Asset Management One Co. Ltd. trimmed its position in NETSTREIT Corp. (NYSE:NTST - Free Report) by 31.0% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 111,080 shares of the company's stock after selling 49,885 shares during the period. Asset Management One Co. Ltd. owned approximately 0.14% of NETSTREIT worth $1,836,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings in shares of 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 buying an additional 566,513 shares during the period. Long Pond Capital LP lifted its holdings in 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 acquiring an additional 4,187,438 shares during the last quarter. Russell Investments Group Ltd. lifted its holdings in NETSTREIT by 64.9% in the 1st quarter. Russell Investments Group Ltd. now owns 1,593,752 shares of the company's stock valued at $29,277,000 after acquiring an additional 627,514 shares during the last quarter. APG Asset Management US Inc. boosted its position in shares of NETSTREIT by 5.6% during 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 in the last quarter. Finally, Marshall Wace LLP grew its stake in shares of NETSTREIT by 42.4% in the 2nd quarter. Marshall Wace LLP now owns 1,009,106 shares of the company's stock worth $16,247,000 after purchasing an additional 300,481 shares during the last quarter.
NETSTREIT Price Performance
Shares of NTST stock traded up $0.28 on Friday, reaching $16.14. 1,152,723 shares of the company's stock traded hands, compared to its average volume of 1,068,893. The business's 50 day moving average price is $16.23 and its two-hundred day moving average price is $16.60. The company has a debt-to-equity ratio of 0.57, a quick ratio of 4.08 and a current ratio of 4.11. NETSTREIT Corp. has a 12-month low of $14.92 and a 12-month high of $18.97.
NETSTREIT (NYSE:NTST - Get Free Report) last released its earnings results on Monday, November 4th. The company reported ($0.07) earnings per share for the quarter, missing the consensus estimate of $0.30 by ($0.37). The business had revenue of $41.44 million for the quarter, compared to analysts' expectations 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 firm earned $0.31 EPS. Research analysts forecast that NETSTREIT Corp. will post 1.19 EPS for the current 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 paid a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 5.20%. The ex-dividend date is Monday, December 2nd. NETSTREIT's dividend payout ratio (DPR) is currently -1,399.77%.
Analysts Set New Price Targets
Several analysts recently commented on the stock. UBS Group started coverage on shares of NETSTREIT in a research note on Monday, October 14th. They set a "buy" rating and a $19.00 target price for the company. Raymond James upgraded NETSTREIT from an "outperform" rating to a "strong-buy" rating and cut their price objective for the company from $20.00 to $19.00 in a research report on Wednesday, August 21st. Wedbush started coverage on NETSTREIT in a report on Monday, August 19th. They issued a "neutral" rating and a $17.00 target price on the stock. Scotiabank cut their target price on NETSTREIT from $18.00 to $16.00 and set a "sector perform" rating on the stock in a research report on Wednesday, August 7th. Finally, Stifel Nicolaus decreased their price target on NETSTREIT from $19.50 to $19.25 and set a "buy" rating for the company in a research report on Tuesday, November 5th. Four investment analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $18.11.
Get Our Latest Report on NTST
NETSTREIT Company Profile
(
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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