NETSTREIT Corp. (NYSE:NTST - Get Free Report) shares saw strong trading volume on Thursday . 2,568,527 shares were traded during mid-day trading, an increase of 157% from the previous session's volume of 1,001,135 shares.The stock last traded at $16.08 and had previously closed at $16.24.
Wall Street Analysts Forecast Growth
NTST has been the topic of a number of recent analyst reports. Scotiabank reduced their price target on NETSTREIT from $18.00 to $16.00 and set a "sector perform" rating on the stock in a research note on Wednesday, August 7th. Wedbush initiated coverage on NETSTREIT in a research report on Monday, August 19th. They set a "neutral" rating and a $17.00 target price on the stock. Finally, Raymond James upgraded NETSTREIT from an "outperform" rating to a "strong-buy" rating and lowered their price target for the company from $20.00 to $19.00 in a report on Wednesday, August 21st. One analyst has rated the stock with a sell rating, four have given a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, NETSTREIT presently has an average rating of "Moderate Buy" and an average target price of $17.88.
Get Our Latest Research Report on NETSTREIT
NETSTREIT Trading Down 1.2 %
The business's 50-day simple moving average is $16.46 and its two-hundred day simple moving average is $16.89. The stock has a market capitalization of $1.18 billion, a price-to-earnings ratio of 180.50 and a beta of 0.97. The company has a debt-to-equity ratio of 0.55, a current ratio of 4.08 and a quick ratio of 4.08.
NETSTREIT (NYSE:NTST - Get Free Report) last announced its quarterly earnings results on Monday, July 29th. The company reported ($0.03) earnings per share for the quarter, missing analysts' consensus estimates of $0.30 by ($0.33). The business had revenue of $39.57 million for the quarter, compared to analysts' expectations of $39.31 million. NETSTREIT had a return on equity of 0.39% and a net margin of 3.32%. During the same period last year, the company posted $0.30 earnings per share. On average, research analysts anticipate that NETSTREIT Corp. will post 1.19 earnings per share for the current fiscal year.
NETSTREIT Increases Dividend
The business also recently declared a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Tuesday, September 3rd were issued a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 5.24%. The ex-dividend date of this dividend was Tuesday, September 3rd. This is a boost from NETSTREIT's previous quarterly dividend of $0.21. NETSTREIT's dividend payout ratio is currently 933.33%.
Hedge Funds Weigh In On NETSTREIT
Institutional investors have recently added to or reduced their stakes in the company. ProShare Advisors LLC raised its position in shares of NETSTREIT by 8.5% in the 1st quarter. ProShare Advisors LLC now owns 12,434 shares of the company's stock valued at $228,000 after purchasing an additional 977 shares in the last quarter. Van ECK Associates Corp boosted its stake in 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. Arizona State Retirement System grew its holdings in NETSTREIT by 8.6% during the 2nd quarter. Arizona State Retirement System now owns 20,498 shares of the company's stock worth $330,000 after acquiring an additional 1,617 shares in the last quarter. Daiwa Securities Group Inc. increased its position in shares of NETSTREIT by 9.9% in the 1st quarter. Daiwa Securities Group Inc. now owns 22,182 shares of the company's stock worth $407,000 after purchasing an additional 2,003 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of NETSTREIT by 10.2% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 25,581 shares of the company's stock valued at $412,000 after purchasing an additional 2,373 shares in the last quarter.
NETSTREIT Company Profile
(
Get Free Report)
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.
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