In a report released today, Ki Bin Kim from Truist Financial maintained a Buy rating on NETSTREIT, with a price target of $18.00.
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Ki Bin Kim has given his Buy rating due to a combination of factors that highlight NETSTREIT’s strong performance and strategic acquisitions. The company has demonstrated higher net investment activity than anticipated, which has contributed to a slight beat in earnings and an optimistic outlook for future performance. This increased activity is supported by favorable outcomes for key tenants such as Walgreens and Family Dollar, which have helped the stock recover this year.
Additionally, NETSTREIT’s acquisition strategy has been effective, with recent purchases yielding a 7.8% cash yield, surpassing previous estimates. The company’s balance sheet remains strong with a proforma leverage of 4.6x, indicating financial stability. These factors, coupled with the potential for a more favorable cost of equity, suggest that NETSTREIT is well-positioned to continue its growth trajectory, justifying the Buy rating.
In another report released on July 16, UBS also maintained a Buy rating on the stock with a $20.00 price target.