Van ECK Associates Corp Boosts Stock Position in NETSTREIT Corp. (NYSE:NTST)

Van ECK Associates Corp boosted its stake in shares of NETSTREIT Corp. (NYSE:NTST) by 13.7% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,280 shares of the company’s stock after buying an additional 1,359 shares during the period. Van ECK Associates Corp’s holdings in NETSTREIT were worth $182,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Parallel Advisors LLC increased its holdings in shares of NETSTREIT by 702.3% during the fourth 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. Quadrant Capital Group LLC increased its stake in NETSTREIT by 204.9% during the 4th quarter. Quadrant Capital Group LLC now owns 8,361 shares of the company’s stock valued at $149,000 after purchasing an additional 5,619 shares in the last quarter. ProShare Advisors LLC increased its stake in NETSTREIT by 8.5% during the 1st quarter. ProShare Advisors LLC now owns 12,434 shares of the company’s stock valued at $228,000 after purchasing an additional 977 shares in the last quarter. SG Americas Securities LLC bought a new stake in NETSTREIT during the 2nd quarter valued at about $316,000. Finally, Susquehanna Fundamental Investments LLC bought a new position in shares of NETSTREIT in the first quarter worth approximately $334,000.

NETSTREIT Stock Performance

NETSTREIT stock opened at $16.87 on Tuesday. The business has a 50-day simple moving average of $16.46 and a two-hundred day simple moving average of $16.95. NETSTREIT Corp. has a 52-week low of $13.49 and a 52-week high of $18.97. The company has a quick ratio of 4.08, a current ratio of 4.08 and a debt-to-equity ratio of 0.55. The company has a market cap of $1.24 billion, a P/E ratio of 187.44 and a beta of 0.97.

NETSTREIT (NYSE:NTST) last announced its earnings results on Monday, July 29th. The company reported ($0.03) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.30 by ($0.33). NETSTREIT had a net margin of 3.32% and a return on equity of 0.39%. The business had revenue of $39.57 million for the quarter, compared to the consensus estimate of $39.31 million. During the same quarter last year, the firm posted $0.30 earnings per share. Analysts predict that NETSTREIT Corp. will post 1.19 EPS for the current year.

NETSTREIT Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 13th. Investors of record on Tuesday, September 3rd will be issued a $0.21 dividend. This is a boost from NETSTREIT’s previous quarterly dividend of $0.21. This represents a $0.84 dividend on an annualized basis and a yield of 4.98%. The ex-dividend date is Tuesday, September 3rd. NETSTREIT’s dividend payout ratio (DPR) is currently 933.33%.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on NTST shares. Scotiabank cut their price target 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. Wedbush began coverage on NETSTREIT in a report on Monday, August 19th. They issued a “neutral” rating and a $17.00 target price for the company. Finally, Raymond James raised NETSTREIT from an “outperform” rating to a “strong-buy” rating and lowered their price target for the company from $20.00 to $19.00 in a report on Wednesday, August 21st. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $17.88.

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.