NETSTREIT (NYSE:NTST) Reaches New 52-Week Low – Here’s What Happened

Shares of NETSTREIT Corp. (NYSE:NTST) reached a new 52-week low during trading on Monday . The stock traded as low as $13.72 and last traded at $13.75, with a volume of 695601 shares traded. The stock had previously closed at $13.99.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on NTST shares. Mizuho dropped their target price on shares of NETSTREIT from $17.00 to $15.00 and set an “outperform” rating for the company in a research report on Wednesday. UBS Group assumed coverage on NETSTREIT in a report on Monday, October 14th. They issued a “buy” rating and a $19.00 target price on the stock. Stifel Nicolaus dropped their price target on NETSTREIT from $19.50 to $19.25 and set a “buy” rating for the company in a research note on Tuesday, November 5th. Scotiabank raised NETSTREIT from a “sector perform” rating to a “sector outperform” rating and lifted their price objective for the stock from $16.00 to $18.00 in a research note on Monday, November 11th. Finally, Truist Financial lowered their target price on NETSTREIT from $20.00 to $19.00 and set a “buy” rating for the company in a research report on Thursday, December 5th. Two investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $18.04.

NETSTREIT Trading Down 0.4 %

The stock has a fifty day moving average price of $15.17 and a 200 day moving average price of $15.95. The stock has a market cap of $1.12 billion, a PE ratio of -228.30 and a beta of 1.00. The company has a debt-to-equity ratio of 0.57, a quick ratio of 4.11 and a current ratio of 4.11.

NETSTREIT (NYSE:NTST) last posted its quarterly earnings data on Monday, November 4th. The company reported ($0.07) 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 for the quarter, compared to analysts’ expectations of $41.10 million. During the same period in the previous year, the firm earned $0.31 earnings per share. Equities analysts expect that NETSTREIT Corp. will post 1.19 EPS for the current year.

NETSTREIT Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, December 13th. Investors of record on Monday, December 2nd were paid a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 6.13%. The ex-dividend date of this dividend was Monday, December 2nd. NETSTREIT’s dividend payout ratio is currently -1,400.00%.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. State Street Corp increased its holdings in NETSTREIT by 2.9% during the 3rd quarter. State Street Corp now owns 3,104,081 shares of the company’s stock worth $51,310,000 after purchasing an additional 87,669 shares during the period. Rush Island Management LP grew its position 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 worth $39,093,000 after buying an additional 359,993 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of NETSTREIT by 6.0% during the third quarter. Geode Capital Management LLC now owns 1,980,800 shares of the company’s stock valued at $32,748,000 after buying an additional 112,047 shares during the period. Sumitomo Mitsui Trust Group Inc. raised its holdings 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. Finally, APG Asset Management US Inc. lifted its stake in 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 period.

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.