Geode Capital Management LLC Grows Stake in NETSTREIT Corp. (NYSE:NTST)

Geode Capital Management LLC boosted its position in shares of NETSTREIT Corp. (NYSE:NTST) by 6.0% in the third quarter, Holdings Channel reports. The fund owned 1,980,800 shares of the company’s stock after purchasing an additional 112,047 shares during the quarter. Geode Capital Management LLC’s holdings in NETSTREIT were worth $32,748,000 as of its most recent filing with the SEC.

Other hedge funds also recently bought and sold shares of the company. Bank of New York Mellon Corp grew its stake in shares of NETSTREIT by 7.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 409,904 shares of the company’s stock valued at $6,599,000 after purchasing an additional 28,222 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in NETSTREIT by 10.2% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 25,581 shares of the company’s stock valued at $412,000 after buying an additional 2,373 shares during the last quarter. Van ECK Associates Corp raised its position in NETSTREIT by 13.7% in the second 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 during the period. Rhumbline Advisers raised its position in NETSTREIT by 10.2% in the second quarter. Rhumbline Advisers now owns 126,929 shares of the company’s stock worth $2,044,000 after acquiring an additional 11,765 shares during the period. Finally, Arizona State Retirement System boosted its stake in shares of NETSTREIT by 8.6% during the 2nd quarter. Arizona State Retirement System now owns 20,498 shares of the company’s stock worth $330,000 after acquiring an additional 1,617 shares during the last quarter.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on NTST shares. UBS Group started coverage on NETSTREIT in a research note on Monday, October 14th. They issued a “buy” rating and a $19.00 price objective for the company. Scotiabank upgraded NETSTREIT from a “sector perform” rating to a “sector outperform” rating and upped their price target for the stock from $16.00 to $18.00 in a research report on Monday, November 11th. Truist Financial lowered their price objective on NETSTREIT from $20.00 to $19.00 and set a “buy” rating on the stock in a research report on Thursday, December 5th. Finally, Stifel Nicolaus reduced their target price on shares of NETSTREIT from $19.50 to $19.25 and set a “buy” rating for the company in a report on Tuesday, November 5th. Two equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $19.03.

NETSTREIT Stock Down 0.5 %

NYSE NTST opened at $14.11 on Thursday. The stock has a 50 day moving average price of $15.58 and a 200-day moving average price of $16.16. NETSTREIT Corp. has a one year low of $13.80 and a one year high of $18.97. The company has a market capitalization of $1.15 billion, a P/E ratio of -235.13 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 released its quarterly earnings data on Monday, November 4th. The company reported ($0.07) EPS for the quarter, missing the consensus estimate of $0.30 by ($0.37). The business had revenue of $41.44 million for the quarter, compared to the consensus estimate of $41.10 million. NETSTREIT had a negative net margin of 2.96% and a negative return on equity of 0.35%. During the same quarter last year, the business earned $0.31 EPS. As a group, equities analysts predict that NETSTREIT Corp. will post 1.19 EPS for the current fiscal year.

NETSTREIT Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 13th. Shareholders of record on Monday, December 2nd were given a dividend of $0.21 per share. The ex-dividend date was Monday, December 2nd. This represents a $0.84 dividend on an annualized basis and a yield of 5.95%. NETSTREIT’s dividend payout ratio (DPR) is presently -1,400.00%.

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.