Deprince Race & Zollo Inc. Cuts Stock Position in NETSTREIT Corp. (NYSE:NTST)

Deprince Race & Zollo Inc. lessened its position in NETSTREIT Corp. (NYSE:NTST) by 54.7% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,390,038 shares of the company’s stock after selling 1,681,680 shares during the quarter. Deprince Race & Zollo Inc.’s holdings in NETSTREIT were worth $22,380,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Employees Retirement System of Texas acquired a new position in shares of NETSTREIT during the 2nd quarter worth about $1,932,000. APG Asset Management US Inc. boosted its position in shares of NETSTREIT by 5.6% in the 2nd quarter. APG Asset Management US Inc. now owns 1,520,236 shares of the company’s stock valued at $24,597,000 after purchasing an additional 80,553 shares during the period. AQR Capital Management LLC boosted its position in shares of NETSTREIT by 11.8% in the 2nd quarter. AQR Capital Management LLC now owns 25,075 shares of the company’s stock valued at $404,000 after purchasing an additional 2,656 shares during the period. Squarepoint Ops LLC boosted its position in shares of NETSTREIT by 402.4% in the 2nd quarter. Squarepoint Ops LLC now owns 54,473 shares of the company’s stock valued at $877,000 after purchasing an additional 43,630 shares during the period. Finally, Cubist Systematic Strategies LLC boosted its position in shares of NETSTREIT by 5,699.7% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 146,616 shares of the company’s stock valued at $2,361,000 after purchasing an additional 144,088 shares during the period.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on NTST. Raymond James raised NETSTREIT from an “outperform” rating to a “strong-buy” rating and decreased their target price for the company from $20.00 to $19.00 in a research report on Wednesday, August 21st. Scotiabank decreased their target price on NETSTREIT from $18.00 to $16.00 and set a “sector perform” rating for the company in a research report on Wednesday, August 7th. Finally, Wedbush began coverage on NETSTREIT in a research report on Monday, August 19th. They set a “neutral” rating and a $17.00 price objective for the company. One 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 assigned a strong buy rating to the stock. Based on data from MarketBeat.com, NETSTREIT currently has an average rating of “Moderate Buy” and an average target price of $17.88.

NETSTREIT Stock Performance

Shares of NTST stock opened at $16.43 on Thursday. The company has a market cap of $1.27 billion, a price-to-earnings ratio of 182.52 and a beta of 0.97. The stock has a 50 day simple moving average of $16.53 and a 200-day simple moving average of $16.92. NETSTREIT Corp. has a 12-month low of $13.49 and a 12-month high of $18.97. The company has a current ratio of 4.08, a quick ratio of 4.08 and a debt-to-equity ratio of 0.55.

NETSTREIT (NYSE:NTST) last released its quarterly earnings data 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). NETSTREIT had a net margin of 3.32% and a return on equity of 0.39%. The firm had revenue of $39.57 million during the quarter, compared to analysts’ expectations of $39.31 million. During the same period in the previous year, the business earned $0.30 earnings per share. On average, equities analysts forecast that NETSTREIT Corp. will post 1.19 EPS for the current year.

NETSTREIT Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Tuesday, September 3rd were paid a $0.21 dividend. This is an increase from NETSTREIT’s previous quarterly dividend of $0.21. This represents a $0.84 annualized dividend and a yield of 5.11%. The ex-dividend date of this dividend was Tuesday, September 3rd. NETSTREIT’s dividend payout ratio (DPR) is presently 933.44%.

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.