The stock of NETSTREIT Corp. (NYSE:NTST) last traded at $19.49, down -0.51% from the previous session.
Data from the available sources indicates that NETSTREIT Corp. (NYSE:NTST) is covered by 11 analysts. The consensus rating among analysts is ‘Overweight’. As we calculate the median target price by taking the range between a high of $32.00 and a low of $20.00, we find $22.00. Given the previous closing price of $19.59, this indicates a potential upside of 12.3 percent. NTST stock price is now 2.35% away from the 50-day moving average and -1.72% away from the 200-day moving average. The market capitalization of the company currently stands at $1.07B.
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In total, 3 analysts have assigned it a hold rating, and 6 have given it a buy rating. Brokers who have rated the stock have averaged $22.73 as their price target over the next twelve months.
With the price target reduced from $23 to $21, Raymond James Downgraded its rating from Strong Buy to Outperform for NETSTREIT Corp. (NYSE: NTST)., while ‘BofA Securities’ rates the stock as ‘Neutral’.
In other news, Zeigler Robin McBride, Director sold 1,563 shares of the company’s stock on Mar 10. The stock was sold for $33,386 at an average price of $21.36. Upon completion of the transaction, the Director now directly owns 3,363 shares in the company, valued at $65544.87. An SEC document containing details of the transaction can be found on the SEC’s website. On Mar 10, Director Wittman Lori sold 1,482 shares of the business’s stock. A total of $31,656 was realized by selling the stock at an average price of $21.36. This leaves the insider owning 6,454 shares of the company worth $0.13 million. Insiders disposed of 33,641 shares of company stock worth roughly $0.66 million over the past 1 year. A total of 0.30% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in NTST stock. A new stake in NETSTREIT Corp. shares was purchased by CBRE INVESTMENT MANAGEMENT LISTED REAL ASSETS LLC during the first quarter worth $16,999,000. GRS ADVISORS, LLC invested $13,240,000 in shares of NTST during the first quarter. In the first quarter, ADAGE CAPITAL PARTNERS GP, L.L.C. acquired a new stake in NETSTREIT Corp. valued at approximately $9,745,000. ZIMMER PARTNERS, LP acquired a new stake in NTST for approximately $8,819,000. ADELANTE CAPITAL MANAGEMENT LLC purchased a new stake in NTST valued at around $8,222,000 in the second quarter.
With an opening price of $19.58 on Monday morning, NETSTREIT Corp. (NYSE: NTST) set off the trading day. During the past 12 months, NETSTREIT Corp. has had a low of $17.07 and a high of $23.72. The fifty day moving average price for NTST is $19.04 and a two-hundred day moving average price translates $19.83 for the stock.
The latest earnings results from NETSTREIT Corp. (NYSE: NTST) was released for Sep, 2022. According to the REIT – Retail Company, earnings per share came in at $0.03, inline with analysts’ expectations of $0.03. This compares to $0.07 EPS in the same period last year. The net profit margin was 8.50% and return on equity was 0.80% for NTST. The company reported revenue of $25.01 million for the quarter, compared to $15.6 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 60.31 percent. For the current quarter, analysts expect NTST to generate $26.57M in revenue.
Moreover, the firm recently paid out its quarterly dividend on 12/15/2022. Investors who held shares on 12/01/2022 were paid a $0.20 dividend. On an annualized basis, this represents a $0.80 dividend and a 4.10% percent yield. There was an ex-dividend date of 11/30/2022 for this dividend. In terms of dividend payout ratio, NTST is presently at 495.90%.
NETSTREIT Corp.(NTST) Company Profile
NETSTREIT 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. Led by a management team of seasoned commercial real estate executives, NETSTREIT’s strategy is to create the highest quality net lease retail portfolio in the country with the goal of generating consistent cash flows and dividends for its investors.
