NETSTREIT (NYSE:NTST) Sets New 1-Year Low - What's Next?

NETSTREIT Corp. (NYSE:NTST - Get Free Report) hit a new 52-week low during mid-day trading on Monday . The company traded as low as $13.72 and last traded at $13.75, with a volume of 695601 shares traded. The stock had previously closed at $13.99.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on NTST shares. Truist Financial dropped their target price on shares of NETSTREIT from $20.00 to $19.00 and set a "buy" rating on the stock in a report on Thursday, December 5th. Stifel Nicolaus dropped their target price on shares of NETSTREIT from $19.50 to $19.25 and set a "buy" rating on the stock in a research report on Tuesday, November 5th. Scotiabank raised shares of NETSTREIT from a "sector perform" rating to a "sector outperform" rating and increased their target price for the stock from $16.00 to $18.00 in a research note on Monday, November 11th. Finally, UBS Group started coverage on NETSTREIT in a research note on Monday, October 14th. They issued a "buy" rating and a $19.00 target price for the company. Two investment analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, NETSTREIT has a consensus rating of "Moderate Buy" and an average price target of $18.61.

NETSTREIT Stock Performance

The company has a 50-day moving average of $15.25 and a 200-day moving average of $15.99. The company has a market cap of $1.12 billion, a PE ratio of -228.96 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.

NETSTREIT (NYSE:NTST - Get Free Report) last announced its earnings results on Monday, November 4th. The company reported ($0.07) EPS for the quarter, missing the consensus estimate of $0.30 by ($0.37). NETSTREIT had a negative net margin of 2.96% and a negative return on equity of 0.35%. The firm had revenue of $41.44 million during the quarter, compared to analysts' expectations of $41.10 million. During the same quarter in the prior year, the company earned $0.31 EPS. As a group, analysts anticipate that NETSTREIT Corp. will post 1.19 earnings per share for the current year.

NETSTREIT Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 13th. Shareholders of record on Monday, December 2nd were paid a $0.21 dividend. The ex-dividend date was Monday, December 2nd. This represents a $0.84 dividend on an annualized basis and a yield of 6.11%. NETSTREIT's dividend payout ratio (DPR) is presently -1,400.00%.

Institutional Investors Weigh In On NETSTREIT

A number of hedge funds have recently made changes to their positions in NTST. Quarry LP bought a new stake in shares of NETSTREIT in the 2nd quarter worth approximately $45,000. Point72 DIFC Ltd bought a new position in shares of NETSTREIT in the second quarter worth $83,000. Hohimer Wealth Management LLC purchased a new position in shares of NETSTREIT in the third quarter valued at $166,000. Sanctuary Advisors LLC bought a new position in shares of NETSTREIT in the third quarter valued at approximately $169,000. Finally, Custom Index Systems LLC purchased a new position in NETSTREIT during the third quarter valued at approximately $170,000.

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.