NETSTREIT (NYSE:NTST) Price Target Raised to $21.00 at Stifel Nicolaus

NETSTREIT (NYSE:NTST) had its price target raised by Stifel Nicolaus from $20.00 to $21.00 in a report published on Tuesday morning,Benzinga reports. Stifel Nicolaus currently has a buy rating on the stock.

Several other brokerages also recently commented on NTST. Mizuho increased their price target on NETSTREIT from $17.00 to $20.00 and gave the company an “outperform” rating in a report on Thursday, September 11th. UBS Group raised their price objective on shares of NETSTREIT from $20.00 to $21.00 and gave the stock a “buy” rating in a research note on Friday, August 15th. Bank of America upgraded shares of NETSTREIT from an “underperform” rating to a “neutral” rating and raised their price objective for the stock from $18.00 to $19.00 in a research note on Monday, July 28th. Weiss Ratings restated a “hold (c-)” rating on shares of NETSTREIT in a research note on Wednesday, October 8th. Finally, Truist Financial set a $19.00 price objective on shares of NETSTREIT in a research note on Friday, July 25th. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $20.45.

NETSTREIT Trading Down 3.5%

Shares of NTST stock opened at $18.85 on Tuesday. NETSTREIT has a 12 month low of $13.42 and a 12 month high of $19.64. The company has a quick ratio of 3.83, a current ratio of 3.83 and a debt-to-equity ratio of 0.70. The business’s 50 day moving average is $18.43 and its two-hundred day moving average is $17.40. The company has a market cap of $1.57 billion, a PE ratio of -1,884,700.00, a price-to-earnings-growth ratio of 3.50 and a beta of 0.90.

NETSTREIT Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Monday, December 1st will be given a $0.215 dividend. This represents a $0.86 annualized dividend and a yield of 4.6%. The ex-dividend date of this dividend is Monday, December 1st.

Insider Buying and Selling

In other news, CEO Mark Manheimer bought 5,600 shares of NETSTREIT stock in a transaction that occurred on Friday, September 5th. The stock was purchased at an average cost of $17.93 per share, with a total value of $100,408.00. Following the completion of the transaction, the chief executive officer directly owned 316,378 shares in the company, valued at $5,672,657.54. This trade represents a 1.80% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.58% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On NETSTREIT

Several large investors have recently modified their holdings of NTST. Sumitomo Mitsui Trust Group Inc. grew its stake in shares of NETSTREIT by 8.2% in the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,389,583 shares of the company’s stock valued at $37,875,000 after purchasing an additional 181,880 shares during the period. Teacher Retirement System of Texas bought a new position in shares of NETSTREIT during the first quarter valued at $188,000. Principal Financial Group Inc. lifted its holdings in shares of NETSTREIT by 61.3% during the first quarter. Principal Financial Group Inc. now owns 7,741,808 shares of the company’s stock valued at $122,708,000 after acquiring an additional 2,941,600 shares during the period. Bank of New York Mellon Corp lifted its holdings in shares of NETSTREIT by 1.4% during the first quarter. Bank of New York Mellon Corp now owns 351,416 shares of the company’s stock valued at $5,570,000 after acquiring an additional 4,728 shares during the period. Finally, Envestnet Asset Management Inc. lifted its holdings in shares of NETSTREIT by 12.5% during the first quarter. Envestnet Asset Management Inc. now owns 173,642 shares of the company’s stock valued at $2,752,000 after acquiring an additional 19,234 shares during the period.

NETSTREIT Company Profile

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.