Mizuho Reiterates Outperform Rating on Netstreit Corp. (NTST)

Mizuho analyst Haendel St. Juste reiterated an Outperform rating and $17.00 price target on Netstreit Corp. (NYSE: NTST).

The analyst commented: "NTST has meaningfully lagged its Triple Net peers YTD (-5.5% vs Triple Nets' +12% / RMZ +15%), hampered by less advantageous investment spreads and a number of tenant credit concerns (Dollar Tree/Family Dollar, Walgreens, Big Lots). Looking ahead, we believe that NTST is one of the most compelling opportunities in the Triple Net subsector and can be a leading performer into YE24.

As we outline herein, NTST should benefit from widening investment spreads, a well-positioned/pre-funded growth balance sheet and our expectation for better than feared credit outcomes for existing tenant concerns in 2H24 - topics we anticipate will be front and center during our NDR with the CEO & CFO later this week."

For an analyst ratings summary and ratings history on Netstreit Corp. click here. For more ratings news on Netstreit Corp. click here.

Shares of Netstreit Corp. closed at $16.41 yesterday.

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