NETSTREIT Corp. (NYSE:NTST) Shares Bought by State Street Corp

State Street Corp lifted its stake in shares of NETSTREIT Corp. (NYSE:NTST) by 2.9% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,104,081 shares of the company’s stock after purchasing an additional 87,669 shares during the quarter. State Street Corp owned about 3.80% of NETSTREIT worth $51,310,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of the stock. Sumitomo Mitsui Trust Group Inc. boosted its position in shares of NETSTREIT by 1,931.7% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,615,264 shares of the company’s stock valued at $26,700,000 after purchasing an additional 1,535,761 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in NETSTREIT by 765.7% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 635,707 shares of the company’s stock valued at $10,508,000 after purchasing an additional 562,273 shares during the last quarter. Rush Island Management LP boosted its holdings in NETSTREIT by 18.0% during the third quarter. Rush Island Management LP now owns 2,364,964 shares of the company’s stock worth $39,093,000 after buying an additional 359,993 shares in the last quarter. Marshall Wace LLP grew its position in NETSTREIT by 42.4% in the second quarter. Marshall Wace LLP now owns 1,009,106 shares of the company’s stock worth $16,247,000 after buying an additional 300,481 shares during the last quarter. Finally, Quest Partners LLC grew its position in NETSTREIT by 1,948.0% in the third quarter. Quest Partners LLC now owns 256,351 shares of the company’s stock worth $4,237,000 after buying an additional 243,834 shares during the last quarter.

NETSTREIT Stock Performance

NTST stock opened at $13.84 on Friday. The firm has a 50 day simple moving average of $15.75 and a 200 day simple moving average of $16.25. NETSTREIT Corp. has a 52 week low of $13.83 and a 52 week high of $18.97. The stock has a market cap of $1.13 billion, a P/E ratio of -230.63 and a beta of 0.97. The company has a debt-to-equity ratio of 0.57, a quick ratio of 4.11 and a current ratio of 4.11.

NETSTREIT (NYSE:NTST) last issued 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 net margin of 2.96% and a negative return on equity of 0.35%. The company had revenue of $41.44 million for the quarter, compared to analyst estimates of $41.10 million. During the same period last year, the business earned $0.31 EPS. Research analysts anticipate that NETSTREIT Corp. will post 1.19 earnings per share for the current fiscal year.

NETSTREIT Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, December 13th. Investors of record on Monday, December 2nd were paid a $0.21 dividend. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $0.84 annualized dividend and a dividend yield of 6.07%. NETSTREIT’s payout ratio is -1,400.00%.

Analysts Set New Price Targets

Several research firms have recently weighed in on NTST. UBS Group assumed coverage on NETSTREIT in a research note on Monday, October 14th. They set a “buy” rating and a $19.00 price objective for the company. 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 report on Thursday, December 5th. Stifel Nicolaus reduced their price objective on shares of NETSTREIT from $19.50 to $19.25 and set a “buy” rating for the company in a research note on Tuesday, November 5th. Finally, Scotiabank raised shares of NETSTREIT from a “sector perform” rating to a “sector outperform” rating and lifted their target price for the stock from $16.00 to $18.00 in a research report on Monday, November 11th. Two investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, NETSTREIT has a consensus rating of “Moderate Buy” and a consensus price target of $19.03.

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.