NETSTREIT (NYSE:NTST) Stock Rating Upgraded by Scotiabank

NETSTREIT (NYSE:NTST) was upgraded by equities research analysts at Scotiabank from a “sector perform” rating to a “sector outperform” rating in a research report issued to clients and investors on Monday, Marketbeat reports. The firm currently has a $18.00 price target on the stock, up from their prior price target of $16.00. Scotiabank’s target price points to a potential upside of 14.00% from the stock’s previous close.

NTST has been the subject of a number of other reports. UBS Group assumed coverage on shares of NETSTREIT in a research note on Monday, October 14th. They set a “buy” rating and a $19.00 target price for the company. Stifel Nicolaus reduced their price objective on NETSTREIT from $19.50 to $19.25 and set a “buy” rating for the company in a research report on Tuesday, November 5th. Wedbush began coverage on NETSTREIT in a research report on Monday, August 19th. They issued a “neutral” rating and a $17.00 target price on the stock. Finally, Raymond James upgraded NETSTREIT from an “outperform” rating to a “strong-buy” rating and cut their price target for the company from $20.00 to $19.00 in a research note on Wednesday, August 21st. Three investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $18.30.

NETSTREIT Price Performance

Shares of NYSE NTST opened at $15.79 on Monday. The firm has a market cap of $1.29 billion, a P/E ratio of -268.29 and a beta of 0.97. NETSTREIT has a twelve month low of $14.92 and a twelve month high of $18.97. The company has a quick ratio of 4.08, a current ratio of 4.11 and a debt-to-equity ratio of 0.57. The company has a 50 day moving average of $16.21 and a 200 day moving average of $16.59.

NETSTREIT (NYSE:NTST) last posted its quarterly earnings results on Monday, November 4th. The company reported ($0.07) earnings per share for the quarter, missing the consensus estimate of $0.30 by ($0.37). NETSTREIT had a negative return on equity of 0.35% and a negative net margin of 2.96%. The business had revenue of $41.44 million during the quarter, compared to analysts’ expectations of $41.10 million. During the same quarter in the prior year, the firm earned $0.31 EPS. As a group, research analysts expect that NETSTREIT will post 1.19 EPS for the current fiscal year.

Institutional Investors Weigh In On NETSTREIT

Institutional investors and hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. grew its position in shares of NETSTREIT by 8.3% during the first quarter. Vanguard Group Inc. now owns 7,352,295 shares of the company’s stock worth $135,062,000 after purchasing an additional 566,513 shares in the last quarter. Long Pond Capital LP grew its holdings in NETSTREIT by 235.2% during the 1st quarter. Long Pond Capital LP now owns 5,967,437 shares of the company’s stock valued at $109,622,000 after buying an additional 4,187,438 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. raised its position in shares of NETSTREIT by 1,931.7% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,615,264 shares of the company’s stock valued at $26,700,000 after buying an additional 1,535,761 shares during the last quarter. Russell Investments Group Ltd. lifted its holdings in shares of NETSTREIT by 64.9% in the first quarter. Russell Investments Group Ltd. now owns 1,593,752 shares of the company’s stock worth $29,277,000 after buying an additional 627,514 shares in the last quarter. Finally, APG Asset Management US Inc. boosted its position in shares of NETSTREIT by 5.6% during the second quarter. APG Asset Management US Inc. now owns 1,520,236 shares of the company’s stock worth $24,597,000 after acquiring an additional 80,553 shares during the last quarter.

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.