Verition Fund Management LLC raised its stake in NETSTREIT Corp. (NYSE:NTST - Free Report) by 27.4% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 749,616 shares of the company's stock after acquiring an additional 161,237 shares during the quarter. Verition Fund Management LLC owned approximately 0.92% of NETSTREIT worth $12,391,000 as of its most recent SEC filing.
Other hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. lifted its stake in NETSTREIT by 8.3% in the 1st quarter. Vanguard Group Inc. now owns 7,352,295 shares of the company's stock valued at $135,062,000 after purchasing an additional 566,513 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its stake in shares of NETSTREIT by 13.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 19,780 shares of the company's stock valued at $364,000 after acquiring an additional 2,391 shares during the last quarter. Teachers Retirement System of The State of Kentucky boosted its holdings in shares of NETSTREIT by 32.0% during the 1st quarter. Teachers Retirement System of The State of Kentucky now owns 134,914 shares of the company's stock valued at $2,478,000 after acquiring an additional 32,688 shares in the last quarter. DekaBank Deutsche Girozentrale grew its position in NETSTREIT by 343.3% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 75,155 shares of the company's stock worth $1,331,000 after acquiring an additional 58,201 shares during the last quarter. Finally, SG Americas Securities LLC acquired a new position in NETSTREIT in the 2nd quarter worth about $316,000.
Analysts Set New Price Targets
Several analysts have recently weighed in on NTST shares. Raymond James upgraded NETSTREIT from an "outperform" rating to a "strong-buy" rating and reduced their price target for the stock from $20.00 to $19.00 in a report on Wednesday, August 21st. UBS Group initiated coverage on shares of NETSTREIT in a research note on Monday, October 14th. They issued a "buy" rating and a $19.00 price objective on the stock. Scotiabank raised shares of NETSTREIT from a "sector perform" rating to a "sector outperform" rating and lifted their target price for the stock from $16.00 to $18.00 in a research note on Monday, November 11th. Stifel Nicolaus dropped their target price on shares of NETSTREIT from $19.50 to $19.25 and set a "buy" rating on the stock in a report on Tuesday, November 5th. Finally, Wedbush assumed coverage on NETSTREIT in a report on Monday, August 19th. They set a "neutral" rating and a $17.00 price target for the company. Three equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $18.25.
Check Out Our Latest Analysis on NTST
NETSTREIT Stock Down 0.7 %
Shares of NTST traded down $0.11 during trading hours on Friday, reaching $16.21. The stock had a trading volume of 804,585 shares, compared to its average volume of 948,197. The firm has a 50-day simple moving average of $15.98 and a 200 day simple moving average of $16.45. NETSTREIT Corp. has a 12 month low of $15.02 and a 12 month high of $18.97. The company has a current ratio of 4.11, a quick ratio of 4.11 and a debt-to-equity ratio of 0.57. The company has a market capitalization of $1.32 billion, a price-to-earnings ratio of -270.17 and a beta of 0.97.
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 the consensus estimate of $41.10 million. NETSTREIT had a negative net margin of 2.96% and a negative return on equity of 0.35%. During the same period last year, the business posted $0.31 earnings per share. Equities research analysts predict that NETSTREIT Corp. will post 1.19 earnings per share for the current fiscal year.
NETSTREIT Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Monday, December 2nd will be paid a dividend of $0.21 per share. The ex-dividend date is Monday, December 2nd. This represents a $0.84 dividend on an annualized basis and a yield of 5.18%. NETSTREIT's dividend payout ratio (DPR) is currently -1,400.00%.
About NETSTREIT
(
Free Report)
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.
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