NETSTREIT (NYSE:NTST) Shares Gap Up - Here's Why

NETSTREIT Corp. (NYSE:NTST - Get Free Report) shares gapped up before the market opened 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.

Analyst Ratings Changes

Several research firms have issued reports on NTST. Wedbush began coverage on shares of NETSTREIT in a research note on Monday, August 19th. They set a "neutral" rating and a $17.00 target price on the stock. Stifel Nicolaus lowered their target price on shares of NETSTREIT from $19.50 to $19.25 and set a "buy" rating on the stock in a research note on Tuesday. UBS Group began coverage on shares of NETSTREIT in a research note on Monday, October 14th. They set a "buy" rating and a $19.00 target price on the stock. Scotiabank lowered 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 note on Wednesday, August 7th. Finally, Raymond James raised shares of NETSTREIT from an "outperform" rating to a "strong-buy" rating and reduced their price target for the company from $20.00 to $19.00 in a research 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. Based on data from MarketBeat.com, NETSTREIT currently has an average rating of "Moderate Buy" and an average price target of $18.11.

NETSTREIT Stock Up 5.4 %

The company's fifty day moving average is $16.30 and its 200-day moving average is $16.63. The company has a market capitalization of $1.23 billion, a PE ratio of 227.00 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.

NETSTREIT Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Monday, December 2nd will be paid a $0.21 dividend. The ex-dividend date is Monday, December 2nd. This represents a $0.84 annualized dividend and a yield of 5.28%. NETSTREIT's payout ratio is 1,200.00%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in NTST. Quarry LP bought a new position in shares of NETSTREIT during the 2nd quarter valued at approximately $45,000. Point72 DIFC Ltd bought a new position in shares of NETSTREIT during the 2nd quarter valued at approximately $83,000. Custom Index Systems LLC bought a new position in shares of NETSTREIT during the 3rd quarter valued at approximately $170,000. M&G PLC bought a new position in shares of NETSTREIT during the 3rd quarter valued at approximately $173,000. Finally, Van ECK Associates Corp boosted its position 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 valued at $182,000 after acquiring an additional 1,359 shares during 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.