NETSTREIT (NYSE:NTST) Upgraded to “Strong-Buy” at BMO Capital Markets

NETSTREIT (NYSE:NTST) was upgraded by BMO Capital Markets to a “strong-buy” rating in a note issued to investors on Friday,Zacks.com reports.

Several other equities analysts have also commented on the stock. Mizuho increased their price objective on shares of NETSTREIT from $19.00 to $23.00 and gave the company an “outperform” rating in a research report on Wednesday, March 11th. Cantor Fitzgerald raised their price target on shares of NETSTREIT from $20.00 to $22.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 17th. Weiss Ratings reissued a “hold (c)” rating on shares of NETSTREIT in a research report on Friday, March 27th. Scotiabank raised their price target on shares of NETSTREIT from $21.00 to $22.00 and gave the stock a “sector outperform” rating in a research report on Monday, March 2nd. Finally, UBS Group raised their price target on shares of NETSTREIT from $21.00 to $24.00 and gave the stock a “buy” rating in a research report on Monday, March 9th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $21.77.

NETSTREIT Stock Performance

Shares of NETSTREIT stock opened at $20.92 on Friday. The firm has a market capitalization of $2.03 billion, a P/E ratio of 232.39, a PEG ratio of 3.18 and a beta of 0.88. The company has a quick ratio of 3.12, a current ratio of 3.12 and a debt-to-equity ratio of 0.75. The company has a 50 day moving average price of $19.94 and a 200 day moving average price of $18.80. NETSTREIT has a 52 week low of $15.23 and a 52 week high of $21.30.

NETSTREIT (NYSE:NTST) last announced its quarterly earnings data on Tuesday, February 10th. The company reported $0.02 EPS for the quarter, missing the consensus estimate of $0.33 by ($0.31). The company had revenue of $52.50 million during the quarter, compared to analysts’ expectations of $50.98 million. NETSTREIT had a net margin of 3.54% and a return on equity of 0.51%. Sell-side analysts expect that NETSTREIT will post 1.19 EPS for the current year.

Institutional Investors Weigh In On NETSTREIT

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Principal Financial Group Inc. grew its stake in shares of NETSTREIT by 3.0% during the 4th quarter. Principal Financial Group Inc. now owns 9,226,348 shares of the company’s stock worth $162,753,000 after purchasing an additional 268,275 shares during the period. Vanguard Group Inc. grew its stake in shares of NETSTREIT by 7.8% during the 3rd quarter. Vanguard Group Inc. now owns 8,961,288 shares of the company’s stock worth $161,841,000 after purchasing an additional 646,153 shares during the period. Alyeska Investment Group L.P. grew its stake in shares of NETSTREIT by 171.6% during the 4th quarter. Alyeska Investment Group L.P. now owns 4,027,188 shares of the company’s stock worth $71,040,000 after purchasing an additional 2,544,458 shares during the period. Hudson Bay Capital Management LP grew its stake in shares of NETSTREIT by 4.3% during the 4th quarter. Hudson Bay Capital Management LP now owns 3,956,426 shares of the company’s stock worth $69,791,000 after purchasing an additional 161,787 shares during the period. Finally, Millennium Management LLC grew its stake in shares of NETSTREIT by 88.8% during the 3rd quarter. Millennium Management LLC now owns 3,790,130 shares of the company’s stock worth $68,450,000 after purchasing an additional 1,782,158 shares during the period.

About NETSTREIT

NetSTREIT Corp. is a real estate investment trust that specializes in the acquisition and management of single‐tenant, net lease retail properties across the United States. The company targets assets leased to investment‐grade or creditworthy tenants under long‐term, triple‐net leases, which generally shift property‐level expenses—such as taxes, insurance and maintenance—to the tenant. This business model is designed to generate predictable, stable income streams and to limit landlord responsibilities.

NetSTREIT’s portfolio encompasses a diversified mix of essential retail and service properties, including quick‐service restaurants, convenience stores, banks, automotive service centers and medical clinics.