Vestcor Inc Takes $913,000 Position in NETSTREIT Corp. (NYSE:NTST)

Vestcor Inc bought a new stake in shares of NETSTREIT Corp. (NYSE:NTST - Free Report) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 55,217 shares of the company's stock, valued at approximately $913,000. Vestcor Inc owned 0.07% of NETSTREIT as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. State Street Corp increased its position in shares of NETSTREIT by 2.9% during the 3rd quarter. State Street Corp now owns 3,104,081 shares of the company's stock valued at $51,310,000 after purchasing an additional 87,669 shares during the last quarter. Rush Island Management LP increased its holdings in NETSTREIT by 18.0% during the third quarter. Rush Island Management LP now owns 2,364,964 shares of the company's stock valued at $39,093,000 after buying an additional 359,993 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. raised its position in NETSTREIT by 1,931.7% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,615,264 shares of the company's stock worth $26,700,000 after acquiring an additional 1,535,761 shares during the period. APG Asset Management US Inc. boosted its stake 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 worth $24,597,000 after acquiring an additional 80,553 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in shares of NETSTREIT by 9.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,078,174 shares of the company's stock valued at $17,822,000 after acquiring an additional 95,433 shares during the period.

Analyst Ratings Changes

NTST has been the subject of a number of analyst reports. Stifel Nicolaus reduced their price objective on shares of NETSTREIT from $19.50 to $19.25 and set a "buy" rating for the company in a research note on Tuesday, November 5th. Raymond James upgraded 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. UBS Group assumed coverage on NETSTREIT in a research report on Monday, October 14th. They set a "buy" rating and a $19.00 target price for the company. Wedbush initiated coverage on NETSTREIT in a report on Monday, August 19th. They issued a "neutral" rating and a $17.00 price target on the stock. Finally, Truist Financial cut their price objective on shares of NETSTREIT from $20.00 to $19.00 and set a "buy" rating for the company in a report on Thursday, December 5th. Three investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, NETSTREIT has a consensus rating of "Moderate Buy" and a consensus target price of $18.33.

NETSTREIT Stock Up 0.2 %

Shares of NTST traded up $0.03 during midday trading on Friday, reaching $15.01. 446,062 shares of the stock were exchanged, compared to its average volume of 990,462. The company has a market capitalization of $1.22 billion, a P/E ratio of -249.50 and a beta of 0.97. The company has a current ratio of 4.11, a quick ratio of 4.11 and a debt-to-equity ratio of 0.57. NETSTREIT Corp. has a 52 week low of $14.83 and a 52 week high of $18.97. The company's 50 day moving average is $15.84 and its two-hundred day moving average is $16.34.

NETSTREIT (NYSE:NTST - Get Free Report) last issued its quarterly earnings data on Monday, November 4th. The company reported ($0.07) earnings per share (EPS) 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 in the previous year, the business earned $0.31 earnings per share. On average, sell-side analysts anticipate that NETSTREIT Corp. will post 1.19 earnings per share for the current year.

NETSTREIT Announces Dividend

The company also recently declared 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. This represents a $0.84 annualized dividend and a yield of 5.60%. The ex-dividend date is Monday, December 2nd. NETSTREIT's dividend payout ratio is currently -1,400.00%.

NETSTREIT 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.