Dark Forest Capital Management LP Sells 31,625 Shares of NETSTREIT Corp. (NYSE:NTST)

Dark Forest Capital Management LP lowered its position in shares of NETSTREIT Corp. (NYSE:NTST) by 41.7% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 44,265 shares of the company’s stock after selling 31,625 shares during the quarter. Dark Forest Capital Management LP’s holdings in NETSTREIT were worth $713,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of NTST. Parallel Advisors LLC grew its stake in NETSTREIT by 702.3% in the 4th quarter. Parallel Advisors LLC now owns 3,442 shares of the company’s stock valued at $61,000 after purchasing an additional 3,013 shares during the period. Point72 DIFC Ltd bought a new position in NETSTREIT during the second quarter valued at about $83,000. Van ECK Associates Corp increased its holdings in NETSTREIT by 13.7% during the second quarter. Van ECK Associates Corp now owns 11,280 shares of the company’s stock worth $182,000 after buying an additional 1,359 shares during the last quarter. Quest Partners LLC bought a new stake in NETSTREIT in the second quarter worth about $202,000. Finally, ProShare Advisors LLC boosted its stake in NETSTREIT by 8.5% in the first quarter. ProShare Advisors LLC now owns 12,434 shares of the company’s stock valued at $228,000 after acquiring an additional 977 shares during the last quarter.

NETSTREIT Stock Performance

NYSE:NTST opened at $16.37 on Friday. NETSTREIT Corp. has a twelve month low of $13.49 and a twelve month 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 stock has a market cap of $1.27 billion, a P/E ratio of 181.85 and a beta of 0.97. The business’s 50-day moving average price is $16.51 and its two-hundred day moving average price is $16.92.

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). The company had revenue of $39.57 million for the quarter, compared to the consensus estimate of $39.31 million. NETSTREIT had a net margin of 3.32% and a return on equity of 0.39%. During the same quarter in the previous year, the firm earned $0.30 earnings per share. As a group, equities analysts predict that NETSTREIT Corp. will post 1.19 EPS for the current fiscal 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 $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 5.13%. The ex-dividend date was Tuesday, September 3rd. This is a boost from NETSTREIT’s previous quarterly dividend of $0.21. NETSTREIT’s dividend payout ratio is currently 933.44%.

Analysts Set New Price Targets

A number of research firms have issued reports on NTST. Raymond James raised NETSTREIT from an “outperform” rating to a “strong-buy” rating and decreased their target price for the stock from $20.00 to $19.00 in a research report on Wednesday, August 21st. Scotiabank decreased their price objective on 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 shares of NETSTREIT in a report on Monday, August 19th. They set a “neutral” rating and a $17.00 price objective on the stock. One analyst has rated the stock with a sell rating, four have issued a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company 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.