NETSTREIT (NYSE:NTST) Upgraded to Sector Outperform at Scotiabank

Scotiabank upgraded shares of NETSTREIT (NYSE:NTST) from a sector perform rating to a sector outperform rating in a research note issued to investors on Monday, Marketbeat.com reports. The firm currently has $18.00 target price on the stock, up from their previous target price of $16.00.

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

NETSTREIT Stock Performance

NTST opened at $16.10 on Monday. The company has a current ratio of 4.11, a quick ratio of 4.08 and a debt-to-equity ratio of 0.57. The business’s 50 day moving average is $16.21 and its 200-day moving average is $16.59. The stock has a market cap of $1.31 billion, a PE 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.

NETSTREIT (NYSE:NTST) last announced its quarterly earnings results on Monday, November 4th. The company reported ($0.07) earnings per share (EPS) 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 return on equity of 0.35% and a negative net margin of 2.96%. During the same quarter last year, the firm posted $0.31 EPS. On average, analysts predict that NETSTREIT will post 1.19 earnings per share for the current year.

NETSTREIT Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Monday, December 2nd will be paid a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 5.22%. The ex-dividend date of this dividend is Monday, December 2nd. NETSTREIT’s dividend payout ratio is presently -1,399.77%.

Institutional Investors Weigh In On NETSTREIT

A number of large investors have recently made changes to their positions in the company. Quarry LP acquired a new position in NETSTREIT during the second quarter valued at $45,000. Point72 DIFC Ltd acquired a new position in shares of NETSTREIT in the 2nd quarter valued at about $83,000. M&G PLC purchased a new stake in shares of NETSTREIT in the third quarter worth approximately $173,000. Custom Index Systems LLC purchased a new stake in shares of NETSTREIT in the third quarter worth approximately $170,000. Finally, Van ECK Associates Corp boosted its holdings in shares of NETSTREIT by 13.7% during the second quarter. Van ECK Associates Corp now owns 11,280 shares of the company’s stock worth $182,000 after purchasing an additional 1,359 shares during the period.

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.