NETSTREIT (NYSE:NTST) Hits New 52-Week Low – What’s Next?

NETSTREIT Corp. (NYSE:NTST) reached a new 52-week low during trading on Monday . The stock traded as low as $13.72 and last traded at $13.75, with a volume of 695601 shares changing hands. The stock had previously closed at $13.99.

Analysts Set New Price Targets

Several research firms have issued reports on NTST. Scotiabank upgraded shares of NETSTREIT from a “sector perform” rating to a “sector outperform” rating and boosted their price objective for the stock from $16.00 to $18.00 in a research note on Monday, November 11th. Truist Financial decreased their price target on shares of NETSTREIT from $20.00 to $19.00 and set a “buy” rating for the company in a research report on Thursday, December 5th. Stifel Nicolaus cut their price objective on NETSTREIT from $19.50 to $19.25 and set a “buy” rating on the stock in a research report on Tuesday, November 5th. Finally, UBS Group initiated coverage on NETSTREIT in a research report on Monday, October 14th. They issued a “buy” rating and a $19.00 target price for the company. Two equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $18.61.

NETSTREIT Stock Down 1.8 %

The stock has a market capitalization of $1.12 billion, a P/E ratio of -228.96 and a beta of 1.00. The company has a current ratio of 4.11, a quick ratio of 4.11 and a debt-to-equity ratio of 0.57. The stock’s 50 day simple moving average is $15.29 and its 200 day simple moving average is $16.01.

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

NETSTREIT Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 13th. Investors of record on Monday, December 2nd were paid a dividend of $0.21 per share. The ex-dividend date was Monday, December 2nd. This represents a $0.84 dividend on an annualized basis and a dividend yield of 6.11%. NETSTREIT’s dividend payout ratio is presently -1,400.00%.

Hedge Funds Weigh In On NETSTREIT

Several hedge funds have recently made changes to their positions in NTST. Quarry LP bought a new stake in NETSTREIT during the second quarter worth approximately $45,000. Point72 DIFC Ltd acquired a new stake in shares of NETSTREIT during the 2nd quarter valued at $83,000. Hohimer Wealth Management LLC bought a new stake in shares of NETSTREIT during the 3rd quarter worth $166,000. Sanctuary Advisors LLC acquired a new position in shares of NETSTREIT in the 3rd quarter worth $169,000. Finally, Custom Index Systems LLC acquired a new stake in shares of NETSTREIT during the third quarter worth $170,000.

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.