Short Interest in NETSTREIT Corp. (NYSE:NTST) Drops By 42.9%

NETSTREIT Corp. (NYSE:NTST - Get Free Report) was the recipient of a significant decrease in short interest in the month of September. As of September 30th, there was short interest totalling 5,660,000 shares, a decrease of 42.9% from the September 15th total of 9,920,000 shares. Based on an average daily trading volume, of 1,120,000 shares, the days-to-cover ratio is currently 5.1 days.

Institutional Investors Weigh In On NETSTREIT

Large investors have recently made changes to their positions in the stock. Quarry LP acquired a new position in NETSTREIT in the 2nd quarter worth approximately $45,000. Point72 DIFC Ltd acquired a new stake in shares of NETSTREIT in the second quarter worth $83,000. Van ECK Associates Corp raised its holdings in shares of NETSTREIT by 13.7% during the second quarter. Van ECK Associates Corp now owns 11,280 shares of the company's stock worth $182,000 after purchasing an additional 1,359 shares during the last quarter. Quest Partners LLC acquired a new position in NETSTREIT during the second quarter valued at $202,000. Finally, ProShare Advisors LLC boosted its holdings in NETSTREIT by 8.5% in the first quarter. ProShare Advisors LLC now owns 12,434 shares of the company's stock valued at $228,000 after purchasing an additional 977 shares during the last quarter.

NETSTREIT Stock Up 1.7 %

NETSTREIT stock traded up $0.26 during trading hours on Friday, reaching $15.70. The stock had a trading volume of 539,640 shares, compared to its average volume of 1,005,306. The company has a market cap of $1.21 billion, a price-to-earnings ratio of 222.00 and a beta of 0.96. The business's 50 day moving average price is $16.33 and its 200-day moving average price is $16.82. NETSTREIT has a 52 week low of $13.49 and a 52 week high of $18.97. The company has a debt-to-equity ratio of 0.55, a current ratio of 4.08 and a quick ratio of 4.08.

NETSTREIT (NYSE:NTST - Get Free Report) last announced its earnings results on Monday, July 29th. The company reported ($0.03) earnings per share for the quarter, missing the consensus estimate of $0.30 by ($0.33). The business had revenue of $39.57 million for the quarter, compared to analysts' expectations of $39.31 million. NETSTREIT had a return on equity of 0.39% and a net margin of 3.32%. During the same quarter last year, the firm earned $0.30 earnings per share. Sell-side analysts anticipate that NETSTREIT will post 1.19 EPS for the current year.

NETSTREIT Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Tuesday, September 3rd were paid a dividend of $0.21 per share. This is a positive change from NETSTREIT's previous quarterly dividend of $0.21. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $0.84 dividend on an annualized basis and a yield of 5.35%. NETSTREIT's dividend payout ratio is presently 1,200.00%.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Scotiabank dropped their target price on shares of NETSTREIT from $18.00 to $16.00 and set a "sector perform" rating on the stock in a research note on Wednesday, August 7th. Raymond James upgraded NETSTREIT from an "outperform" rating to a "strong-buy" rating and reduced their price objective for the stock from $20.00 to $19.00 in a report on Wednesday, August 21st. Finally, Wedbush assumed coverage on NETSTREIT in a research report on Monday, August 19th. They set a "neutral" rating and a $17.00 target price for the company. Four 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 stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $17.88.

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.