NETSTREIT (NYSE:NTST) Price Target Raised to $21.00 at Robert W. Baird

NETSTREIT (NYSE:NTST) had its target price lifted by Robert W. Baird from $20.00 to $21.00 in a research note issued to investors on Tuesday morning, MarketBeat reports. The firm currently has an outperform rating on the stock.

Other analysts have also issued reports about the stock. UBS Group increased their price objective on shares of NETSTREIT from $20.00 to $21.00 and gave the stock a “buy” rating in a research report on Friday, August 15th. Mizuho upped their target price on shares of NETSTREIT from $17.00 to $20.00 and gave the stock an “outperform” rating in a research note on Thursday, September 11th. Raymond James Financial restated a “strong-buy” rating and issued a $21.00 target price on shares of NETSTREIT in a research note on Wednesday, July 30th. Truist Financial set a $19.00 target price on shares of NETSTREIT in a research note on Friday, July 25th. Finally, Scotiabank restated an “outperform” rating on shares of NETSTREIT in a research note on Wednesday, August 27th. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $20.45.

NETSTREIT Stock Down 3.5%

Shares of NYSE NTST opened at $18.85 on Tuesday. The firm’s 50-day moving average price is $18.43 and its 200-day moving average price is $17.40. The company has a current ratio of 3.83, a quick ratio of 3.83 and a debt-to-equity ratio of 0.70. The stock has a market capitalization of $1.57 billion, a price-to-earnings ratio of -1,884,700.00, a P/E/G ratio of 3.50 and a beta of 0.90. NETSTREIT has a 12-month low of $13.42 and a 12-month high of $19.64.

NETSTREIT Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Monday, December 1st will be paid a dividend of $0.215 per share. The ex-dividend date is Monday, December 1st. This represents a $0.86 dividend on an annualized basis and a dividend yield of 4.6%.

Insider Activity

In other NETSTREIT news, CEO Mark Manheimer acquired 5,600 shares of the company’s stock in a transaction dated Friday, September 5th. The shares were purchased at an average cost of $17.93 per share, for a total transaction of $100,408.00. Following the completion of the purchase, the chief executive officer owned 316,378 shares in the company, valued at approximately $5,672,657.54. This trade represents a 1.80% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Corporate insiders own 0.58% of the company’s stock.

Institutional Investors Weigh In On NETSTREIT

A number of hedge funds and other institutional investors have recently bought and sold shares of NTST. Vanguard Group Inc. raised its holdings in shares of NETSTREIT by 4.0% in the first quarter. Vanguard Group Inc. now owns 8,275,681 shares of the company’s stock worth $131,170,000 after buying an additional 315,888 shares during the last quarter. Principal Financial Group Inc. raised its holdings in shares of NETSTREIT by 61.3% in the first quarter. Principal Financial Group Inc. now owns 7,741,808 shares of the company’s stock worth $122,708,000 after buying an additional 2,941,600 shares during the last quarter. Lasalle Investment Management Securities LLC raised its holdings in shares of NETSTREIT by 13.8% in the second quarter. Lasalle Investment Management Securities LLC now owns 3,836,565 shares of the company’s stock worth $64,953,000 after buying an additional 464,980 shares during the last quarter. Hudson Bay Capital Management LP raised its holdings in shares of NETSTREIT by 44.4% in the second quarter. Hudson Bay Capital Management LP now owns 2,807,797 shares of the company’s stock worth $47,536,000 after buying an additional 862,766 shares during the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. raised its holdings in shares of NETSTREIT by 8.2% in the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,389,583 shares of the company’s stock worth $37,875,000 after buying an additional 181,880 shares during the last quarter.

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.