State Street Corp Buys 87,669 Shares of NETSTREIT Corp. (NYSE:NTST)

State Street Corp raised its holdings in shares of NETSTREIT Corp. (NYSE:NTST - Free Report) by 2.9% in the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 3,104,081 shares of the company's stock after acquiring an additional 87,669 shares during the period. State Street Corp owned approximately 3.80% of NETSTREIT worth $51,310,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in NTST. Quarry LP bought a new position in NETSTREIT during the 2nd quarter worth approximately $45,000. Point72 DIFC Ltd acquired a new stake in NETSTREIT in the second quarter worth $83,000. Custom Index Systems LLC bought a new position in shares of NETSTREIT during the third quarter worth $170,000. M&G PLC acquired a new position in shares of NETSTREIT in the 3rd quarter valued at $173,000. Finally, Infrastructure Capital Advisors LLC bought a new stake in shares of NETSTREIT in the 3rd quarter valued at $177,000.

NETSTREIT Stock Performance

NYSE NTST traded up $0.32 during trading on Friday, reaching $14.16. 1,562,004 shares of the company's stock were exchanged, compared to its average volume of 991,257. The business has a 50 day moving average price of $15.75 and a 200-day moving average price of $16.25. The stock has a market capitalization of $1.16 billion, a P/E ratio of -235.96 and a beta of 0.97. The company has a debt-to-equity ratio of 0.57, a current ratio of 4.11 and a quick ratio of 4.11. NETSTREIT Corp. has a fifty-two week low of $13.80 and a fifty-two week high of $18.97.

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

NETSTREIT Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, December 13th. Investors of record on Monday, December 2nd were paid a $0.21 dividend. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $0.84 annualized dividend and a yield of 5.93%. NETSTREIT's dividend payout ratio (DPR) is presently -1,400.00%.

Analysts Set New Price Targets

A number of analysts recently issued reports on NTST shares. UBS Group initiated coverage on NETSTREIT in a research note on Monday, October 14th. They set a "buy" rating and a $19.00 target price for the company. Stifel Nicolaus lowered their price objective on shares of NETSTREIT from $19.50 to $19.25 and set a "buy" rating for the company in a research report on Tuesday, November 5th. Scotiabank raised shares of NETSTREIT from a "sector perform" rating to a "sector outperform" rating and boosted their price objective for the company from $16.00 to $18.00 in a research report on Monday, November 11th. Finally, Truist Financial reduced their target price 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. Two equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $19.03.

About NETSTREIT

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.