NETSTREIT (NYSE:NTST) Hits New 12-Month Low – What’s Next?

NETSTREIT Corp. (NYSE:NTST)’s stock price reached a new 52-week low on Wednesday . The stock traded as low as $14.70 and last traded at $14.73, with a volume of 561186 shares trading hands. The stock had previously closed at $14.93.

Wall Street Analyst Weigh In

A number of brokerages have commented on NTST. Raymond James upgraded NETSTREIT from an “outperform” rating to a “strong-buy” rating and decreased their price objective for the stock from $20.00 to $19.00 in a research report on Wednesday, August 21st. UBS Group started coverage on shares of NETSTREIT in a research report on Monday, October 14th. They set a “buy” rating and a $19.00 price objective on the stock. Stifel Nicolaus dropped their price objective on shares of NETSTREIT from $19.50 to $19.25 and set a “buy” rating on the stock in a research note on Tuesday, November 5th. Truist Financial decreased their target price on shares of NETSTREIT from $20.00 to $19.00 and set a “buy” rating for the company in a research note on Thursday, December 5th. Finally, Scotiabank raised shares of NETSTREIT from a “sector perform” rating to a “sector outperform” rating and upped their price target for the stock from $16.00 to $18.00 in a research note on Monday, November 11th. Two investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, NETSTREIT presently has an average rating of “Moderate Buy” and a consensus price target of $19.03.

NETSTREIT Stock Performance

The firm has a market cap of $1.17 billion, a price-to-earnings ratio of -237.96 and a beta of 0.97. The firm’s 50 day moving average is $15.80 and its 200-day moving average is $16.28. The company has a debt-to-equity ratio of 0.57, a quick ratio of 4.11 and a current ratio of 4.11.

NETSTREIT (NYSE:NTST) last announced its quarterly earnings results on Monday, November 4th. The company reported ($0.07) earnings per share for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.37). The company had revenue of $41.44 million during the quarter, compared to analyst estimates of $41.10 million. NETSTREIT had a negative return on equity of 0.35% and a negative net margin of 2.96%. During the same period in the prior year, the firm earned $0.31 EPS. Sell-side analysts anticipate that NETSTREIT Corp. will post 1.19 earnings per share for the current fiscal year.

NETSTREIT Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, December 13th. Shareholders of record on Monday, December 2nd were issued a dividend of $0.21 per share. The ex-dividend date was Monday, December 2nd. This represents a $0.84 annualized dividend and a yield of 5.88%. NETSTREIT’s dividend payout ratio (DPR) is presently -1,400.00%.

Institutional Trading of NETSTREIT

A number of institutional investors and hedge funds have recently modified their holdings of the company. Quarry LP bought a new position in NETSTREIT in the 2nd quarter worth $45,000. Point72 DIFC Ltd bought a new position in shares of NETSTREIT in the second quarter worth about $83,000. Hohimer Wealth Management LLC acquired a new position in shares of NETSTREIT during the 3rd quarter worth about $166,000. Sanctuary Advisors LLC acquired a new position in shares of NETSTREIT during the 3rd quarter worth about $169,000. Finally, Custom Index Systems LLC bought a new stake in NETSTREIT during the 3rd quarter valued at approximately $170,000.

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.