NETSTREIT (NYSE:NTST) Hits New 12-Month Low - What's Next?

NETSTREIT Corp. (NYSE:NTST - Get Free Report)'s stock price reached a new 52-week low on Wednesday . The stock traded as low as $14.70 and last traded at $14.73, with a volume of 561186 shares trading hands. The stock had previously closed at $14.93.

Wall Street Analyst Weigh In

A number of brokerages have commented on NTST. Raymond James upgraded NETSTREIT from an "outperform" rating to a "strong-buy" rating and decreased their price objective for the stock from $20.00 to $19.00 in a research report on Wednesday, August 21st. UBS Group started coverage on shares of NETSTREIT in a research report on Monday, October 14th. They set a "buy" rating and a $19.00 price objective on the stock. Stifel Nicolaus dropped their price objective on shares of NETSTREIT from $19.50 to $19.25 and set a "buy" rating on the stock in a research note on Tuesday, November 5th. Truist Financial decreased their target price on shares of NETSTREIT from $20.00 to $19.00 and set a "buy" rating for the company in a research note on Thursday, December 5th. Finally, Scotiabank raised shares of NETSTREIT from a "sector perform" rating to a "sector outperform" rating and upped their price target for the stock from $16.00 to $18.00 in a research note on Monday, November 11th. Two investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, NETSTREIT presently has an average rating of "Moderate Buy" and a consensus price target of $19.03.

NETSTREIT Stock Performance

The firm has a market cap of $1.17 billion, a price-to-earnings ratio of -237.96 and a beta of 0.97. The firm's 50 day moving average is $15.80 and its 200-day moving average is $16.28. The company has a debt-to-equity ratio of 0.57, a quick ratio of 4.11 and a current ratio of 4.11.

NETSTREIT (NYSE:NTST - Get Free Report) last announced its quarterly earnings results on Monday, November 4th. The company reported ($0.07) earnings per share for the quarter, missing analysts' consensus estimates of $0.30 by ($0.37). The company had revenue of $41.44 million during 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 period in the prior year, the firm earned $0.31 EPS. Sell-side analysts anticipate that NETSTREIT Corp. will post 1.19 earnings per share for the current fiscal year.

NETSTREIT Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, December 13th. Shareholders of record on Monday, December 2nd were issued a dividend of $0.21 per share. The ex-dividend date was Monday, December 2nd. This represents a $0.84 annualized dividend and a yield of 5.88%. NETSTREIT's dividend payout ratio (DPR) is presently -1,400.00%.

Institutional Trading of NETSTREIT

A number of institutional investors and hedge funds have recently modified their holdings of the company. Quarry LP bought a new position in NETSTREIT in the 2nd quarter worth $45,000. Point72 DIFC Ltd bought a new position in shares of NETSTREIT in the second quarter worth about $83,000. Hohimer Wealth Management LLC acquired a new position in shares of NETSTREIT during the 3rd quarter worth about $166,000. Sanctuary Advisors LLC acquired a new position in shares of NETSTREIT during the 3rd quarter worth about $169,000. Finally, Custom Index Systems LLC bought a new stake in NETSTREIT during the 3rd quarter valued at approximately $170,000.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.