Scotiabank Cuts NETSTREIT (NYSE:NTST) Price Target to $20.00

NETSTREIT (NYSE:NTST) had its target price cut by Scotiabank from $22.00 to $20.00 in a report published on Thursday morning, MarketBeat reports. They currently have a sector outperform rating on the stock.

A number of other brokerages have also weighed in on NTST. Cantor Fitzgerald raised their target price on NETSTREIT from $24.00 to $25.00 and gave the company an “overweight” rating in a research note on Tuesday, July 28th. Robert W. Baird upped their price target on shares of NETSTREIT from $22.00 to $23.00 and gave the stock an “outperform” rating in a research report on Thursday, July 23rd. Stifel Nicolaus upped their price target on shares of NETSTREIT from $22.25 to $23.50 and gave the stock a “buy” rating in a research report on Thursday, July 23rd. BMO Capital Markets increased their price objective on shares of NETSTREIT from $24.00 to $25.00 and gave the stock an “outperform” rating in a report on Monday, July 20th. Finally, Mizuho lowered their price objective on shares of NETSTREIT from $23.00 to $20.00 and set an “outperform” rating for the company in a research report on Thursday, September 17th. Thirteen research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $22.81.

NETSTREIT Stock Performance

NYSE:NTST opened at $18.26 on Thursday. The stock has a market capitalization of $1.85 billion, a P/E ratio of 121.74, a price-to-earnings-growth ratio of 2.36 and a beta of 0.80. The company has a current ratio of 3.55, a quick ratio of 3.54 and a debt-to-equity ratio of 0.88. NETSTREIT has a 1 year low of $17.02 and a 1 year high of $22.47. The firm has a 50 day moving average of $20.34 and a 200-day moving average of $20.33.

NETSTREIT (NYSE:NTST) last released its quarterly earnings results on Wednesday, July 22nd. The company reported $0.06 EPS for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.02). The business had revenue of $61.28 million for the quarter, compared to the consensus estimate of $56.41 million. NETSTREIT had a return on equity of 0.95% and a net margin of 6.35%.NETSTREIT has set its FY 2026 guidance at 1.370-1.390 EPS. As a group, sell-side analysts anticipate that NETSTREIT will post 1.3 EPS for the current fiscal year.

NETSTREIT Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 15th. Shareholders of record on Tuesday, September 1st were given a dividend of $0.2250 per share. This represents a $0.90 dividend on an annualized basis and a yield of 4.9%. The ex-dividend date was Tuesday, September 1st. This is a drop from NETSTREIT’s previous quarterly dividend of $0.88. NETSTREIT’s dividend payout ratio is currently 600.00%.

Hedge Funds Weigh In On NETSTREIT

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. BlackRock Inc. bought a new position in shares of NETSTREIT in the 2nd quarter worth $404,780,000. Principal Financial Group Inc. increased its stake in shares of NETSTREIT by 3.4% in the 1st quarter. Principal Financial Group Inc. now owns 9,535,801 shares of the company’s stock valued at $179,560,000 after acquiring an additional 309,453 shares during the last quarter. Centersquare Investment Management LLC raised its position in shares of NETSTREIT by 3.4% in the 4th quarter. Centersquare Investment Management LLC now owns 3,653,585 shares of the company’s stock valued at $64,449,000 after acquiring an additional 120,170 shares during the period. Bank of America Corp DE raised its position in shares of NETSTREIT by 12.2% in the 1st quarter. Bank of America Corp DE now owns 3,433,461 shares of the company’s stock valued at $64,652,000 after acquiring an additional 372,337 shares during the period. Finally, Deutsche Bank AG bought a new stake in NETSTREIT in the second quarter valued at approximately $44,589,000.

About NETSTREIT

NETSTREIT Corp. is a real estate investment trust (REIT) focused on owning and managing healthcare real estate in the United States. The company primarily invests in outpatient medical office properties that support essential healthcare services, including clinics, physician practices, specialty care facilities and other medical providers.

NETSTREIT generally leases its properties to healthcare systems, physician groups and other medical operators under long-term, net lease arrangements.