NETSTREIT (NYSE:NTST) Shares Gap Up – Should You Buy?

NETSTREIT Corp. (NYSE:NTST) shares gapped up prior to trading on Tuesday . The stock had previously closed at $15.09, but opened at $16.34. NETSTREIT shares last traded at $15.72, with a volume of 203,157 shares.

Analyst Ratings Changes

Several research analysts have commented on the stock. Raymond James upgraded shares of NETSTREIT from an “outperform” rating to a “strong-buy” rating and decreased their target price for the stock from $20.00 to $19.00 in a report on Wednesday, August 21st. Wedbush assumed coverage on NETSTREIT in a report on Monday, August 19th. They issued a “neutral” rating and a $17.00 target price for the company. Stifel Nicolaus reduced their price objective on NETSTREIT from $19.50 to $19.25 and set a “buy” rating for the company in a research note on Tuesday. UBS Group began coverage on NETSTREIT in a research note on Monday, October 14th. They set a “buy” rating and a $19.00 target price on the stock. Finally, Scotiabank reduced their price target on shares of NETSTREIT from $18.00 to $16.00 and set a “sector perform” rating for the company in a research report on Wednesday, August 7th. Four analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $18.11.

NETSTREIT Stock Performance

The firm has a 50 day moving average price of $16.30 and a 200-day moving average price of $16.63. The company has a debt-to-equity ratio of 0.55, a quick ratio of 4.08 and a current ratio of 4.08. The company has a market cap of $1.23 billion, a P/E ratio of 223.71 and a beta of 0.97.

Institutional Investors Weigh In On NETSTREIT

Hedge funds and other institutional investors have recently made changes to their positions in the business. Sumitomo Mitsui Trust Group Inc. raised its stake in NETSTREIT by 1,931.7% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,615,264 shares of the company’s stock valued at $26,700,000 after purchasing an additional 1,535,761 shares during the last quarter. GSA Capital Partners LLP increased its stake in NETSTREIT by 107.8% in the third quarter. GSA Capital Partners LLP now owns 149,651 shares of the company’s stock valued at $2,474,000 after acquiring an additional 77,647 shares during the period. State of New Jersey Common Pension Fund D raised its position in NETSTREIT by 6.1% in the third quarter. State of New Jersey Common Pension Fund D now owns 115,660 shares of the company’s stock worth $1,912,000 after purchasing an additional 6,690 shares in the last quarter. Carmel Capital Partners LLC boosted its holdings in NETSTREIT by 11.6% during the third quarter. Carmel Capital Partners LLC now owns 25,006 shares of the company’s stock valued at $413,000 after purchasing an additional 2,598 shares in the last quarter. Finally, M&G PLC bought a new stake in shares of NETSTREIT in the 3rd quarter valued at approximately $173,000.

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.