NETSTREIT (NYSE:NTST) Earns Buy Rating from Analysts at UBS Group

UBS Group initiated coverage on shares of NETSTREIT (NYSE:NTST) in a research note published on Monday, Marketbeat Ratings reports. The firm issued a buy rating and a $19.00 price target on the stock.

Other equities research analysts also recently issued research reports about the company. Scotiabank reduced their target price on NETSTREIT from $18.00 to $16.00 and set a “sector perform” rating for the company in a report on Wednesday, August 7th. Wedbush assumed coverage on shares of NETSTREIT in a report on Monday, August 19th. They set a “neutral” rating and a $17.00 price objective on the stock. Finally, Raymond James raised shares of NETSTREIT from an “outperform” rating to a “strong-buy” rating and dropped their target price for the company from $20.00 to $19.00 in a report on Wednesday, August 21st. Four research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $17.98.

NETSTREIT Trading Up 2.7 %

Shares of NETSTREIT stock opened at $16.74 on Monday. The firm has a market cap of $1.23 billion, a price-to-earnings ratio of 186.00 and a beta of 0.96. NETSTREIT has a 52-week low of $13.49 and a 52-week high of $18.97. The company’s 50-day simple moving average is $16.38 and its 200-day simple moving average is $16.77. The company has a quick ratio of 4.08, a current ratio of 4.08 and a debt-to-equity ratio of 0.55.

NETSTREIT (NYSE:NTST) last released its earnings results on Monday, July 29th. The company reported ($0.03) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.30 by ($0.33). The business had revenue of $39.57 million for the quarter, compared to analyst estimates of $39.31 million. NETSTREIT had a return on equity of 0.39% and a net margin of 3.32%. During the same quarter in the previous year, the firm posted $0.30 EPS. As a group, equities research analysts anticipate that NETSTREIT will post 1.19 earnings per share for the current year.

NETSTREIT Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Tuesday, September 3rd were paid a $0.21 dividend. The ex-dividend date was Tuesday, September 3rd. This represents a $0.84 dividend on an annualized basis and a yield of 5.02%. This is a positive change from NETSTREIT’s previous quarterly dividend of $0.21. NETSTREIT’s dividend payout ratio is presently 933.33%.

Hedge Funds Weigh In On NETSTREIT

Hedge funds have recently bought and sold shares of the stock. Quarry LP acquired a new stake in shares of NETSTREIT during the second quarter valued at $45,000. Point72 DIFC Ltd acquired a new stake in shares of NETSTREIT during the 2nd quarter worth about $83,000. Van ECK Associates Corp boosted its stake in shares of NETSTREIT by 13.7% during the 2nd 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 last quarter. Quest Partners LLC purchased a new stake in shares of NETSTREIT during the second quarter worth about $202,000. Finally, ProShare Advisors LLC raised its position in shares of NETSTREIT by 8.5% in the first quarter. ProShare Advisors LLC now owns 12,434 shares of the company’s stock valued at $228,000 after buying an additional 977 shares during 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.