NETSTREIT Corp. (NYSE:NTST) Receives $17.75 Consensus Target Price from Analysts

Shares of NETSTREIT Corp. (NYSE:NTST) have been given a consensus rating of “Buy” by the eight brokerages that are presently covering the firm, Marketbeat.com reports. One analyst has rated the stock with a hold recommendation, six have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price objective among brokers that have covered the stock in the last year is $17.75.

NTST has been the subject of a number of analyst reports. Mizuho cut their price objective on shares of NETSTREIT from $17.00 to $15.00 and set an “outperform” rating for the company in a research report on Wednesday, January 8th. Truist Financial reduced their price target on NETSTREIT from $20.00 to $19.00 and set a “buy” rating for the company in a report on Thursday, December 5th. Raymond James cut their price objective on NETSTREIT from $19.00 to $17.00 and set a “strong-buy” rating for the company in a report on Friday, January 17th. Finally, Capital One Financial assumed coverage on NETSTREIT in a research note on Wednesday, February 12th. They issued an “overweight” rating for the company.

Insider Buying and Selling at NETSTREIT

In other news, CEO Mark Manheimer bought 6,384 shares of the stock in a transaction on Monday, March 10th. The shares were bought at an average price of $15.33 per share, with a total value of $97,866.72. Following the completion of the acquisition, the chief executive officer now owns 304,572 shares of the company’s stock, valued at approximately $4,669,088.76. This trade represents a 2.14 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders have acquired a total of 12,000 shares of company stock worth $183,172 over the last ninety days. Corporate insiders own 0.46% of the company’s stock.

Hedge Funds Weigh In On NETSTREIT

Several hedge funds and other institutional investors have recently modified their holdings of NTST. Van ECK Associates Corp raised its position in shares of NETSTREIT by 18.5% during the 3rd quarter. Van ECK Associates Corp now owns 13,363 shares of the company’s stock valued at $214,000 after acquiring an additional 2,083 shares in the last quarter. State of New Jersey Common Pension Fund D grew its holdings in NETSTREIT by 6.1% during the third quarter. State of New Jersey Common Pension Fund D now owns 115,660 shares of the company’s stock valued at $1,912,000 after purchasing an additional 6,690 shares during the last quarter. GSA Capital Partners LLP raised its position in shares of NETSTREIT by 107.8% during the third quarter. GSA Capital Partners LLP now owns 149,651 shares of the company’s stock valued at $2,474,000 after buying an additional 77,647 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. lifted its holdings in shares of NETSTREIT by 1,931.7% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,615,264 shares of the company’s stock worth $26,700,000 after acquiring an additional 1,535,761 shares during the period. Finally, Aigen Investment Management LP bought a new position in NETSTREIT during the 3rd quarter valued at about $546,000.

NETSTREIT Trading Up 1.6 %

NYSE:NTST opened at $15.24 on Wednesday. NETSTREIT has a one year low of $13.42 and a one year high of $18.97. The company has a debt-to-equity ratio of 0.57, a current ratio of 4.11 and a quick ratio of 4.11. The firm has a 50-day moving average of $14.43 and a 200-day moving average of $15.31. The company has a market cap of $1.24 billion, a PE ratio of -253.87 and a beta of 0.99.

NETSTREIT Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be paid a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 5.51%. The ex-dividend date of this dividend is Friday, March 14th. NETSTREIT’s payout ratio is -525.00%.

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.