Scotiabank Upgrades NETSTREIT (NYSE:NTST) to Sector Outperform

NETSTREIT (NYSE:NTST - Get Free Report) was upgraded by analysts at Scotiabank from a "sector perform" rating to a "sector outperform" rating in a research note issued to investors on Monday, MarketBeat reports. The brokerage presently has a $18.00 price objective on the stock, up from their prior price objective of $16.00. Scotiabank's target price suggests a potential upside of 11.39% from the stock's current price.

A number of other equities research analysts have also recently commented on the company. Raymond James raised NETSTREIT from an "outperform" rating to a "strong-buy" rating and reduced their price objective for the company from $20.00 to $19.00 in a research note on Wednesday, August 21st. Stifel Nicolaus decreased their price target on shares of NETSTREIT from $19.50 to $19.25 and set a "buy" rating for the company in a research note on Tuesday, November 5th. Wedbush assumed coverage on shares of NETSTREIT in a research report on Monday, August 19th. They set a "neutral" rating and a $17.00 target price for the company. Finally, UBS Group initiated coverage on shares of NETSTREIT in a research report on Monday, October 14th. They issued a "buy" rating and a $19.00 price target on the stock. Three analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $18.30.

NETSTREIT Trading Up 0.1 %

NTST stock traded up $0.02 during mid-day trading on Monday, reaching $16.16. The company's stock had a trading volume of 532,160 shares, compared to its average volume of 1,011,774. The company has a market cap of $1.32 billion, a price-to-earnings ratio of -268.96 and a beta of 0.97. NETSTREIT has a 12 month low of $14.92 and a 12 month high of $18.97. The business's 50 day moving average price is $16.23 and its 200 day moving average price is $16.60. The company has a current ratio of 4.11, a quick ratio of 4.08 and a debt-to-equity ratio of 0.57.

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

Institutional Investors Weigh In On NETSTREIT

Several large investors have recently added to or reduced their stakes in NTST. Quarry LP purchased a new position in shares of NETSTREIT in the 2nd quarter worth about $45,000. Point72 DIFC Ltd bought a new stake in NETSTREIT in the 2nd quarter worth approximately $83,000. M&G PLC purchased a new stake in NETSTREIT in the third quarter worth approximately $173,000. Custom Index Systems LLC bought a new position in NETSTREIT during the third quarter valued at approximately $170,000. Finally, Van ECK Associates Corp raised its stake in shares of NETSTREIT by 13.7% during the second quarter. Van ECK Associates Corp now owns 11,280 shares of the company's stock worth $182,000 after acquiring an additional 1,359 shares in 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.