NETSTREIT (NYSE:NTST) Reaches New 52-Week High – Time to Buy?

NETSTREIT Corp. (NYSE:NTST)’s stock price reached a new 52-week high during trading on Friday . The stock traded as high as $19.18 and last traded at $19.08, with a volume of 188461 shares traded. The stock had previously closed at $19.02.

Analysts Set New Price Targets

NTST has been the subject of several recent research reports. Berenberg Bank initiated coverage on shares of NETSTREIT in a research report on Monday, October 13th. They set a “buy” rating and a $22.00 target price for the company. Robert W. Baird boosted their target price on shares of NETSTREIT from $18.00 to $20.00 and gave the stock an “outperform” rating in a research report on Thursday, July 24th. Truist Financial set a $19.00 target price on shares of NETSTREIT in a research report on Friday, July 25th. Weiss Ratings reissued a “hold (c-)” rating on shares of NETSTREIT in a research report on Wednesday, October 8th. Finally, UBS Group boosted their target price on shares of NETSTREIT from $20.00 to $21.00 and gave the stock a “buy” rating in a research report on Friday, August 15th. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $20.20.

NETSTREIT Stock Up 0.1%

The company has a current ratio of 3.83, a quick ratio of 3.83 and a debt-to-equity ratio of 0.70. The stock’s 50-day simple moving average is $18.35 and its 200-day simple moving average is $17.18. The firm has a market capitalization of $1.59 billion, a P/E ratio of -238.00, a P/E/G ratio of 3.08 and a beta of 0.90.

NETSTREIT Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Tuesday, September 2nd were paid a $0.215 dividend. The ex-dividend date was Tuesday, September 2nd. This is a positive change from NETSTREIT’s previous quarterly dividend of $0.21. This represents a $0.86 dividend on an annualized basis and a yield of 4.5%. NETSTREIT’s dividend payout ratio is presently -1,075.00%.

Insiders Place Their Bets

In related news, CEO Mark Manheimer bought 5,600 shares of the company’s stock in a transaction on Friday, September 5th. The shares were purchased at an average cost of $17.93 per share, for a total transaction of $100,408.00. Following the completion of the purchase, the chief executive officer directly owned 316,378 shares in the company, valued at $5,672,657.54. The trade was a 1.80% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. 0.58% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in NTST. EverSource Wealth Advisors LLC boosted its stake in NETSTREIT by 1,123.3% in the second quarter. EverSource Wealth Advisors LLC now owns 1,786 shares of the company’s stock valued at $30,000 after acquiring an additional 1,640 shares during the last quarter. Assetmark Inc. boosted its stake in NETSTREIT by 126.3% in the first quarter. Assetmark Inc. now owns 2,150 shares of the company’s stock valued at $34,000 after acquiring an additional 1,200 shares during the last quarter. CWM LLC boosted its stake in NETSTREIT by 78.2% in the first quarter. CWM LLC now owns 2,253 shares of the company’s stock valued at $36,000 after acquiring an additional 989 shares during the last quarter. State of Wyoming purchased a new position in NETSTREIT in the first quarter valued at about $58,000. Finally, GAMMA Investing LLC boosted its stake in NETSTREIT by 2,779.7% in the first quarter. GAMMA Investing LLC now owns 7,228 shares of the company’s stock valued at $115,000 after acquiring an additional 6,977 shares during 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.