NETSTREIT (NYSE:NTST) Given New $24.00 Price Target at UBS Group

NETSTREIT (NYSE:NTST) had its price objective raised by UBS Group from $21.00 to $24.00 in a research report report published on Monday morning,Benzinga reports. The brokerage currently has a buy rating on the stock.

A number of other equities research analysts have also issued reports on NTST. Weiss Ratings reaffirmed a “hold (c)” rating on shares of NETSTREIT in a report on Monday, December 29th. Truist Financial raised their price target on shares of NETSTREIT from $19.00 to $20.00 and gave the stock a “buy” rating in a research note on Monday, November 17th. Scotiabank boosted their price target on shares of NETSTREIT from $21.00 to $22.00 and gave the stock a “sector outperform” rating in a research report on Monday, March 2nd. BTIG Research upped their price objective on shares of NETSTREIT from $19.00 to $22.00 and gave the company a “buy” rating in a research note on Tuesday, March 3rd. Finally, Cantor Fitzgerald increased their price objective on shares of NETSTREIT from $20.00 to $22.00 and gave the company an “overweight” rating in a report on Tuesday, February 17th. One research 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. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $21.08.

NETSTREIT Stock Performance

NYSE NTST opened at $20.87 on Monday. The company has a debt-to-equity ratio of 0.75, a current ratio of 3.12 and a quick ratio of 3.12. The stock’s 50 day simple moving average is $19.08 and its 200-day simple moving average is $18.50. The company has a market cap of $2.03 billion, a PE ratio of 231.84, a price-to-earnings-growth 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 $21.30.

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

NETSTREIT Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Monday, March 16th will be paid a $0.22 dividend. This is a positive change from NETSTREIT’s previous quarterly dividend of $0.22. The ex-dividend date of this dividend is Monday, March 16th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 4.2%. NETSTREIT’s payout ratio is presently 955.56%.

Hedge Funds Weigh In On NETSTREIT

A number of hedge funds have recently made changes to their positions in NTST. Alyeska Investment Group L.P. increased its holdings 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 valued at $71,040,000 after purchasing an additional 2,544,458 shares during the last quarter. Millennium Management LLC lifted its stake in NETSTREIT by 88.8% during the third quarter. Millennium Management LLC now owns 3,790,130 shares of the company’s stock worth $68,450,000 after purchasing an additional 1,782,158 shares in the last quarter. William Blair Investment Management LLC purchased a new position in shares of NETSTREIT during the third quarter worth $20,498,000. Hudson Bay Capital Management LP boosted its position 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 buying an additional 986,842 shares during the period. Finally, Centersquare Investment Management LLC grew its stake in shares of NETSTREIT by 37.9% in the third quarter. Centersquare Investment Management LLC now owns 3,533,415 shares of the company’s stock valued at $63,813,000 after buying an additional 970,260 shares in the last quarter.

NETSTREIT Company Profile

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.