BMO Capital Markets Upgrades NETSTREIT (NYSE:NTST) to Strong-Buy

NETSTREIT (NYSE:NTST) was upgraded by stock analysts at BMO Capital Markets to a “strong-buy” rating in a report released on Friday,Zacks.com reports.

Several other brokerages also recently issued reports on NTST. Truist Financial raised their price target on NETSTREIT from $20.00 to $21.00 and gave the company a “buy” rating in a report on Monday, March 23rd. Cantor Fitzgerald raised their price target on NETSTREIT from $20.00 to $22.00 and gave the company an “overweight” rating in a report on Tuesday, February 17th. Mizuho raised their price target on NETSTREIT from $19.00 to $23.00 and gave the company an “outperform” rating in a report on Wednesday, March 11th. Scotiabank raised their price target on NETSTREIT from $21.00 to $22.00 and gave the company a “sector outperform” rating in a report on Monday, March 2nd. Finally, Raymond James Financial downgraded NETSTREIT from a “strong-buy” rating to an “outperform” rating and raised their price target for the company from $21.00 to $22.00 in a report on Tuesday, March 17th. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $21.77.

NETSTREIT Trading Up 2.5%

NYSE NTST opened at $20.92 on Friday. The company has a market cap of $2.03 billion, a PE ratio of 232.39, a PEG ratio of 3.18 and a beta of 0.88. The company has a current ratio of 3.12, a quick ratio of 3.12 and a debt-to-equity ratio of 0.75. NETSTREIT has a 12 month low of $15.23 and a 12 month high of $21.30. The stock has a 50 day moving average of $19.94 and a 200-day moving average of $18.81.

NETSTREIT (NYSE:NTST) last announced 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). NETSTREIT had a net margin of 3.54% and a return on equity of 0.51%. The business had revenue of $52.50 million for the quarter, compared to analyst estimates of $50.98 million. On average, equities research analysts anticipate that NETSTREIT will post 1.19 EPS for the current fiscal year.

Institutional Investors Weigh In On NETSTREIT

A number of hedge funds and other institutional investors have recently modified their holdings of NTST. Alyeska Investment Group L.P. lifted its holdings in shares of NETSTREIT by 171.6% during the fourth 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 lifted its holdings in shares of 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 buying an additional 1,782,158 shares in the last quarter. William Blair Investment Management LLC acquired a new stake in shares of NETSTREIT during the third quarter worth $20,498,000. Hudson Bay Capital Management LP lifted 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 buying an additional 986,842 shares in the last quarter. Finally, Centersquare Investment Management LLC increased its position 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 worth $63,813,000 after purchasing an additional 970,260 shares during the period.

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.