Renaissance Technologies LLC Reduces Position in NETSTREIT Corp. (NYSE:NTST)

Renaissance Technologies LLC trimmed its position in shares of NETSTREIT Corp. (NYSE:NTST - Free Report) by 63.1% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 95,400 shares of the company's stock after selling 163,200 shares during the period. Renaissance Technologies LLC owned approximately 0.13% of NETSTREIT worth $1,536,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Parallel Advisors LLC increased its position in NETSTREIT by 702.3% in the 4th quarter. Parallel Advisors LLC now owns 3,442 shares of the company's stock valued at $61,000 after acquiring an additional 3,013 shares in the last quarter. Lighthouse Investment Partners LLC raised its stake in NETSTREIT by 10.0% in the 4th quarter. Lighthouse Investment Partners LLC now owns 385,000 shares of the company's stock valued at $6,872,000 after acquiring an additional 35,000 shares during the period. Cohen & Steers Inc. raised its holdings in NETSTREIT by 4.3% in the 4th quarter. Cohen & Steers Inc. now owns 9,344,847 shares of the company's stock valued at $166,806,000 after acquiring an additional 383,240 shares during the period. Heitman Real Estate Securities LLC lifted its holdings in shares of NETSTREIT by 4.5% during the fourth quarter. Heitman Real Estate Securities LLC now owns 2,370,476 shares of the company's stock worth $42,313,000 after buying an additional 103,006 shares in the last quarter. Finally, Teachers Retirement System of The State of Kentucky raised its position in shares of NETSTREIT by 50.9% in the fourth quarter. Teachers Retirement System of The State of Kentucky now owns 102,226 shares of the company's stock valued at $1,825,000 after buying an additional 34,469 shares in the last quarter.

Analyst Upgrades and Downgrades

Several brokerages have commented on NTST. Raymond James upgraded shares of NETSTREIT from an "outperform" rating to a "strong-buy" rating and lowered their price objective for the company from $20.00 to $19.00 in a research report on Wednesday, August 21st. Wedbush assumed coverage on shares of NETSTREIT in a research note on Monday, August 19th. They issued a "neutral" rating and a $17.00 price objective for the company. Finally, Scotiabank lowered their price objective on shares of NETSTREIT from $18.00 to $16.00 and set a "sector perform" rating on the stock in a report on Wednesday, August 7th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $17.88.

NETSTREIT Stock Performance

Shares of NYSE:NTST traded down $0.43 during mid-day trading on Friday, reaching $15.61. The company had a trading volume of 1,048,286 shares, compared to its average volume of 1,015,048. The firm has a market cap of $1.15 billion, a price-to-earnings ratio of 173.44 and a beta of 0.97. NETSTREIT Corp. has a one year low of $13.49 and a one year high of $18.97. The company has a current ratio of 4.08, a quick ratio of 4.08 and a debt-to-equity ratio of 0.55. The company's 50-day moving average price is $16.42 and its 200-day moving average price is $16.88.

NETSTREIT (NYSE:NTST - Get Free Report) last issued its quarterly earnings data on Monday, July 29th. The company reported ($0.03) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.30 by ($0.33). NETSTREIT had a return on equity of 0.39% and a net margin of 3.32%. The business had revenue of $39.57 million during the quarter, compared to analysts' expectations of $39.31 million. During the same quarter last year, the business posted $0.30 EPS. As a group, equities research analysts anticipate that NETSTREIT Corp. will post 1.19 EPS for the current fiscal year.

NETSTREIT Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Tuesday, September 3rd were issued a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 5.38%. This is a positive change from NETSTREIT's previous quarterly dividend of $0.21. The ex-dividend date was Tuesday, September 3rd. NETSTREIT's payout ratio is presently 933.33%.

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.