UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Has $10.51 Million Holdings in NETSTREIT Corp. (NYSE:NTST)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in NETSTREIT Corp. (NYSE:NTST) by 765.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 635,707 shares of the company’s stock after purchasing an additional 562,273 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in NETSTREIT were worth $10,508,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Quarry LP acquired a new stake in NETSTREIT during the second quarter valued at $45,000. Point72 DIFC Ltd purchased a new stake in shares of NETSTREIT during the 2nd quarter worth about $83,000. M&G PLC bought a new stake in shares of NETSTREIT in the 3rd quarter valued at approximately $173,000. Custom Index Systems LLC acquired a new position in NETSTREIT in the third quarter worth approximately $170,000. Finally, Van ECK Associates Corp raised its position in NETSTREIT by 13.7% during the second quarter. Van ECK Associates Corp now owns 11,280 shares of the company’s stock valued at $182,000 after acquiring an additional 1,359 shares in the last quarter.

NETSTREIT Stock Performance

NTST opened at $15.70 on Monday. NETSTREIT Corp. has a 12-month low of $15.04 and a 12-month high of $18.97. The firm has a market capitalization of $1.28 billion, a P/E ratio of -261.62 and a beta of 0.97. The stock’s 50 day moving average price is $15.91 and its two-hundred day moving average price is $16.39. The company has a quick ratio of 4.11, a current ratio of 4.11 and a debt-to-equity ratio of 0.57.

NETSTREIT (NYSE:NTST) last announced its earnings results on Monday, November 4th. The company reported ($0.07) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.37). NETSTREIT had a negative return on equity of 0.35% and a negative net margin of 2.96%. The company had revenue of $41.44 million for the quarter, compared to the consensus estimate of $41.10 million. During the same period last year, the firm posted $0.31 EPS. On average, equities analysts forecast that NETSTREIT Corp. will post 1.19 earnings per share for the current year.

NETSTREIT Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Monday, December 2nd will be paid a dividend of $0.21 per share. The ex-dividend date is Monday, December 2nd. This represents a $0.84 annualized dividend and a yield of 5.35%. NETSTREIT’s dividend payout ratio is -1,399.77%.

Analysts Set New Price Targets

Several analysts have commented on NTST shares. Stifel Nicolaus decreased their target price on shares of NETSTREIT from $19.50 to $19.25 and set a “buy” rating for the company in a research report on Tuesday, November 5th. Wedbush assumed coverage on NETSTREIT in a report on Monday, August 19th. They set a “neutral” rating and a $17.00 target price on the stock. Truist Financial decreased their price target on NETSTREIT from $20.00 to $19.00 and set a “buy” rating for the company in a research note on Thursday. Scotiabank raised NETSTREIT from a “sector perform” rating to a “sector outperform” rating and raised their price objective for the company from $16.00 to $18.00 in a research note on Monday, November 11th. Finally, UBS Group assumed coverage on NETSTREIT in a research report on Monday, October 14th. They set a “buy” rating and a $19.00 target price for the company. Three research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $18.33.

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.