NETSTREIT (NYSE:NTST) Upgraded at Wells Fargo & Company

NETSTREIT (NYSE:NTST) was upgraded by equities research analysts at Wells Fargo & Company to a “strong-buy” rating in a research report issued to clients and investors on Monday,Zacks.com reports.

Other research analysts have also recently issued reports about the company. Raymond James reduced their price objective on NETSTREIT from $19.00 to $17.00 and set a “strong-buy” rating for the company in a research report on Friday, January 17th. Capital One Financial began coverage on shares of NETSTREIT in a research note on Wednesday, February 12th. They set an “overweight” rating for the company. Finally, Mizuho upped their target price on NETSTREIT from $15.00 to $17.00 and gave the stock an “outperform” rating in a report on Thursday, April 3rd. One research analyst has rated the stock with a hold rating, six have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $18.03.

NETSTREIT Price Performance

NYSE:NTST opened at $14.63 on Monday. The company has a quick ratio of 4.11, a current ratio of 4.11 and a debt-to-equity ratio of 0.57. The firm has a market cap of $1.19 billion, a PE ratio of -243.71 and a beta of 0.91. The company’s 50-day moving average price is $14.85 and its two-hundred day moving average price is $15.14. NETSTREIT has a 12 month low of $13.42 and a 12 month high of $18.10.

Insider Activity

In other news, CEO Mark Manheimer acquired 6,384 shares of NETSTREIT stock in a transaction on Monday, March 10th. The stock was bought at an average price of $15.33 per share, for a total transaction of $97,866.72. Following the completion of the purchase, the chief executive officer now owns 304,572 shares in the company, valued at $4,669,088.76. This represents a 2.14 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders have bought a total of 12,000 shares of company stock worth $183,172 over the last quarter. 0.46% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On NETSTREIT

Several hedge funds have recently modified their holdings of NTST. Swiss National Bank grew its stake in NETSTREIT by 5.7% during the fourth quarter. Swiss National Bank now owns 152,200 shares of the company’s stock worth $2,154,000 after buying an additional 8,200 shares during the period. Nordea Investment Management AB purchased a new stake in NETSTREIT during the 4th quarter worth $6,714,000. JPMorgan Chase & Co. raised its position in NETSTREIT by 173.9% in the third quarter. JPMorgan Chase & Co. now owns 569,527 shares of the company’s stock valued at $9,414,000 after purchasing an additional 361,577 shares during the period. Vestcor Inc acquired a new position in shares of NETSTREIT during the third quarter worth about $913,000. Finally, Geode Capital Management LLC boosted its position in shares of NETSTREIT by 6.0% in the third quarter. Geode Capital Management LLC now owns 1,980,800 shares of the company’s stock worth $32,748,000 after buying an additional 112,047 shares during the period.

About NETSTREIT

NETSTREIT Corp. is an internally managed real estate investment trust (REIT) based in Dallas, Texas that specializes in acquiring single-tenant net lease retail properties nationwide. The growing portfolio consists of high-quality properties leased to e-commerce resistant tenants with healthy balance sheets.