Scotiabank Upgrades NETSTREIT Outlook: What Investors Should Know
Analysts Predict 16.47% Price Increase
On November 11, 2024, Scotiabank upgraded NETSTREIT (NYSE:NTST) from Sector Perform to Sector Outperform.
As of October 22, 2024, analysts set an average one-year price target of $18.75 per share for NETSTREIT. This reflects potential growth, with predictions ranging from a low of $16.16 to a high of $23.10. The target suggests a 16.47% increase from the latest closing price of $16.10 per share.
Annual Revenue Projections and Earnings Insights
NETSTREIT’s projected annual revenue stands at $147 million, indicating a decline of 5.26%. Meanwhile, the projected annual non-GAAP earnings per share (EPS) is estimated at $0.18.
Institutional Interest in NETSTREIT
Currently, 406 funds or institutions hold positions in NETSTREIT, increased by 17 owners or 4.37% in just the last quarter. The average fund allocation for NTST has grown to 0.18%, a rise of 17.86%, with total institutional shares up by 7.09% to 115,388,000 shares. However, the current put/call ratio of 1.95 shows a bearish sentiment among investors.
Cohen & Steers owns 9,231,000 shares, amounting to 11.31% of NETSTREIT; however, this is a 2.89% decrease from their previous holding of 9,498,000 shares. Their portfolio allocation in NTST has decreased by 14.69% over the last quarter.
T. Rowe Price Investment Management increased its holdings to 5,437,000 shares, representing 6.66% ownership, a rise of 6.44% compared to their former holding of 5,087,000 shares, though their allocation decreased by 3.37% over the last quarter.
Long Pond Capital reduced its stake to 4,982,000 shares (6.11% ownership), down 19.78% from 5,967,000 shares. They also decreased their portfolio allocation in NTST by 31.70% over the last quarter.
Deutsche Bank AG increased its holdings from 2,998,000 shares to 4,818,000 shares, a significant rise of 37.77%. Nonetheless, they reduced their portfolio allocation by 71.59% recently.
CSEIX – Cohen & Steers Real Estate Securities Fund remains stable with 4,064,000 shares, representing 4.98% ownership, with no change this quarter.
Understanding NETSTREIT
(This description is provided by the company.)
NETSTREIT is a Real Estate Investment Trust (REIT) located in Dallas, Texas, focusing on the acquisition of single-tenant net lease retail properties across the United States. The firm maintains a portfolio of high-quality properties leased to tenants resilient to e-commerce challenges, all supported by robust financial health. With a management team skilled in commercial real estate, NETSTREIT strives to build a leading net lease retail portfolio, generating reliable cash flows and dividends for its investors.
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This story originally appeared on Fintel.
The views and opinions expressed herein are those of the author and do not necessarily reflect the views of Nasdaq, Inc.
