NETSTREIT (NYSE:NTST) Price Target Cut to $17.00 by Analysts at Raymond James

NETSTREIT (NYSE:NTST) had its price objective cut by Raymond James from $19.00 to $17.00 in a report released on Friday,Benzinga reports. The firm currently has a “strong-buy” rating on the stock. Raymond James’ target price would indicate a potential upside of 16.20% from the company’s previous close.

Several other analysts have also issued reports on NTST. Scotiabank upgraded shares of NETSTREIT from a “sector perform” rating to a “sector outperform” rating and increased their price target for the stock from $16.00 to $18.00 in a research report on Monday, November 11th. Truist Financial dropped their price objective on NETSTREIT from $20.00 to $19.00 and set a “buy” rating for the company in a research report on Thursday, December 5th. UBS Group initiated coverage on shares of NETSTREIT in a research report on Monday, October 14th. They set a “buy” rating and a $19.00 price objective for the company. Stifel Nicolaus dropped their price objective on shares of NETSTREIT from $19.50 to $19.25 and set a “buy” rating for the company in a report on Tuesday, November 5th. Finally, Mizuho reduced their target price on shares of NETSTREIT from $17.00 to $15.00 and set an “outperform” rating on the stock in a report on Wednesday, January 8th. Two 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 stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $17.75.

NETSTREIT Stock Performance

NTST traded up $0.16 on Friday, reaching $14.63. The company had a trading volume of 248,372 shares, compared to its average volume of 640,149. The stock has a market cap of $1.19 billion, a P/E ratio of -243.84 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. NETSTREIT has a fifty-two week low of $13.42 and a fifty-two week high of $18.97. The company’s fifty day moving average is $14.97 and its 200 day moving average is $15.85.

NETSTREIT (NYSE:NTST) last posted 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 firm had revenue of $41.44 million for the quarter, compared to the consensus estimate of $41.10 million. During the same quarter in the previous year, the business earned $0.31 EPS. As a group, analysts predict that NETSTREIT will post 1.19 earnings per share for the current fiscal year.

Institutional Investors Weigh In On NETSTREIT

Large investors have recently made changes to their positions in the business. Sumitomo Mitsui Trust Group Inc. grew its position in NETSTREIT by 1,931.7% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,615,264 shares of the company’s stock valued at $26,700,000 after buying an additional 1,535,761 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of NETSTREIT by 765.7% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 635,707 shares of the company’s stock worth $10,508,000 after purchasing an additional 562,273 shares during the last quarter. Nordea Investment Management AB purchased a new stake in shares of NETSTREIT during the 4th quarter worth approximately $6,714,000. JPMorgan Chase & Co. raised its holdings in shares of NETSTREIT by 173.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 569,527 shares of the company’s stock worth $9,414,000 after purchasing an additional 361,577 shares during the period. Finally, Rush Island Management LP grew its holdings in NETSTREIT by 18.0% during the third quarter. Rush Island Management LP now owns 2,364,964 shares of the company’s stock valued at $39,093,000 after purchasing an additional 359,993 shares during the period.

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.