NETSTREIT Corp. (NYSE:NTST) Shares Sold by MQS Management LLC

MQS Management LLC reduced its holdings in NETSTREIT Corp. (NYSE:NTST) by 13.9% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 18,031 shares of the company’s stock after selling 2,909 shares during the period. MQS Management LLC’s holdings in NETSTREIT were worth $298,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Vanguard Group Inc. grew its stake in NETSTREIT by 8.3% in the 1st quarter. Vanguard Group Inc. now owns 7,352,295 shares of the company’s stock valued at $135,062,000 after acquiring an additional 566,513 shares during the period. Long Pond Capital LP lifted its stake 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 buying an additional 4,187,438 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. lifted its position in shares of 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 valued at $26,700,000 after acquiring an additional 1,535,761 shares in the last quarter. APG Asset Management US Inc. boosted its stake in shares of NETSTREIT by 5.6% in the second 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, Marshall Wace LLP increased its position in shares of NETSTREIT by 42.4% during the second 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 in the last quarter.

NETSTREIT Stock Performance

Shares of NETSTREIT stock opened at $15.46 on Friday. The business’s fifty day simple moving average is $16.17 and its 200-day simple moving average is $16.57. The company has a quick ratio of 4.11, a current ratio of 4.11 and a debt-to-equity ratio of 0.57. The firm has a market cap of $1.26 billion, a PE ratio of -257.67 and a beta of 0.97. NETSTREIT Corp. has a 52 week low of $15.02 and a 52 week high of $18.97.

NETSTREIT (NYSE:NTST) last announced 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 company had revenue of $41.44 million for the quarter, compared to analysts’ expectations of $41.10 million. NETSTREIT had a negative return on equity of 0.35% and a negative net margin of 2.96%. During the same period last year, the business earned $0.31 EPS. Equities analysts forecast 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 paid a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 5.43%. The ex-dividend date is Monday, December 2nd. NETSTREIT’s dividend payout ratio (DPR) is -1,400.00%.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on NTST. Raymond James upgraded NETSTREIT from an “outperform” rating to a “strong-buy” rating and decreased their price objective for the company from $20.00 to $19.00 in a report on Wednesday, August 21st. UBS Group started coverage on shares of NETSTREIT in a research report on Monday, October 14th. They set a “buy” rating and a $19.00 price target on the stock. Wedbush initiated coverage on shares of NETSTREIT in a report on Monday, August 19th. They issued a “neutral” rating and a $17.00 price objective for the company. Stifel Nicolaus lowered their target price on NETSTREIT from $19.50 to $19.25 and set a “buy” rating on the stock in a report on Tuesday, November 5th. Finally, Scotiabank raised NETSTREIT from a “sector perform” rating to a “sector outperform” rating and increased their price target for the company from $16.00 to $18.00 in a report on Monday. Three equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, NETSTREIT presently has an average rating of “Moderate Buy” and an average target price of $18.30.

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.