Scotiabank Boosts NETSTREIT (NYSE:NTST) Price Target to $22.00

NETSTREIT (NYSE:NTST) had its price objective boosted by Scotiabank from $21.00 to $22.00 in a research note issued on Monday,Benzinga reports. The firm presently has a “sector outperform” rating on the stock. Scotiabank’s price objective indicates a potential upside of 5.01% from the company’s previous close.

NTST has been the subject of a number of other research reports. Mizuho decreased their price target on NETSTREIT from $20.00 to $19.00 and set an “outperform” rating for the company in a research report on Wednesday, December 17th. Cantor Fitzgerald upped their price objective on shares of NETSTREIT from $20.00 to $22.00 and gave the company an “overweight” rating in a research note on Tuesday, February 17th. Weiss Ratings reiterated a “hold (c)” rating on shares of NETSTREIT in a report on Monday, December 29th. Finally, Truist Financial lifted their target price on shares of NETSTREIT from $19.00 to $20.00 and gave the stock a “buy” rating in a research report on Monday, November 17th. One equities 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 currently has a consensus rating of “Moderate Buy” and an average target price of $20.83.

NETSTREIT Trading Up 0.0%

Shares of NYSE:NTST opened at $20.95 on Monday. The stock has a market capitalization of $2.03 billion, a price-to-earnings ratio of 232.78, a PEG ratio of 3.27 and a beta of 0.86. NETSTREIT has a 1-year low of $14.00 and a 1-year high of $21.13. The company has a debt-to-equity ratio of 0.75, a quick ratio of 3.12 and a current ratio of 3.12. The company has a 50 day moving average price of $18.81 and a 200 day moving average price of $18.44.

NETSTREIT (NYSE:NTST) last posted its quarterly earnings results on Tuesday, February 10th. The company reported $0.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.33 by ($0.31). The company had revenue of $52.50 million during the quarter, compared to the consensus estimate of $50.98 million. NETSTREIT had a net margin of 3.54% and a return on equity of 0.51%. On average, research analysts anticipate that NETSTREIT will post 1.19 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in NTST. Alyeska Investment Group L.P. lifted its position in NETSTREIT by 171.6% in the 4th quarter. Alyeska Investment Group L.P. now owns 4,027,188 shares of the company’s stock worth $71,040,000 after buying an additional 2,544,458 shares in the last quarter. Millennium Management LLC grew its holdings in shares of NETSTREIT by 88.8% during the 3rd quarter. Millennium Management LLC now owns 3,790,130 shares of the company’s stock valued at $68,450,000 after acquiring an additional 1,782,158 shares in the last quarter. William Blair Investment Management LLC acquired a new position in shares of NETSTREIT in the third quarter worth $20,498,000. Hudson Bay Capital Management LP raised its holdings in shares of NETSTREIT by 35.1% during the third quarter. Hudson Bay Capital Management LP now owns 3,794,639 shares of the company’s stock worth $68,531,000 after acquiring an additional 986,842 shares in the last quarter. Finally, Centersquare Investment Management LLC raised its holdings in shares of NETSTREIT by 37.9% during the third quarter. Centersquare Investment Management LLC now owns 3,533,415 shares of the company’s stock worth $63,813,000 after acquiring an additional 970,260 shares in the last quarter.

About NETSTREIT

NetSTREIT Corp. is a real estate investment trust that specializes in the acquisition and management of single‐tenant, net lease retail properties across the United States. The company targets assets leased to investment‐grade or creditworthy tenants under long‐term, triple‐net leases, which generally shift property‐level expenses—such as taxes, insurance and maintenance—to the tenant. This business model is designed to generate predictable, stable income streams and to limit landlord responsibilities.

NetSTREIT’s portfolio encompasses a diversified mix of essential retail and service properties, including quick‐service restaurants, convenience stores, banks, automotive service centers and medical clinics.