NETSTREIT Corp. (NYSE:NTST) Shares Purchased by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. raised its holdings in shares of NETSTREIT Corp. (NYSE:NTST - Free Report) by 1,931.7% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,615,264 shares of the company's stock after acquiring an additional 1,535,761 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned approximately 2.09% of NETSTREIT worth $26,700,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in the business. Vanguard Group Inc. lifted its position in NETSTREIT by 8.3% in the first quarter. Vanguard Group Inc. now owns 7,352,295 shares of the company's stock valued at $135,062,000 after acquiring an additional 566,513 shares during the last quarter. Long Pond Capital LP lifted its holdings in shares of NETSTREIT by 235.2% in the 1st quarter. Long Pond Capital LP now owns 5,967,437 shares of the company's stock valued at $109,622,000 after purchasing an additional 4,187,438 shares during the last quarter. APG Asset Management US Inc. boosted its position in shares of NETSTREIT by 5.6% in the 2nd quarter. APG Asset Management US Inc. now owns 1,520,236 shares of the company's stock valued at $24,597,000 after purchasing an additional 80,553 shares during the period. Marshall Wace LLP grew its stake in NETSTREIT by 42.4% during the 2nd quarter. Marshall Wace LLP now owns 1,009,106 shares of the company's stock worth $16,247,000 after buying an additional 300,481 shares during the last quarter. Finally, Silvercrest Asset Management Group LLC increased its position in NETSTREIT by 22.2% during the first quarter. Silvercrest Asset Management Group LLC now owns 1,007,072 shares of the company's stock worth $18,500,000 after buying an additional 183,058 shares during the period.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on NTST shares. Stifel Nicolaus lowered their target price on shares of NETSTREIT from $19.50 to $19.25 and set a "buy" rating on the stock in a research report on Tuesday, November 5th. Raymond James raised shares of NETSTREIT from an "outperform" rating to a "strong-buy" rating and lowered their price objective for the stock from $20.00 to $19.00 in a research report on Wednesday, August 21st. Scotiabank raised shares of NETSTREIT from a "sector perform" rating to a "sector outperform" rating and upped their target price for the company from $16.00 to $18.00 in a report on Monday, November 11th. Wedbush began coverage on NETSTREIT in a report on Monday, August 19th. They set a "neutral" rating and a $17.00 price target on the stock. Finally, UBS Group initiated coverage on NETSTREIT in a research note on Monday, October 14th. They set a "buy" rating and a $19.00 price objective for the company. Three investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $18.30.

NETSTREIT Stock Performance

Shares of NTST stock traded down $0.01 during trading hours on Friday, reaching $15.45. 976,110 shares of the company's stock were exchanged, compared to its average volume of 1,073,718. 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 1 year low of $15.02 and a 1 year high of $18.97. The company has a market cap of $1.26 billion, a P/E ratio of -257.46 and a beta of 0.97. The company's 50 day moving average is $16.11 and its two-hundred day moving average is $16.55.

NETSTREIT (NYSE:NTST - Get Free Report) last issued its earnings results on Monday, November 4th. The company reported ($0.07) EPS for the quarter, missing the consensus estimate of $0.30 by ($0.37). The company had revenue of $41.44 million for the quarter, compared to analysts' expectations 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 firm posted $0.31 earnings per share. Equities research analysts anticipate that NETSTREIT Corp. will post 1.19 EPS for the current fiscal year.

NETSTREIT Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Monday, December 2nd will be issued a $0.21 dividend. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $0.84 dividend on an annualized basis and a yield of 5.44%. NETSTREIT's dividend payout ratio (DPR) is presently -1,399.77%.

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.