NETSTREIT (NYSE:NTST) Hits New 12-Month High – Here’s Why

NETSTREIT Corp. (NYSE:NTST) shares reached a new 52-week high during mid-day trading on Monday . The company traded as high as $20.61 and last traded at $20.53, with a volume of 16031 shares trading hands. The stock had previously closed at $20.39.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on NTST shares. Robert W. Baird increased their price target on NETSTREIT from $20.00 to $21.00 and gave the company an “outperform” rating in a research note on Tuesday, October 28th. Weiss Ratings reiterated a “hold (c)” rating on shares of NETSTREIT in a report on Monday, December 29th. Mizuho cut their target price on shares of NETSTREIT from $20.00 to $19.00 and set an “outperform” rating for the company in a research note on Wednesday, December 17th. Truist Financial lifted their target price on shares of NETSTREIT from $19.00 to $20.00 and gave the stock a “buy” rating in a report on Monday, November 17th. Finally, Scotiabank reissued an “outperform” rating on shares of NETSTREIT in a report on Monday, February 2nd. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, NETSTREIT has a consensus rating of “Moderate Buy” and an average price target of $20.64.

NETSTREIT Stock Down 0.1%

The company has a current ratio of 3.12, a quick ratio of 3.12 and a debt-to-equity ratio of 0.75. The firm has a market cap of $1.98 billion, a price-to-earnings ratio of 226.44, a PEG ratio of 3.18 and a beta of 0.88. The firm’s 50 day simple moving average is $18.35 and its two-hundred day simple moving average is $18.34.

NETSTREIT (NYSE:NTST) last announced its earnings results on Tuesday, February 10th. The company reported $0.02 EPS for the quarter, missing the consensus estimate of $0.33 by ($0.31). NETSTREIT had a return on equity of 0.51% and a net margin of 3.54%.The business had revenue of $52.50 million for the quarter, compared to the consensus estimate of $50.98 million. On average, equities analysts forecast that NETSTREIT Corp. will post 1.19 EPS for the current year.

NETSTREIT Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Monday, March 16th will be issued a $0.22 dividend. The ex-dividend date of this dividend is Monday, March 16th. This represents a $0.88 annualized dividend and a yield of 4.3%. This is a boost from NETSTREIT’s previous quarterly dividend of $0.22. NETSTREIT’s payout ratio is presently 955.56%.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Royal Bank of Canada lifted its position in NETSTREIT by 343.1% during the first quarter. Royal Bank of Canada now owns 36,730 shares of the company’s stock worth $582,000 after purchasing an additional 28,441 shares during the period. Amundi raised its position in NETSTREIT by 1.6% during the first quarter. Amundi now owns 45,361 shares of the company’s stock valued at $709,000 after purchasing an additional 704 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of NETSTREIT by 10.2% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 48,757 shares of the company’s stock worth $773,000 after buying an additional 4,501 shares during the last quarter. Goldman Sachs Group Inc. lifted its holdings in shares of NETSTREIT by 3.6% in the first quarter. Goldman Sachs Group Inc. now owns 499,346 shares of the company’s stock worth $7,915,000 after acquiring an additional 17,188 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in NETSTREIT by 8.0% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 567,532 shares of the company’s stock valued at $8,995,000 after purchasing an additional 42,121 shares during the last quarter.

About NETSTREIT

NetSTREIT Corp. is a real estate investment trust that specializes in the acquisition and management of single‐tenant, net lease retail properties across the United States. The company targets assets leased to investment‐grade or creditworthy tenants under long‐term, triple‐net leases, which generally shift property‐level expenses—such as taxes, insurance and maintenance—to the tenant. This business model is designed to generate predictable, stable income streams and to limit landlord responsibilities.

NetSTREIT’s portfolio encompasses a diversified mix of essential retail and service properties, including quick‐service restaurants, convenience stores, banks, automotive service centers and medical clinics.