NETSTREIT (NYSE:NTST) Rating Lowered to Underperform at Bank of America

Posted by on Oct 12th, 2023

NETSTREIT (NYSE:NTST – Get Free Report) was downgraded by analysts at Bank of America from a “neutral” rating to an “underperform” rating in a note issued to investors on Tuesday, Marketbeat.com reports.

Several other analysts also recently commented on the company. BNP Paribas started coverage on NETSTREIT in a research note on Wednesday, June 14th. They issued an “outperform” rating and a $23.00 target price for the company. TheStreet raised shares of NETSTREIT from a “d+” rating to a “c” rating in a report on Monday, August 14th. Stifel Nicolaus lowered their target price on shares of NETSTREIT from $21.00 to $20.00 and set a “buy” rating on the stock in a report on Friday, September 15th. Finally, Wolfe Research cut shares of NETSTREIT from an “outperform” rating to a “peer perform” rating in a report on Wednesday, July 5th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, NETSTREIT currently has an average rating of “Hold” and an average price target of $21.17.

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NETSTREIT Stock Performance

NTST stock opened at $15.31 on Tuesday. The stock has a 50-day moving average price of $16.67 and a 200-day moving average price of $17.49. NETSTREIT has a 1-year low of $14.49 and a 1-year high of $20.64. The company has a current ratio of 3.27, a quick ratio of 3.27 and a debt-to-equity ratio of 0.40. The firm has a market cap of $1.03 billion, a PE ratio of 153.10, a price-to-earnings-growth ratio of 2.46 and a beta of 0.93.

Institutional Trading of NETSTREIT

Several institutional investors have recently added to or reduced their stakes in NTST. Envestnet Asset Management Inc. bought a new position in shares of NETSTREIT during the first quarter valued at about $277,000. Raymond James & Associates boosted its holdings in NETSTREIT by 18.0% in the first quarter. Raymond James & Associates now owns 13,693 shares of the company’s stock worth $307,000 after purchasing an additional 2,092 shares during the last quarter. MetLife Investment Management LLC boosted its holdings in NETSTREIT by 58.5% in the first quarter. MetLife Investment Management LLC now owns 23,148 shares of the company’s stock worth $519,000 after purchasing an additional 8,543 shares during the last quarter. Great West Life Assurance Co. Can boosted its holdings in NETSTREIT by 5.4% in the first quarter. Great West Life Assurance Co. Can now owns 33,856 shares of the company’s stock worth $789,000 after purchasing an additional 1,746 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings in NETSTREIT by 20.6% in the first quarter. Dimensional Fund Advisors LP now owns 190,470 shares of the company’s stock worth $4,274,000 after purchasing an additional 32,500 shares during the last quarter.

NETSTREIT Company Profile

(Get Free Report)

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.

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