NETSTREIT (NYSE:NTST) Sets New 12-Month Low at $16.74

NETSTREIT Corp. (NYSE:NTST) shares reached a new 52-week low during mid-day trading on Wednesday . The company traded as low as $16.74 and last traded at $16.75, with a volume of 435567 shares traded. The stock had previously closed at $17.00.

Wall Street Analysts Forecast Growth

NTST has been the topic of a number of recent research reports. Stifel Nicolaus dropped their price target on NETSTREIT from $21.00 to $20.00 in a research report on Friday. Wolfe Research downgraded NETSTREIT from an “outperform” rating to a “peer perform” rating in a research report on Wednesday, July 5th. BNP Paribas initiated coverage on NETSTREIT in a research report on Wednesday, June 14th. They set an “outperform” rating and a $23.00 price objective on the stock. Finally, TheStreet raised NETSTREIT from a “d+” rating to a “c” rating in a research report on Monday, August 14th. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, NETSTREIT presently has an average rating of “Moderate Buy” and an average target price of $21.43.

NETSTREIT Stock Performance

The business has a 50 day simple moving average of $17.42 and a 200 day simple moving average of $17.93. The company has a quick ratio of 3.27, a current ratio of 3.27 and a debt-to-equity ratio of 0.40. The company has a market capitalization of $1.13 billion, a PE ratio of 168.30, a PEG ratio of 2.71 and a beta of 0.92.

NETSTREIT Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Friday, September 1st will be paid a $0.205 dividend. The ex-dividend date is Thursday, August 31st. This is a boost from NETSTREIT’s previous quarterly dividend of $0.20. This represents a $0.82 dividend on an annualized basis and a yield of 4.87%. NETSTREIT’s dividend payout ratio (DPR) is 820.00%.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. Comerica Bank acquired a new stake in NETSTREIT during the second quarter worth about $320,000. California State Teachers Retirement System grew its holdings in NETSTREIT by 4.3% in the second quarter. California State Teachers Retirement System now owns 71,652 shares of the company’s stock valued at $1,280,000 after purchasing an additional 2,952 shares during the period. Coppell Advisory Solutions LLC purchased a new stake in shares of NETSTREIT during the second quarter worth approximately $102,000. Alliancebernstein L.P. increased its position in shares of NETSTREIT by 1.9% during the second quarter. Alliancebernstein L.P. now owns 2,626,716 shares of the company’s stock worth $46,939,000 after purchasing an additional 47,867 shares in the last quarter. Finally, Wells Fargo & Company MN increased its position in shares of NETSTREIT by 15.5% during the second quarter. Wells Fargo & Company MN now owns 71,364 shares of the company’s stock worth $1,275,000 after purchasing an additional 9,552 shares in 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.