Raymond James Issues Pessimistic Forecast for NETSTREIT (NYSE:NTST) Stock Price

NETSTREIT (NYSE:NTST) had its price objective reduced by Raymond James from $19.00 to $17.00 in a report issued on Friday,Benzinga reports. Raymond James currently has a strong-buy rating on the stock.

Several other research analysts have also recently weighed in on the stock. UBS Group initiated coverage on shares of NETSTREIT in a report on Monday, October 14th. They issued a “buy” rating and a $19.00 price target on the stock. Stifel Nicolaus dropped their price target on NETSTREIT from $19.50 to $19.25 and set a “buy” rating for the company in a report on Tuesday, November 5th. Scotiabank upgraded NETSTREIT from a “sector perform” rating to a “sector outperform” rating and boosted their price target for the company from $16.00 to $18.00 in a research note on Monday, November 11th. Truist Financial lowered their price objective on NETSTREIT from $20.00 to $19.00 and set a “buy” rating on the stock in a research report on Thursday, December 5th. Finally, Mizuho decreased their price target on shares of NETSTREIT from $17.00 to $15.00 and set an “outperform” rating on the stock in a research note on Wednesday, January 8th. Two research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $17.75.

NETSTREIT Price Performance

NYSE:NTST opened at $14.58 on Friday. The company has a quick ratio of 4.11, a current ratio of 4.11 and a debt-to-equity ratio of 0.57. NETSTREIT has a 12-month low of $13.42 and a 12-month high of $18.97. The stock’s 50 day moving average price is $14.94 and its two-hundred day moving average price is $15.83. The firm has a market capitalization of $1.19 billion, a price-to-earnings ratio of -242.89 and a beta of 1.00.

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

NETSTREIT Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 13th. Investors of record on Monday, December 2nd were given a dividend of $0.21 per share. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $0.84 annualized dividend and a yield of 5.76%. NETSTREIT’s dividend payout ratio is -1,399.77%.

Institutional Trading of NETSTREIT

A number of institutional investors and hedge funds have recently made changes to their positions in NTST. State Street Corp raised its position in NETSTREIT by 2.9% during the third quarter. State Street Corp now owns 3,104,081 shares of the company’s stock valued at $51,310,000 after purchasing an additional 87,669 shares in the last quarter. Rush Island Management LP raised its holdings in shares of NETSTREIT by 18.0% during the 3rd quarter. Rush Island Management LP now owns 2,364,964 shares of the company’s stock worth $39,093,000 after buying an additional 359,993 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of NETSTREIT by 6.0% during the 3rd quarter. Geode Capital Management LLC now owns 1,980,800 shares of the company’s stock worth $32,748,000 after buying an additional 112,047 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. boosted its stake in NETSTREIT by 1,931.7% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,615,264 shares of the company’s stock valued at $26,700,000 after buying an additional 1,535,761 shares in the last quarter. Finally, APG Asset Management US Inc. grew its position in NETSTREIT by 5.6% in the second quarter. APG Asset Management US Inc. now owns 1,520,236 shares of the company’s stock valued at $24,597,000 after acquiring an additional 80,553 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.