Renaissance Technologies LLC Sells 163,200 Shares of NETSTREIT Corp. (NYSE:NTST)

Renaissance Technologies LLC lessened its position in NETSTREIT Corp. (NYSE:NTST) by 63.1% in the second quarter, HoldingsChannel reports. The firm owned 95,400 shares of the company’s stock after selling 163,200 shares during the quarter. Renaissance Technologies LLC’s holdings in NETSTREIT were worth $1,536,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Parallel Advisors LLC raised its holdings in NETSTREIT by 702.3% in the fourth quarter. Parallel Advisors LLC now owns 3,442 shares of the company’s stock worth $61,000 after purchasing an additional 3,013 shares in the last quarter. Van ECK Associates Corp increased its stake in shares of NETSTREIT by 13.7% in the 2nd quarter. Van ECK Associates Corp now owns 11,280 shares of the company’s stock worth $182,000 after acquiring an additional 1,359 shares in the last quarter. Quest Partners LLC purchased a new position in NETSTREIT during the 2nd quarter valued at about $202,000. ProShare Advisors LLC lifted its position 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 acquiring an additional 977 shares during the period. Finally, SG Americas Securities LLC bought a new stake in NETSTREIT during the second quarter worth about $316,000.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on NTST shares. Raymond James raised shares of 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 note on Wednesday, August 21st. Wedbush initiated 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. Finally, Scotiabank dropped their target price on NETSTREIT from $18.00 to $16.00 and set a “sector perform” rating on the stock in a report on Wednesday, August 7th. One investment 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 company’s stock. According to MarketBeat.com, NETSTREIT has an average rating of “Moderate Buy” and an average target price of $17.88.

NETSTREIT Trading Down 2.7 %

Shares of NYSE:NTST opened at $15.60 on Friday. 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 Corp. has a 1 year low of $13.49 and a 1 year high of $18.97. The company has a market cap of $1.14 billion, a P/E ratio of 173.33 and a beta of 0.97. The stock’s fifty day moving average price is $16.42 and its 200-day moving average price is $16.88.

NETSTREIT (NYSE:NTST) last posted 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 company had revenue of $39.57 million for the quarter, compared to the consensus estimate of $39.31 million. During the same quarter in the prior year, the company posted $0.30 EPS. Sell-side analysts expect that NETSTREIT Corp. will post 1.19 earnings per share for the current 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 given a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 5.38%. The ex-dividend date was Tuesday, September 3rd. This is an increase from NETSTREIT’s previous quarterly dividend of $0.21. NETSTREIT’s payout ratio is 933.33%.

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.