Mizuho Issues Positive Forecast for NETSTREIT (NYSE:NTST) Stock Price

NETSTREIT (NYSE:NTST) had its price target raised by Mizuho from $19.00 to $23.00 in a research report released on Wednesday,Benzinga reports. They currently have an outperform rating on the stock.

NTST has been the subject of a number of other research reports. UBS Group raised their target price on NETSTREIT from $21.00 to $24.00 and gave the company a “buy” rating in a report on Monday. Truist Financial upped 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 increased their price target on shares of NETSTREIT from $21.00 to $22.00 and gave the company a “sector outperform” rating in a report on Monday, March 2nd. Cantor Fitzgerald raised 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. Finally, BTIG Research boosted their price objective on shares of NETSTREIT from $19.00 to $22.00 and gave the stock a “buy” rating in a report on Tuesday, March 3rd. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $21.42.

NETSTREIT Stock Performance

Shares of NTST stock opened at $20.27 on Wednesday. The company has a market cap of $1.97 billion, a price-to-earnings ratio of 225.19, a price-to-earnings-growth ratio of 3.21 and a beta of 0.86. The stock has a 50 day simple moving average of $19.19 and a 200-day simple moving average of $18.53. NETSTREIT has a 12-month low of $14.00 and a 12-month high of $21.30. 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 (NYSE:NTST) last posted its quarterly earnings results on Tuesday, February 10th. The company reported $0.02 earnings per share for the quarter, missing analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $50.98 million. On average, equities analysts forecast that NETSTREIT will post 1.19 EPS for the current year.

NETSTREIT Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Monday, March 16th will be given a dividend of $0.22 per share. The ex-dividend date is Monday, March 16th. This is a positive change from NETSTREIT’s previous quarterly dividend of $0.22. This represents a $0.88 dividend on an annualized basis and a yield of 4.3%. NETSTREIT’s dividend payout ratio (DPR) is presently 977.78%.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Alyeska Investment Group L.P. boosted its position in shares of 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 increased its holdings in 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 purchased a new position in NETSTREIT during the 3rd quarter valued at about $20,498,000. Hudson Bay Capital Management LP raised its position in 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 during the last quarter. Finally, Centersquare Investment Management LLC raised its position in 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 during 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.