Fmr LLC Trims Stake in NETSTREIT Corp. (NYSE:NTST)

FMR LLC decreased its holdings in shares of NETSTREIT Corp. (NYSE:NTST - Free Report) by 99.6% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 6,375 shares of the company's stock after selling 1,761,887 shares during the period. FMR LLC's holdings in NETSTREIT were worth $105,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the business. Quantbot Technologies LP grew its position in NETSTREIT by 90.8% during the 3rd quarter. Quantbot Technologies LP now owns 144,950 shares of the company's stock valued at $2,396,000 after purchasing an additional 68,993 shares during the last quarter. The Manufacturers Life Insurance Company grew its holdings in shares of NETSTREIT by 5.5% during the third quarter. The Manufacturers Life Insurance Company now owns 38,137 shares of the company's stock valued at $630,000 after buying an additional 2,001 shares during the last quarter. Dynamic Technology Lab Private Ltd purchased a new stake in shares of NETSTREIT during the third quarter valued at approximately $236,000. Daiwa Securities Group Inc. increased its position in shares of NETSTREIT by 12.9% during the third quarter. Daiwa Securities Group Inc. now owns 25,594 shares of the company's stock valued at $423,000 after acquiring an additional 2,915 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in NETSTREIT by 9.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,078,174 shares of the company's stock worth $17,822,000 after acquiring an additional 95,433 shares during the last quarter.

NETSTREIT Stock Performance

Shares of NYSE:NTST traded down $0.07 on Tuesday, hitting $14.11. 387,426 shares of the company were exchanged, compared to its average volume of 987,885. The firm has a market capitalization of $1.15 billion, a P/E ratio of -235.13 and a beta of 0.97. The company has a current ratio of 4.11, a quick ratio of 4.11 and a debt-to-equity ratio of 0.57. NETSTREIT Corp. has a 1-year low of $13.80 and a 1-year high of $18.97. The stock's 50 day moving average price is $15.68 and its 200 day moving average price is $16.19.

NETSTREIT (NYSE:NTST - Get Free Report) last released its quarterly earnings data on Monday, November 4th. The company reported ($0.07) earnings per share for the quarter, missing analysts' consensus estimates of $0.30 by ($0.37). The business had revenue of $41.44 million during the quarter, compared to analyst estimates of $41.10 million. NETSTREIT had a negative return on equity of 0.35% and a negative net margin of 2.96%. During the same quarter in the previous year, the company earned $0.31 EPS. Sell-side analysts predict that NETSTREIT Corp. will post 1.19 EPS for the current year.

NETSTREIT Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 13th. Stockholders of record on Monday, December 2nd were given a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 5.95%. The ex-dividend date of this dividend was Monday, December 2nd. NETSTREIT's dividend payout ratio (DPR) is presently -1,400.00%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on NTST. Truist Financial reduced their price target on shares of NETSTREIT from $20.00 to $19.00 and set a "buy" rating for the company in a research note on Thursday, December 5th. UBS Group assumed coverage on shares of NETSTREIT in a research report on Monday, October 14th. They issued a "buy" rating and a $19.00 target price for the company. Stifel Nicolaus decreased their target price on shares of NETSTREIT from $19.50 to $19.25 and set a "buy" rating for the company in a research note on Tuesday, November 5th. Finally, Scotiabank upgraded NETSTREIT from a "sector perform" rating to a "sector outperform" rating and raised their price target for the stock from $16.00 to $18.00 in a research note on Monday, November 11th. Two analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, NETSTREIT currently has an average rating of "Moderate Buy" and an average price target of $19.03.

NETSTREIT Company Profile

NETSTREIT Corp. is an internally managed real estate investment trust (REIT) based in Dallas, Texas that specializes in acquiring single-tenant net lease retail properties nationwide. The growing portfolio consists of high-quality properties leased to e-commerce resistant tenants with healthy balance sheets.