Netstreit upgraded to Neutral at BofA after equity raise

As previously reported, BofA upgraded Netstreit (NTST) to Neutral from Underperform with a price target of $19, up from $18, following “strong” results and the company’s equity raise. After the fundraising, the company now has a sufficient investment spread between quality acquisitions and its weighted average cost of capital to ramp up external growth, the analyst tells investors. Q3 is expected to be another elevated disposition quarter as Netstreit continues to curate its portfolio, while after that the firm expects the forward equity raise to be the primary use of funds and expects AFFO growth to accelerate into 2026, the analyst tells investors.