NETSTREIT (NYSE:NTST) Sees Large Volume Increase – Still a Buy?

Shares of NETSTREIT Corp. (NYSE:NTST) saw unusually-high trading volume on Thursday . Approximately 1,632,095 shares were traded during trading, an increase of 119% from the previous session’s volume of 745,650 shares.The stock last traded at $14.55 and had previously closed at $14.22.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. UBS Group started coverage on shares of NETSTREIT in a report on Monday, October 14th. They set a “buy” rating and a $19.00 price objective for the company. Truist Financial decreased their target price on shares of NETSTREIT from $20.00 to $19.00 and set a “buy” rating for the company in a research note on Thursday, December 5th. Mizuho dropped their price target on NETSTREIT from $17.00 to $15.00 and set an “outperform” rating on the stock in a research note on Wednesday, January 8th. Scotiabank upgraded NETSTREIT from a “sector perform” rating to a “sector outperform” rating and upped their price objective for the company from $16.00 to $18.00 in a research report on Monday, November 11th. Finally, Raymond James dropped their target price on NETSTREIT from $19.00 to $17.00 and set a “strong-buy” rating on the stock in a research report on Friday, January 17th. Two research analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $17.75.

NETSTREIT Stock Performance

The firm has a market capitalization of $1.19 billion, a PE ratio of -243.38 and a beta of 1.00. The company has a debt-to-equity ratio of 0.57, a quick ratio of 4.11 and a current ratio of 4.11. The business’s fifty day simple moving average is $14.73 and its 200-day simple moving average is $15.74.

NETSTREIT (NYSE:NTST) last announced its quarterly earnings results 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 during the quarter, compared to the consensus estimate of $41.10 million. During the same quarter in the prior year, the firm posted $0.31 EPS. As a group, equities research analysts expect that NETSTREIT Corp. will post 1.19 EPS for the current 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 issued 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 yield of 5.75%. NETSTREIT’s payout ratio is -1,400.00%.

Institutional Trading of NETSTREIT

Large investors have recently modified their holdings of the company. Quarry LP purchased a new position in NETSTREIT during the 2nd quarter valued at about $45,000. Point72 DIFC Ltd purchased a new stake in NETSTREIT during the second quarter worth $83,000. Hohimer Wealth Management LLC bought a new stake in NETSTREIT during the 3rd quarter valued at $166,000. Sanctuary Advisors LLC bought a new stake in shares of NETSTREIT in the 3rd quarter valued at about $169,000. Finally, Custom Index Systems LLC acquired a new stake in NETSTREIT in the third quarter valued at approximately $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.