NETSTREIT (NYSE:NTST) Raised to Strong-Buy at Wells Fargo & Company

NETSTREIT (NYSE:NTST - Get Free Report) was upgraded by stock analysts at Wells Fargo & Company from an "equal weight" rating to a "strong-buy" rating in a research report issued on Monday, April 7th, MarketBeat Ratings reports. The brokerage currently has a $18.00 target price on the stock. Wells Fargo & Company's price target would suggest a potential upside of 15.02% from the company's current price.

Several other equities analysts have also issued reports on the company. Raymond James lowered their price target on NETSTREIT from $19.00 to $17.00 and set a "strong-buy" rating for the company in a research report on Friday, January 17th. Capital One Financial began coverage on shares of NETSTREIT in a research note on Wednesday, February 12th. They issued an "overweight" rating on the stock. Finally, Mizuho increased their price target on shares of NETSTREIT from $15.00 to $17.00 and gave the company an "outperform" rating in a report on Thursday, April 3rd. One investment analyst has rated the stock with a hold rating, six have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Buy" and a consensus target price of $18.03.

NETSTREIT Stock Up 0.9 %

Shares of NETSTREIT stock traded up $0.14 during midday trading on Monday, hitting $15.65. The company had a trading volume of 444,559 shares, compared to its average volume of 913,425. The company has a 50 day moving average of $14.90 and a 200 day moving average of $15.10. The stock has a market capitalization of $1.28 billion, a P/E ratio of -260.79 and a beta of 0.91. NETSTREIT has a 52-week low of $13.42 and a 52-week high of $18.10. The company has a debt-to-equity ratio of 0.57, a quick ratio of 4.11 and a current ratio of 4.11.

Insider Transactions at NETSTREIT

In other news, CEO Mark Manheimer acquired 6,384 shares of the business's stock in a transaction on Monday, March 10th. The stock was bought at an average price of $15.33 per share, with a total value of $97,866.72. Following the completion of the acquisition, the chief executive officer now owns 304,572 shares of the company's stock, valued at approximately $4,669,088.76. This represents a 2.14 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders have bought a total of 12,000 shares of company stock valued at $183,172 in the last 90 days. Insiders own 0.46% of the company's stock.

Institutional Investors Weigh In On NETSTREIT

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Lazard Asset Management LLC acquired a new stake in shares of NETSTREIT in the 4th quarter worth $41,000. PNC Financial Services Group Inc. boosted its position in shares of NETSTREIT by 861.1% during the 4th quarter. PNC Financial Services Group Inc. now owns 5,430 shares of the company's stock worth $77,000 after acquiring an additional 4,865 shares in the last quarter. GAMMA Investing LLC raised its stake in NETSTREIT by 2,779.7% during the 1st quarter. GAMMA Investing LLC now owns 7,228 shares of the company's stock worth $115,000 after acquiring an additional 6,977 shares in the last quarter. Comerica Bank boosted its position in shares of NETSTREIT by 174.3% in the 4th quarter. Comerica Bank now owns 9,703 shares of the company's stock valued at $137,000 after purchasing an additional 6,166 shares during the period. Finally, Hohimer Wealth Management LLC acquired a new stake in shares of NETSTREIT in the third quarter valued at approximately $166,000.

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.