NETSTREIT Corp. (NYSE:NTST) Shares Sold by Wellington Management Group LLP

Wellington Management Group LLP lessened its position in shares of NETSTREIT Corp. (NYSE:NTST - Free Report) by 62.0% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,309,462 shares of the company's stock after selling 2,135,344 shares during the quarter. Wellington Management Group LLP owned 1.61% of NETSTREIT worth $21,645,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. State Street Corp increased its stake in shares of NETSTREIT by 2.9% in the third quarter. State Street Corp now owns 3,104,081 shares of the company's stock worth $51,310,000 after acquiring an additional 87,669 shares during the period. Stifel Financial Corp purchased a new stake in NETSTREIT in the third quarter valued at $480,000. QSV Equity Investors LLC grew its position in NETSTREIT by 1.6% during the 3rd quarter. QSV Equity Investors LLC now owns 77,533 shares of the company's stock worth $1,282,000 after purchasing an additional 1,214 shares during the period. Rush Island Management LP raised its stake in shares of NETSTREIT by 18.0% during the 3rd 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. Finally, Janus Henderson Group PLC lifted its holdings in shares of NETSTREIT by 56.5% in the 3rd quarter. Janus Henderson Group PLC now owns 43,800 shares of the company's stock valued at $724,000 after buying an additional 15,821 shares during the period.

Analyst Ratings Changes

Several research analysts recently weighed in on NTST shares. Wedbush began coverage on NETSTREIT in a research report on Monday, August 19th. They set a "neutral" rating and a $17.00 price target for the company. Raymond James raised shares of NETSTREIT from an "outperform" rating to a "strong-buy" rating and cut their target price for the company from $20.00 to $19.00 in a report on Wednesday, August 21st. UBS Group assumed coverage on shares of NETSTREIT in a report on Monday, October 14th. They set a "buy" rating and a $19.00 price target on the stock. Stifel Nicolaus cut their price objective on shares of NETSTREIT from $19.50 to $19.25 and set a "buy" rating for the company in a report on Tuesday, November 5th. Finally, Scotiabank raised shares of NETSTREIT from a "sector perform" rating to a "sector outperform" rating and increased their target price for the stock from $16.00 to $18.00 in a research note on Monday, November 11th. Two investment analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $19.03.

NETSTREIT Price Performance

Shares of NYSE NTST traded up $0.02 during trading on Friday, hitting $15.00. The company had a trading volume of 446,062 shares, compared to its average volume of 990,462. The firm has a market capitalization of $1.22 billion, a price-to-earnings ratio of -250.08 and a beta of 0.97. The stock has a fifty day simple moving average of $15.83 and a two-hundred day simple moving average of $16.32. The company has a quick ratio of 4.11, a current ratio of 4.11 and a debt-to-equity ratio of 0.57. NETSTREIT Corp. has a fifty-two week low of $14.83 and a fifty-two week high of $18.97.

NETSTREIT (NYSE:NTST - Get Free Report) last posted 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). NETSTREIT had a negative return on equity of 0.35% and a negative net margin of 2.96%. The firm had revenue of $41.44 million during the quarter, compared to analyst estimates of $41.10 million. During the same quarter in the previous year, the firm posted $0.31 earnings per share. On average, research analysts expect that NETSTREIT Corp. will post 1.19 earnings per share for the current year.

NETSTREIT Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 13th. Shareholders of record on Monday, December 2nd were issued a $0.21 dividend. The ex-dividend date was Monday, December 2nd. This represents a $0.84 dividend on an annualized basis and a yield of 5.60%. NETSTREIT's payout ratio is currently -1,400.00%.

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.