NETSTREIT (NYSE:NTST) Upgraded at Bank of America

Bank of America upgraded shares of NETSTREIT (NYSE:NTST) from an underperform rating to a neutral rating in a research report released on Monday morning, MarketBeat Ratings reports. The brokerage currently has $19.00 target price on the stock, up from their prior target price of $18.00.

A number of other analysts have also recently issued reports on NTST. Wells Fargo & Company started coverage on shares of NETSTREIT in a research note on Monday, April 7th. They issued an “overweight” rating and a $18.00 price objective for the company. Raymond James Financial reissued a “strong-buy” rating on shares of NETSTREIT in a research note on Friday, May 23rd. Truist Financial set a $19.00 price objective on shares of NETSTREIT in a research note on Friday, July 25th. Mizuho upped their target price on shares of NETSTREIT from $15.00 to $17.00 and gave the stock an “outperform” rating in a research report on Thursday, April 3rd. Finally, UBS Group upped their target price on shares of NETSTREIT from $18.00 to $20.00 and gave the stock a “buy” rating in a research report on Wednesday, July 16th. Two analysts have rated the stock with a hold rating, seven have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $18.53.

NETSTREIT Stock Performance

Shares of NYSE NTST opened at $18.46 on Monday. The firm has a fifty day moving average price of $16.88 and a 200-day moving average price of $15.73. The company has a debt-to-equity ratio of 0.70, a current ratio of 3.83 and a quick ratio of 3.83. The stock has a market cap of $1.54 billion, a PE ratio of -230.75, a price-to-earnings-growth ratio of 4.29 and a beta of 0.89. NETSTREIT has a 1 year low of $13.42 and a 1 year high of $18.80.

NETSTREIT Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Tuesday, September 2nd will be issued a $0.215 dividend. This represents a $0.86 annualized dividend and a dividend yield of 4.66%. The ex-dividend date of this dividend is Tuesday, September 2nd. This is a positive change from NETSTREIT’s previous quarterly dividend of $0.21. NETSTREIT’s dividend payout ratio (DPR) is -1,050.00%.

Institutional Investors Weigh In On NETSTREIT

Several institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. lifted its holdings in shares of NETSTREIT by 4.0% in the 1st quarter. Vanguard Group Inc. now owns 8,275,681 shares of the company’s stock worth $131,170,000 after acquiring an additional 315,888 shares during the last quarter. Principal Financial Group Inc. increased its stake in NETSTREIT by 61.3% in the 1st quarter. Principal Financial Group Inc. now owns 7,741,808 shares of the company’s stock worth $122,708,000 after buying an additional 2,941,600 shares during the period. T. Rowe Price Investment Management Inc. increased its stake in NETSTREIT by 5.5% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 6,834,118 shares of the company’s stock worth $96,703,000 after buying an additional 354,973 shares during the period. Cohen & Steers Inc. increased its stake in NETSTREIT by 3.0% in the 4th quarter. Cohen & Steers Inc. now owns 6,663,409 shares of the company’s stock worth $94,287,000 after buying an additional 191,846 shares during the period. Finally, Lasalle Investment Management Securities LLC increased its stake in NETSTREIT by 30.8% in the 4th quarter. Lasalle Investment Management Securities LLC now owns 3,449,229 shares of the company’s stock worth $48,807,000 after buying an additional 811,632 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.