Stifel Financial Corp Makes New Investment in NETSTREIT Corp. (NYSE:NTST)

Stifel Financial Corp bought a new stake in NETSTREIT Corp. (NYSE:NTST) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 29,016 shares of the company’s stock, valued at approximately $480,000.

Several other hedge funds and other institutional investors have also made changes to their positions in NTST. Sumitomo Mitsui Trust Group Inc. lifted its stake 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 worth $26,700,000 after acquiring an additional 1,535,761 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in NETSTREIT by 765.7% in 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 worth $10,508,000 after purchasing an additional 562,273 shares during the period. Rush Island Management LP lifted its position in shares of 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 purchasing an additional 359,993 shares during the last quarter. Marshall Wace LLP boosted its stake in shares of NETSTREIT by 42.4% during the second quarter. Marshall Wace LLP now owns 1,009,106 shares of the company’s stock valued at $16,247,000 after purchasing an additional 300,481 shares during the period. Finally, Quest Partners LLC grew its holdings in shares of 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 purchasing an additional 243,834 shares during the last quarter.

NETSTREIT Stock Down 1.1 %

Shares of NYSE NTST opened at $13.95 on Friday. The company has a current ratio of 4.11, a quick ratio of 4.11 and a debt-to-equity ratio of 0.57. The stock has a market capitalization of $1.14 billion, a PE ratio of -232.46 and a beta of 0.97. NETSTREIT Corp. has a 12-month low of $13.80 and a 12-month high of $18.97. The stock’s fifty day simple moving average is $15.48 and its two-hundred day simple moving average is $16.13.

NETSTREIT (NYSE:NTST) last announced its earnings results on Monday, November 4th. The company reported ($0.07) 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 firm had revenue of $41.44 million during the quarter, compared to the consensus estimate of $41.10 million. During the same quarter in the prior year, the firm posted $0.31 earnings per share. As a group, analysts expect that NETSTREIT Corp. will post 1.19 EPS for the current fiscal year.

NETSTREIT Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, December 13th. Investors 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 6.02%. NETSTREIT’s payout ratio is -1,400.00%.

Analyst Upgrades and Downgrades

NTST has been the subject of a number of research analyst reports. Truist Financial decreased their price objective on shares of NETSTREIT from $20.00 to $19.00 and set a “buy” rating for the company in a report on Thursday, December 5th. Scotiabank upgraded NETSTREIT from a “sector perform” rating to a “sector outperform” rating and boosted their price target for the company from $16.00 to $18.00 in a report on Monday, November 11th. Stifel Nicolaus dropped their price objective on NETSTREIT from $19.50 to $19.25 and set a “buy” rating on the stock in a research note on Tuesday, November 5th. 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. Two 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. According to MarketBeat, NETSTREIT presently has a consensus rating of “Moderate Buy” and an average 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.