NETSTREIT (NYSE:NTST) Sees Unusually-High Trading Volume

NETSTREIT Corp. (NYSE:NTST) shares saw unusually-strong trading volume on Thursday . Approximately 2,568,527 shares traded hands during trading, an increase of 157% from the previous session’s volume of 1,001,135 shares.The stock last traded at $16.08 and had previously closed at $16.24.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on NTST shares. Scotiabank reduced their price target on shares of NETSTREIT from $18.00 to $16.00 and set a “sector perform” rating on the stock in a research report on Wednesday, August 7th. Wedbush assumed coverage on shares of NETSTREIT in a report on Monday, August 19th. They issued a “neutral” rating and a $17.00 target price on the stock. Finally, Raymond James raised NETSTREIT from an “outperform” rating to a “strong-buy” rating and lowered their target price 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 issued 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 presently has a consensus rating of “Moderate Buy” and a consensus price target of $17.88.

NETSTREIT Stock Performance

The company has a market cap of $1.18 billion, a P/E ratio of 180.50 and a beta of 0.97. The stock has a fifty day moving average price of $16.46 and a two-hundred day moving average price of $16.89. The company has a debt-to-equity ratio of 0.55, a current ratio of 4.08 and a quick ratio of 4.08.

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

NETSTREIT Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Tuesday, September 3rd were paid a dividend of $0.21 per share. This is a boost from NETSTREIT’s previous quarterly dividend of $0.21. The ex-dividend date was Tuesday, September 3rd. This represents a $0.84 annualized dividend and a yield of 5.24%. NETSTREIT’s dividend payout ratio (DPR) is presently 933.33%.

Institutional Investors Weigh In On NETSTREIT

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. GSA Capital Partners LLP increased its position in shares of NETSTREIT by 173.4% during the 1st quarter. GSA Capital Partners LLP now owns 88,908 shares of the company’s stock valued at $1,633,000 after purchasing an additional 56,393 shares during the period. Wellington Management Group LLP grew its holdings in NETSTREIT by 2.6% during the fourth quarter. Wellington Management Group LLP now owns 2,743,007 shares of the company’s stock worth $48,963,000 after acquiring an additional 69,005 shares during the period. Capstone Investment Advisors LLC bought a new stake in NETSTREIT in the first quarter worth about $2,068,000. Vanguard Group Inc. lifted its holdings in NETSTREIT by 5.1% in the 4th quarter. Vanguard Group Inc. now owns 6,785,782 shares of the company’s stock valued at $121,126,000 after acquiring an additional 330,192 shares during the last quarter. Finally, Silvercrest Asset Management Group LLC boosted its position in shares of NETSTREIT by 22.2% during the 1st quarter. Silvercrest Asset Management Group LLC now owns 1,007,072 shares of the company’s stock valued at $18,500,000 after purchasing an additional 183,058 shares in the last quarter.

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.