NETSTREIT (NYSE:NTST) Price Target Lowered to $16.00 at Scotiabank

NETSTREIT (NYSE:NTST) had its price objective reduced by Scotiabank from $18.00 to $16.00 in a research note published on Wednesday, Benzinga reports. They currently have a sector perform rating on the stock.

NETSTREIT Stock Performance

Shares of NETSTREIT stock traded down $0.01 during trading hours on Wednesday, reaching $15.38. The company had a trading volume of 1,584,089 shares, compared to its average volume of 980,033. The firm has a market cap of $1.13 billion, a PE ratio of 170.89, a price-to-earnings-growth ratio of 9.95 and a beta of 0.97. NETSTREIT has a one year low of $13.49 and a one year high of $18.97. The company has a debt-to-equity ratio of 0.55, a current ratio of 4.08 and a quick ratio of 4.30. The business has a fifty day simple moving average of $16.59 and a 200 day simple moving average of $17.13.

NETSTREIT (NYSE:NTST) last issued its quarterly earnings data on Monday, July 29th. The company reported ($0.03) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.33). The company 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 EPS. On average, analysts anticipate that NETSTREIT will post 1.18 earnings per share for the current fiscal year.

NETSTREIT Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 13th. Shareholders of record on Tuesday, September 3rd will be paid a $0.21 dividend. This is a positive change from NETSTREIT’s previous quarterly dividend of $0.21. This represents a $0.84 dividend on an annualized basis and a yield of 5.46%. The ex-dividend date of this dividend is Tuesday, September 3rd. NETSTREIT’s dividend payout ratio is currently 933.33%.

Insider Buying and Selling

In related news, Director Todd Minnis sold 6,250 shares of the firm’s stock in a transaction dated Thursday, May 16th. The stock was sold at an average price of $17.86, for a total transaction of $111,625.00. Following the transaction, the director now directly owns 10,359 shares of the company’s stock, valued at approximately $185,011.74. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 0.46% of the stock is owned by company insiders.

Institutional Investors Weigh In On NETSTREIT

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Lindbrook Capital LLC lifted its holdings in NETSTREIT by 1,721.2% in the 4th quarter. Lindbrook Capital LLC now owns 1,894 shares of the company’s stock worth $34,000 after buying an additional 1,790 shares during the period. Parallel Advisors LLC raised its holdings in shares of NETSTREIT by 702.3% during the fourth quarter. Parallel Advisors LLC now owns 3,442 shares of the company’s stock valued at $61,000 after acquiring an additional 3,013 shares in the last quarter. Signaturefd LLC lifted its stake in NETSTREIT by 266.9% in the fourth quarter. Signaturefd LLC now owns 4,905 shares of the company’s stock worth $88,000 after acquiring an additional 3,568 shares during the period. Quadrant Capital Group LLC lifted its stake in NETSTREIT by 204.9% in the fourth quarter. Quadrant Capital Group LLC now owns 8,361 shares of the company’s stock worth $149,000 after acquiring an additional 5,619 shares during the period. Finally, Van ECK Associates Corp boosted its holdings in NETSTREIT by 22.7% in the fourth quarter. Van ECK Associates Corp now owns 9,694 shares of the company’s stock valued at $173,000 after acquiring an additional 1,796 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.