NETSTREIT (NYSE:NTST) Given New $21.25 Price Target at Stifel Nicolaus

NETSTREIT (NYSE:NTST) had its price target dropped by research analysts at Stifel Nicolaus from $23.50 to $21.25 in a report issued on Thursday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. Stifel Nicolaus’ price target indicates a potential upside of 28.98% from the company’s previous close.

A number of other analysts have also issued reports on NTST. Truist Financial initiated coverage on NETSTREIT in a report on Thursday, October 1st. They issued a “buy” rating and a $21.00 target price for the company. Wells Fargo & Company lowered their price target on NETSTREIT from $23.00 to $20.00 and set an “overweight” rating on the stock in a report on Monday. Robert W. Baird lifted their price target on NETSTREIT from $22.00 to $23.00 and gave the company an “outperform” rating in a report on Thursday, July 23rd. Scotiabank dropped their price target on NETSTREIT from $22.00 to $20.00 and set a “sector outperform” rating on the stock in a research report on Thursday, September 24th. Finally, Mizuho dropped their price target on NETSTREIT from $20.00 to $19.00 and set an “outperform” rating on the stock in a research report on Monday. Twelve investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $22.27.

NETSTREIT Trading Down 3.4%

NETSTREIT stock opened at $16.48 on Thursday. The company has a 50 day moving average price of $18.92 and a 200 day moving average price of $20.06. NETSTREIT has a 52 week low of $16.41 and a 52 week high of $22.47. The company has a debt-to-equity ratio of 0.88, a quick ratio of 3.54 and a current ratio of 3.55. The firm has a market capitalization of $1.67 billion, a price-to-earnings ratio of 109.84, a P/E/G ratio of 2.22 and a beta of 0.80.

NETSTREIT (NYSE:NTST) last posted its quarterly earnings data on Wednesday, October 21st. The company reported $0.08 earnings per share for the quarter, missing the consensus estimate of $0.09 by ($0.01). NETSTREIT had a return on equity of 0.95% and a net margin of 6.35%. The firm had revenue of $66.26 million for the quarter, compared to analysts’ expectations of $60.55 million. Research analysts forecast that NETSTREIT will post 1.30 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in NTST. Sumitomo Mitsui DS Asset Management Company Ltd increased its position in NETSTREIT by 43.2% in the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 29,261 shares of the company’s stock worth $517,000 after purchasing an additional 8,827 shares during the last quarter. GAMMA Investing LLC raised its stake in shares of NETSTREIT by 62.0% during the 3rd quarter. GAMMA Investing LLC now owns 1,967 shares of the company’s stock worth $35,000 after purchasing an additional 753 shares in the last quarter. Versant Capital Management Inc lifted its holdings in shares of NETSTREIT by 1,163.1% during the 3rd quarter. Versant Capital Management Inc now owns 1,642 shares of the company’s stock valued at $29,000 after buying an additional 1,512 shares during the last quarter. WINTON GROUP Ltd acquired a new stake in shares of NETSTREIT during the 2nd quarter valued at about $1,682,000. Finally, Arizona State Retirement System lifted its holdings in shares of NETSTREIT by 16.8% during the 2nd quarter. Arizona State Retirement System now owns 26,835 shares of the company’s stock valued at $567,000 after buying an additional 3,861 shares during the last quarter.

About NETSTREIT

NETSTREIT Corp. is a real estate investment trust focused on owning and managing outpatient healthcare properties in the United States. The company invests primarily in facilities that provide essential medical services, including physician offices, ambulatory care centers and other outpatient healthcare locations.

NETSTREIT generally leases its properties to healthcare providers under long-term, triple-net lease agreements. Under these arrangements, tenants typically assume responsibility for property taxes, insurance and maintenance expenses.