NETSTREIT Corp. (NYSE:NTST) Receives Average Rating of “Buy” from Brokerages

NETSTREIT Corp. (NYSE:NTST) has been given an average recommendation of “Buy” by the eight analysts that are presently covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating on the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $17.75.

Several equities research analysts recently commented on the stock. Truist Financial cut their price objective on shares of NETSTREIT from $20.00 to $19.00 and set a “buy” rating on the stock in a research report on Thursday, December 5th. Raymond James lowered their price objective on shares of NETSTREIT from $19.00 to $17.00 and set a “strong-buy” rating on the stock in a research note on Friday, January 17th. Capital One Financial started coverage on shares of NETSTREIT in a research note on Wednesday, February 12th. They issued an “overweight” rating on the stock. Mizuho cut their price objective on shares of NETSTREIT from $17.00 to $15.00 and set an “outperform” rating for the company in a report on Wednesday, January 8th. 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 report on Monday, November 11th.

NETSTREIT Trading Up 1.1 %

Shares of NYSE NTST opened at $14.06 on Friday. The company’s fifty day moving average is $14.24 and its 200-day moving average is $15.47. The stock has a market cap of $1.15 billion, a price-to-earnings ratio of -234.21 and a beta of 1.00. NETSTREIT has a twelve month low of $13.42 and a twelve month high of $18.97. The company has a quick ratio of 4.11, a current ratio of 4.11 and a debt-to-equity ratio of 0.57.

Hedge Funds Weigh In On NETSTREIT

Several institutional investors and hedge funds have recently added to or reduced their stakes in NTST. Sumitomo Mitsui Trust Group Inc. increased its position in shares of NETSTREIT by 1,931.7% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,615,264 shares of the company’s stock worth $26,700,000 after buying an additional 1,535,761 shares during the period. Principal Financial Group Inc. boosted its position in shares of NETSTREIT by 46.4% in the fourth quarter. Principal Financial Group Inc. now owns 4,800,208 shares of the company’s stock valued at $67,924,000 after acquiring an additional 1,521,668 shares during the period. Tributary Capital Management LLC bought a new position in shares of NETSTREIT in the fourth quarter valued at approximately $12,633,000. Hudson Bay Capital Management LP lifted its position in NETSTREIT by 195.9% during the fourth quarter. Hudson Bay Capital Management LP now owns 1,338,746 shares of the company’s stock valued at $18,943,000 after purchasing an additional 886,283 shares during the last quarter. Finally, DigitalBridge Group Inc. lifted its position in NETSTREIT by 1,175.4% during the fourth quarter. DigitalBridge Group Inc. now owns 953,968 shares of the company’s stock valued at $13,499,000 after purchasing an additional 879,168 shares during the last quarter.

About NETSTREIT

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.