Raymond James Has Lowered Expectations for NETSTREIT (NYSE:NTST) Stock Price

NETSTREIT (NYSE:NTST) had its price objective dropped by research analysts at Raymond James from $19.00 to $17.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage presently has a “strong-buy” rating on the stock. Raymond James’ price target indicates a potential upside of 16.63% from the stock’s current price.

NTST has been the topic of a number of other research reports. Mizuho cut their price objective on shares of NETSTREIT from $17.00 to $15.00 and set an “outperform” rating on the stock in a research report on Wednesday, January 8th. Truist Financial decreased their price objective on NETSTREIT from $20.00 to $19.00 and set a “buy” rating for the company in a report on Thursday, December 5th. UBS Group started coverage on NETSTREIT in a research report on Monday, October 14th. They set a “buy” rating and a $19.00 target price on the stock. Scotiabank upgraded NETSTREIT from a “sector perform” rating to a “sector outperform” rating and increased their price target for the company from $16.00 to $18.00 in a research note on Monday, November 11th. Finally, Stifel Nicolaus dropped their price target on NETSTREIT from $19.50 to $19.25 and set a “buy” rating on the stock in a research note on Tuesday, November 5th. Two analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $17.75.

NETSTREIT Stock Performance

Shares of NTST stock opened at $14.58 on Friday. The firm has a market cap of $1.19 billion, a price-to-earnings ratio of -242.89 and a beta of 1.00. NETSTREIT has a 52-week low of $13.42 and a 52-week 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. The company’s 50 day moving average is $14.94 and its 200 day moving average is $15.84.

NETSTREIT (NYSE:NTST) last released its quarterly earnings results on Monday, November 4th. The company reported ($0.07) EPS 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 company had revenue of $41.44 million during the quarter, compared to the consensus estimate of $41.10 million. During the same period in the previous year, the firm posted $0.31 earnings per share. On average, sell-side analysts anticipate that NETSTREIT will post 1.19 EPS for the current fiscal year.

Institutional Trading of NETSTREIT

Institutional investors and hedge funds have recently bought and sold shares of the business. Janney Montgomery Scott LLC purchased a new position in shares of NETSTREIT during the fourth quarter worth $198,000. SG Americas Securities LLC raised its stake in shares of NETSTREIT by 12.9% during the 4th quarter. SG Americas Securities LLC now owns 37,604 shares of the company’s stock valued at $532,000 after buying an additional 4,284 shares during the last quarter. Nordea Investment Management AB acquired a new position in shares of NETSTREIT in the 4th quarter valued at about $6,714,000. JPMorgan Chase & Co. boosted its stake in shares of NETSTREIT by 173.9% in the third quarter. JPMorgan Chase & Co. now owns 569,527 shares of the company’s stock worth $9,414,000 after buying an additional 361,577 shares during the last quarter. Finally, Sanctuary Advisors LLC acquired a new stake in NETSTREIT during the third quarter worth about $169,000.

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.