Raymond James Cuts NETSTREIT (NYSE:NTST) Price Target to $17.00

NETSTREIT (NYSE:NTST) had its target price reduced by Raymond James from $19.00 to $17.00 in a research note released on Friday,Benzinga reports. Raymond James currently has a strong-buy rating on the stock.

A number of other research analysts have also commented on NTST. Scotiabank upgraded NETSTREIT from a “sector perform” rating to a “sector outperform” rating and increased their price objective for the company from $16.00 to $18.00 in a research report on Monday, November 11th. UBS Group started coverage on shares of NETSTREIT in a research note on Monday, October 14th. They set a “buy” rating and a $19.00 price target for the company. Mizuho dropped their target price on shares of NETSTREIT from $17.00 to $15.00 and set an “outperform” rating for the company in a research report on Wednesday, January 8th. Truist Financial reduced their price target on NETSTREIT from $20.00 to $19.00 and set a “buy” rating on the stock in a research report on Thursday, December 5th. Finally, Stifel Nicolaus cut their target price on NETSTREIT from $19.50 to $19.25 and set a “buy” rating on the stock in a research note on Tuesday, November 5th. Two equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $17.75.

NETSTREIT Price Performance

Shares of NETSTREIT stock opened at $14.58 on Friday. NETSTREIT has a 1-year low of $13.42 and a 1-year high of $18.97. The firm’s 50-day moving average price is $14.94 and its two-hundred day moving average price is $15.83. The company has a current ratio of 4.11, a quick ratio of 4.11 and a debt-to-equity ratio of 0.57. The stock has a market capitalization of $1.19 billion, a price-to-earnings ratio of -242.89 and a beta of 1.00.

NETSTREIT (NYSE:NTST) last released its quarterly earnings results on Monday, November 4th. The company reported ($0.07) earnings per share for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.37). The business had revenue of $41.44 million for the quarter, compared to analyst estimates of $41.10 million. NETSTREIT had a negative net margin of 2.96% and a negative return on equity of 0.35%. During the same period in the prior year, the business earned $0.31 earnings per share. On average, equities analysts predict that NETSTREIT will post 1.19 earnings per share for the current fiscal year.

NETSTREIT Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 13th. Investors of record on Monday, December 2nd were given a $0.21 dividend. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $0.84 annualized dividend and a dividend yield of 5.76%. NETSTREIT’s dividend payout ratio is presently -1,399.77%.

Institutional Investors Weigh In On NETSTREIT

Large investors have recently made changes to their positions in the stock. Rhumbline Advisers grew its holdings in shares of NETSTREIT by 10.2% during the second quarter. Rhumbline Advisers now owns 126,929 shares of the company’s stock worth $2,044,000 after buying an additional 11,765 shares in the last quarter. American Century Companies Inc. boosted its position in NETSTREIT by 12.5% during the 2nd quarter. American Century Companies Inc. now owns 23,619 shares of the company’s stock worth $380,000 after acquiring an additional 2,624 shares during the last quarter. Hsbc Holdings PLC grew its stake in shares of NETSTREIT by 23.7% during the 2nd quarter. Hsbc Holdings PLC now owns 56,125 shares of the company’s stock worth $902,000 after acquiring an additional 10,769 shares in the last quarter. MQS Management LLC acquired a new stake in shares of NETSTREIT in the second quarter valued at approximately $337,000. Finally, Marshall Wace LLP lifted its position in shares of NETSTREIT by 42.4% in the second quarter. Marshall Wace LLP now owns 1,009,106 shares of the company’s stock worth $16,247,000 after purchasing an additional 300,481 shares in the last quarter.

About NETSTREIT

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.