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

NETSTREIT (NYSE:NTST) had its target price lowered by Raymond James from $19.00 to $17.00 in a report issued on Friday,Benzinga reports. The firm currently has a “strong-buy” rating on the stock. Raymond James’ price objective would suggest a potential upside of 16.20% from the stock’s current price.

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

NETSTREIT Price Performance

NYSE:NTST traded up $0.16 during trading hours on Friday, hitting $14.63. 248,372 shares of the company’s stock traded hands, compared to its average volume of 640,149. The firm has a market cap of $1.19 billion, a P/E ratio of -243.84 and a beta of 1.00. The company has a quick ratio of 4.11, a current ratio of 4.11 and a debt-to-equity ratio of 0.57. The business’s fifty day simple moving average is $14.97 and its two-hundred day simple moving average is $15.85. NETSTREIT has a 52 week low of $13.42 and a 52 week high of $18.97.

NETSTREIT (NYSE:NTST) last posted its quarterly earnings data 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 company had revenue of $41.44 million during the quarter, compared to the consensus estimate of $41.10 million. During the same quarter last year, the company posted $0.31 earnings per share. On average, research analysts anticipate that NETSTREIT will post 1.19 earnings per share for the current fiscal year.

Hedge Funds Weigh In On NETSTREIT

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Natixis Advisors LLC grew its stake in shares of NETSTREIT by 3.7% during the 3rd quarter. Natixis Advisors LLC now owns 26,051 shares of the company’s stock valued at $431,000 after acquiring an additional 941 shares during the period. IFM Investors Pty Ltd increased its stake in NETSTREIT by 5.9% in the 3rd quarter. IFM Investors Pty Ltd now owns 17,939 shares of the company’s stock worth $297,000 after acquiring an additional 1,001 shares during the last quarter. QSV Equity Investors LLC raised its holdings in shares of NETSTREIT by 1.6% during the 3rd quarter. QSV Equity Investors LLC now owns 77,533 shares of the company’s stock worth $1,282,000 after acquiring an additional 1,214 shares in the last quarter. State of Alaska Department of Revenue boosted its position in shares of NETSTREIT by 4.2% during the 3rd quarter. State of Alaska Department of Revenue now owns 36,869 shares of the company’s stock valued at $609,000 after acquiring an additional 1,490 shares during the last quarter. Finally, The Manufacturers Life Insurance Company grew its holdings in shares of NETSTREIT by 5.5% in the third quarter. The Manufacturers Life Insurance Company now owns 38,137 shares of the company’s stock valued at $630,000 after purchasing an additional 2,001 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.