Jefferies sets a $23 target on NTST, citing execution on investment pipelines and discounted REIT valuations as catalysts.
Jefferies initiated coverage of NETSTREIT Corp. (NYSE:NTST) with a Buy rating and a $23 price target, highlighting the firm’s potential to re-rate to historical valuation multiples. The brokerage noted that net lease REITs trade at the third-highest discount to their 10-year average in the sector, despite intact fundamentals.
Truist recently raised its price target on NTST to $22 from $21, maintaining a Buy rating and citing higher acquisition volume assumptions. NETSTREIT specializes in single-tenant net lease retail properties, focusing on portfolio diversification and stable cash flows.
The net lease group’s valuation discount places it alongside sectors facing secular challenges, though Jefferies emphasized execution on investment pipelines as a key driver for upside.