NETSTREIT (NYSE:NTST) Cut to “Outperform” at Raymond James Financial

Raymond James Financial downgraded shares of NETSTREIT (NYSE:NTST) from a strong-buy rating to an outperform rating in a report released on Tuesday morning, Marketbeat Ratings reports. They currently have $22.00 price objective on the stock, up from their previous price objective of $21.00.

Other research analysts have also recently issued research reports about the company. UBS Group upped their target price on NETSTREIT from $21.00 to $24.00 and gave the company a “buy” rating in a research note on Monday, March 9th. BTIG Research boosted their price objective on NETSTREIT from $19.00 to $22.00 and gave the company a “buy” rating in a report on Tuesday, March 3rd. Scotiabank upped their price objective on NETSTREIT from $21.00 to $22.00 and gave the company a “sector outperform” rating in a research report on Monday, March 2nd. Mizuho increased their target price on NETSTREIT from $19.00 to $23.00 and gave the stock an “outperform” rating in a research note on Wednesday, March 11th. Finally, Cantor Fitzgerald lifted their target price on NETSTREIT from $20.00 to $22.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 17th. Eleven equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $21.50.

NETSTREIT Price Performance

NETSTREIT stock opened at $19.70 on Tuesday. NETSTREIT has a 12-month low of $14.00 and a 12-month high of $21.30. The company has a current ratio of 3.12, a quick ratio of 3.12 and a debt-to-equity ratio of 0.75. The firm has a 50-day moving average price of $19.49 and a 200-day moving average price of $18.59. The firm has a market capitalization of $1.91 billion, a PE ratio of 218.83, a price-to-earnings-growth ratio of 3.09 and a beta of 0.86.

NETSTREIT (NYSE:NTST) last issued its quarterly earnings results on Tuesday, February 10th. The company reported $0.02 EPS for the quarter, missing the consensus estimate of $0.33 by ($0.31). The firm had revenue of $52.50 million for the quarter, compared to the consensus estimate of $50.98 million. NETSTREIT had a net margin of 3.54% and a return on equity of 0.51%. As a group, equities research analysts forecast that NETSTREIT will post 1.19 EPS for the current year.

NETSTREIT Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Monday, March 16th will be issued a $0.22 dividend. The ex-dividend date is Monday, March 16th. This is a positive change from NETSTREIT’s previous quarterly dividend of $0.22. This represents a $0.88 dividend on an annualized basis and a dividend yield of 4.5%. NETSTREIT’s dividend payout ratio (DPR) is presently 977.78%.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the company. Loomis Sayles & Co. L P grew its position in shares of NETSTREIT by 959.0% during the 4th quarter. Loomis Sayles & Co. L P now owns 1,472 shares of the company’s stock worth $26,000 after buying an additional 1,333 shares in the last quarter. EverSource Wealth Advisors LLC increased its stake in shares of NETSTREIT by 1,123.3% during the second quarter. EverSource Wealth Advisors LLC now owns 1,786 shares of the company’s stock valued at $30,000 after buying an additional 1,640 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of NETSTREIT by 36.3% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,440 shares of the company’s stock valued at $43,000 after acquiring an additional 650 shares in the last quarter. Kestra Advisory Services LLC purchased a new stake in NETSTREIT in the fourth quarter worth about $44,000. Finally, Inspire Investing LLC purchased a new stake in NETSTREIT in the fourth quarter worth about $45,000.

NETSTREIT Company Profile

NetSTREIT Corp. is a real estate investment trust that specializes in the acquisition and management of single‐tenant, net lease retail properties across the United States. The company targets assets leased to investment‐grade or creditworthy tenants under long‐term, triple‐net leases, which generally shift property‐level expenses—such as taxes, insurance and maintenance—to the tenant. This business model is designed to generate predictable, stable income streams and to limit landlord responsibilities.

NetSTREIT’s portfolio encompasses a diversified mix of essential retail and service properties, including quick‐service restaurants, convenience stores, banks, automotive service centers and medical clinics.