20,940 Shares in NETSTREIT Corp. (NYSE:NTST) Bought by MQS Management LLC

MQS Management LLC acquired a new position in shares of NETSTREIT Corp. (NYSE:NTST) during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 20,940 shares of the company’s stock, valued at approximately $337,000.

Other hedge funds have also recently bought and sold shares of the company. Parallel Advisors LLC raised its holdings in shares of NETSTREIT by 702.3% during the 4th quarter. Parallel Advisors LLC now owns 3,442 shares of the company’s stock worth $61,000 after buying an additional 3,013 shares in the last quarter. Van ECK Associates Corp grew its position in NETSTREIT by 13.7% in the second quarter. Van ECK Associates Corp now owns 11,280 shares of the company’s stock valued at $182,000 after acquiring an additional 1,359 shares during the last quarter. Quest Partners LLC acquired a new position in NETSTREIT during the second quarter worth about $202,000. ProShare Advisors LLC lifted its holdings in shares of NETSTREIT by 8.5% in the first quarter. ProShare Advisors LLC now owns 12,434 shares of the company’s stock worth $228,000 after acquiring an additional 977 shares during the last quarter. Finally, SG Americas Securities LLC bought a new position in shares of NETSTREIT in the second quarter worth about $316,000.

NETSTREIT Stock Performance

NYSE NTST opened at $16.26 on Friday. The company has a market capitalization of $1.19 billion, a price-to-earnings ratio of 180.67 and a beta of 0.97. NETSTREIT Corp. has a twelve month low of $13.49 and a twelve month high of $18.97. The stock has a fifty day simple moving average of $16.57 and a 200 day simple moving average of $16.94. The company has a quick ratio of 4.08, a current ratio of 4.08 and a debt-to-equity ratio of 0.55.

NETSTREIT (NYSE:NTST) last issued its quarterly earnings results on Monday, July 29th. The company reported ($0.03) earnings per share for the quarter, missing the consensus estimate of $0.30 by ($0.33). The company had revenue of $39.57 million during the quarter, compared to analyst estimates of $39.31 million. NETSTREIT had a net margin of 3.32% and a return on equity of 0.39%. During the same period in the previous year, the company posted $0.30 EPS. Sell-side analysts expect that NETSTREIT Corp. will post 1.19 EPS for the current year.

NETSTREIT Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Tuesday, September 3rd were paid a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 5.17%. The ex-dividend date was Tuesday, September 3rd. This is an increase from NETSTREIT’s previous quarterly dividend of $0.21. NETSTREIT’s dividend payout ratio (DPR) is currently 933.33%.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. Raymond James raised shares of NETSTREIT from an “outperform” rating to a “strong-buy” rating and decreased their price target for the company from $20.00 to $19.00 in a report on Wednesday, August 21st. Scotiabank lowered their price target on shares of NETSTREIT from $18.00 to $16.00 and set a “sector perform” rating for the company in a report on Wednesday, August 7th. Finally, Wedbush initiated coverage on NETSTREIT in a research note on Monday, August 19th. They issued a “neutral” rating and a $17.00 price target for the company. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $17.88.

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.