NETSTREIT Corp. (NYSE:NTST) Given Average Recommendation of “Buy” by Brokerages

Shares of NETSTREIT Corp. (NYSE:NTST) have earned a consensus rating of “Buy” from the nine analysts that are presently covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a hold recommendation, six have assigned a buy recommendation and two have given a strong buy recommendation to the company. The average 1-year target price among brokerages that have covered the stock in the last year is $18.16.

A number of equities analysts recently issued reports on the stock. Wells Fargo & Company assumed coverage on shares of NETSTREIT in a research note on Monday, April 7th. They issued an “overweight” rating and a $18.00 price target on the stock. Capital One Financial assumed coverage on shares of NETSTREIT in a research note on Wednesday, February 12th. They set an “overweight” rating on the stock. Raymond James upped their target price on shares of NETSTREIT from $17.00 to $18.00 and gave the company a “strong-buy” rating in a research note on Friday. Finally, Mizuho upped their target price on shares of NETSTREIT from $15.00 to $17.00 and gave the company an “outperform” rating in a research note on Thursday, April 3rd.

Insider Activity

In related news, CEO Mark Manheimer purchased 6,384 shares of the stock in a transaction that occurred on Monday, March 10th. The stock was bought at an average cost of $15.33 per share, for a total transaction of $97,866.72. Following the completion of the transaction, the chief executive officer now directly 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 transaction was disclosed in a filing with the SEC, which is available at this link. In the last ninety days, insiders bought 12,000 shares of company stock worth $183,172. 0.58% of the stock is currently owned by insiders.

Institutional Trading of NETSTREIT

Institutional investors have recently bought and sold shares of the stock. Swiss National Bank lifted its position in NETSTREIT by 5.7% in 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 last quarter. Cohen & Steers Inc. lifted its position in NETSTREIT by 3.0% in the fourth quarter. Cohen & Steers Inc. now owns 6,663,409 shares of the company’s stock worth $94,287,000 after buying an additional 191,846 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in NETSTREIT by 5.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,133,552 shares of the company’s stock worth $16,040,000 after buying an additional 55,378 shares during the last quarter. LPL Financial LLC bought a new stake in NETSTREIT in the fourth quarter worth $236,000. Finally, Freestone Grove Partners LP bought a new stake in NETSTREIT in the fourth quarter worth $363,000.

NETSTREIT Trading Up 1.0%

NTST stock opened at $15.63 on Monday. The company has a debt-to-equity ratio of 0.57, a quick ratio of 4.11 and a current ratio of 4.11. NETSTREIT has a one year low of $13.42 and a one year high of $17.53. The company’s 50 day moving average price is $15.69 and its two-hundred day moving average price is $15.11. The company has a market capitalization of $1.28 billion, a PE ratio of -260.51 and a beta of 0.90.

NETSTREIT Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Monday, June 2nd will be given a dividend of $0.21 per share. The ex-dividend date of this dividend is Monday, June 2nd. This represents a $0.84 dividend on an annualized basis and a dividend yield of 5.37%. NETSTREIT’s dividend payout ratio is currently -560.00%.

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.