NETSTREIT (NYSE:NTST) PT Lowered to $20.00

NETSTREIT (NYSE:NTST) had its target price cut by Stifel Nicolaus from $21.00 to $20.00 in a research note published on Friday, Marketbeat reports. They currently have a buy rating on the stock.

NTST has been the subject of a number of other research reports. Wolfe Research cut NETSTREIT from an outperform rating to a peer perform rating in a research report on Wednesday, July 5th. BNP Paribas began coverage on shares of NETSTREIT in a research note on Wednesday, June 14th. They issued an outperform rating and a $23.00 price objective on the stock. Finally, TheStreet upgraded shares of 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 four have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of Moderate Buy and a consensus price target of $21.43.

NETSTREIT Trading Down 1.2 %

NYSE:NTST opened at $16.90 on Friday. The company has a market cap of $1.13 billion, a PE ratio of 169.00, a price-to-earnings-growth ratio of 2.72 and a beta of 0.92. The company has a current ratio of 3.27, a quick ratio of 3.27 and a debt-to-equity ratio of 0.40. The company has a 50 day simple moving average of $17.40 and a two-hundred day simple moving average of $17.86. NETSTREIT has a 12 month low of $16.62 and a 12 month high of $20.64.

NETSTREIT Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, September 15th. Shareholders of record on Friday, September 1st were given a $0.205 dividend. This is a positive change from NETSTREIT’s previous quarterly dividend of $0.20. This represents a $0.82 dividend on an annualized basis and a dividend yield of 4.85%. The ex-dividend date of this dividend was Thursday, August 31st. NETSTREIT’s dividend payout ratio is presently 820.00%.

Institutional Trading of NETSTREIT

Several institutional investors and hedge funds have recently modified their holdings of NTST. BlackRock Inc. raised its holdings in NETSTREIT by 3.5% during the second quarter. BlackRock Inc. now owns 6,397,334 shares of the company’s stock valued at $114,320,000 after acquiring an additional 217,119 shares during the period. Vanguard Group Inc. lifted its holdings in NETSTREIT by 14.1% in the 3rd quarter. Vanguard Group Inc. now owns 5,404,972 shares of the company’s stock worth $96,262,000 after purchasing an additional 668,255 shares in the last quarter. Principal Financial Group Inc. lifted its holdings in NETSTREIT by 0.5% in the 2nd quarter. Principal Financial Group Inc. now owns 3,581,899 shares of the company’s stock worth $64,009,000 after purchasing an additional 16,637 shares in the last quarter. State Street Corp boosted its stake in NETSTREIT by 6.4% in the 2nd quarter. State Street Corp now owns 2,856,975 shares of the company’s stock worth $51,054,000 after purchasing an additional 172,833 shares during the period. Finally, Alliancebernstein L.P. raised its position in shares of NETSTREIT by 5.9% during the fourth quarter. Alliancebernstein L.P. now owns 2,634,059 shares of the company’s stock valued at $48,282,000 after buying an additional 146,701 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.