NETSTREIT (NYSE:NTST) Shares Gap Up – Here’s What Happened

NETSTREIT Corp. (NYSE:NTST) shares gapped up prior to trading on Tuesday . The stock had previously closed at $15.09, but opened at $16.34. NETSTREIT shares last traded at $15.72, with a volume of 203,157 shares trading hands.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. Raymond James upgraded NETSTREIT from an “outperform” rating to a “strong-buy” rating and dropped their target price for the stock from $20.00 to $19.00 in a research report on Wednesday, August 21st. Scotiabank cut their target price on shares of NETSTREIT from $18.00 to $16.00 and set a “sector perform” rating on the stock in a research report on Wednesday, August 7th. 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 for the company. Wedbush assumed coverage on NETSTREIT in a research report on Monday, August 19th. They issued a “neutral” rating and a $17.00 price target on the stock. Finally, Stifel Nicolaus decreased their price objective on shares of NETSTREIT from $19.50 to $19.25 and set a “buy” rating for the company in a report on Tuesday. Four equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, NETSTREIT currently has an average rating of “Moderate Buy” and an average price target of $18.11.

NETSTREIT Price Performance

The company has a market cap of $1.23 billion, a P/E ratio of 223.71 and a beta of 0.97. The company has a debt-to-equity ratio of 0.55, a quick ratio of 4.08 and a current ratio of 4.08. The company has a fifty day moving average price of $16.30 and a two-hundred day moving average price of $16.63.

Institutional Trading of NETSTREIT

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. GSA Capital Partners LLP increased its holdings in shares of NETSTREIT by 173.4% during the 1st quarter. GSA Capital Partners LLP now owns 88,908 shares of the company’s stock worth $1,633,000 after acquiring an additional 56,393 shares during the last quarter. Silvercrest Asset Management Group LLC raised its holdings in NETSTREIT by 22.2% in the 1st quarter. Silvercrest Asset Management Group LLC now owns 1,007,072 shares of the company’s stock valued at $18,500,000 after acquiring an additional 183,058 shares during the period. Vanguard Group Inc. boosted its holdings in shares of NETSTREIT by 8.3% during the first quarter. Vanguard Group Inc. now owns 7,352,295 shares of the company’s stock worth $135,062,000 after acquiring an additional 566,513 shares during the period. Russell Investments Group Ltd. increased its position in NETSTREIT by 64.9% during the 1st quarter. Russell Investments Group Ltd. now owns 1,593,752 shares of the company’s stock worth $29,277,000 after buying an additional 627,514 shares during the period. Finally, Teachers Retirement System of The State of Kentucky boosted its holdings in NETSTREIT by 32.0% in the 1st quarter. Teachers Retirement System of The State of Kentucky now owns 134,914 shares of the company’s stock valued at $2,478,000 after purchasing an additional 32,688 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.