The Manufacturers Life Insurance Company Increases Stake in NETSTREIT Corp. (NYSE:NTST)

The Manufacturers Life Insurance Company increased its position in shares of NETSTREIT Corp. (NYSE:NTST) by 8.3% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 36,136 shares of the company’s stock after buying an additional 2,755 shares during the period. The Manufacturers Life Insurance Company’s holdings in NETSTREIT were worth $582,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. Point72 DIFC Ltd purchased a new stake in shares of NETSTREIT in the 2nd quarter valued at approximately $83,000. Van ECK Associates Corp increased its holdings 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 buying an additional 1,359 shares during the last quarter. ProShare Advisors LLC raised 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 buying an additional 977 shares in the last quarter. Quest Partners LLC purchased a new stake in NETSTREIT during the 2nd quarter worth about $202,000. Finally, Susquehanna Fundamental Investments LLC acquired a new position in shares of NETSTREIT during the 1st quarter worth about $334,000.

NETSTREIT Trading Up 1.8 %

Shares of NTST stock opened at $16.30 on Wednesday. The company has a market capitalization of $1.20 billion, a P/E ratio of 181.11 and a beta of 0.96. The company has a current ratio of 4.08, a quick ratio of 4.08 and a debt-to-equity ratio of 0.55. The business’s 50 day moving average is $16.35 and its two-hundred day moving average is $16.77. NETSTREIT Corp. has a twelve month low of $13.49 and a twelve month high of $18.97.

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

NETSTREIT Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Tuesday, September 3rd were issued a dividend of $0.21 per share. This is a boost from NETSTREIT’s previous quarterly dividend of $0.21. This represents a $0.84 annualized dividend and a yield of 5.15%. The ex-dividend date of this dividend was Tuesday, September 3rd. NETSTREIT’s dividend payout ratio is currently 933.33%.

Analyst Ratings Changes

Several equities research analysts recently weighed in on NTST shares. 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 note on Wednesday, August 7th. UBS Group started coverage on shares of NETSTREIT in a report on Monday. They issued a “buy” rating and a $19.00 target price for the company. Wedbush began coverage on shares of NETSTREIT in a research note on Monday, August 19th. They set a “neutral” rating and a $17.00 price target on the stock. Finally, Raymond James raised shares of NETSTREIT from an “outperform” rating to a “strong-buy” rating and reduced their price target for the company from $20.00 to $19.00 in a research report on Wednesday, August 21st. Four analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $17.98.

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.