State of New Jersey Common Pension Fund D Purchases 16,032 Shares of NETSTREIT Corp. (NYSE:NTST)

State of New Jersey Common Pension Fund D lifted its position in NETSTREIT Corp. (NYSE:NTST) by 13.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 131,692 shares of the company’s stock after buying an additional 16,032 shares during the period. State of New Jersey Common Pension Fund D’s holdings in NETSTREIT were worth $1,863,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in NTST. Nordea Investment Management AB purchased a new stake in shares of NETSTREIT during the fourth quarter valued at $6,714,000. JPMorgan Chase & Co. boosted its holdings in shares of NETSTREIT by 173.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 569,527 shares of the company’s stock valued at $9,414,000 after acquiring an additional 361,577 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. grew its stake in shares of NETSTREIT by 1,931.7% in the third 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 period. Vestcor Inc purchased a new position in shares of NETSTREIT during the third quarter valued at approximately $913,000. Finally, Geode Capital Management LLC lifted its position in NETSTREIT by 6.0% during the third quarter. Geode Capital Management LLC now owns 1,980,800 shares of the company’s stock valued at $32,748,000 after purchasing an additional 112,047 shares during the period.

NETSTREIT Trading Down 0.7 %

Shares of NYSE:NTST opened at $14.21 on Tuesday. NETSTREIT Corp. has a 12-month low of $13.42 and a 12-month high of $18.97. The company has a market cap of $1.16 billion, a PE ratio of -236.73 and a beta of 1.00. The stock has a 50 day moving average of $14.19 and a 200 day moving average of $15.44. The company has a current ratio of 4.11, a quick ratio of 4.11 and a debt-to-equity ratio of 0.57.

NETSTREIT (NYSE:NTST) last announced its quarterly earnings data on Monday, February 24th. The company reported $0.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.31 by $0.01. NETSTREIT had a negative net margin of 2.96% and a negative return on equity of 0.35%. As a group, equities research analysts expect that NETSTREIT Corp. will post 1.19 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on NTST shares. Capital One Financial initiated coverage on shares of NETSTREIT in a research note on Wednesday, February 12th. They set an “overweight” rating for the company. Truist Financial lowered their target price on NETSTREIT from $20.00 to $19.00 and set a “buy” rating on the stock in a report on Thursday, December 5th. Raymond James cut their price target on NETSTREIT from $19.00 to $17.00 and set a “strong-buy” rating for the company in a research note on Friday, January 17th. Stifel Nicolaus lowered their price objective on shares of NETSTREIT from $19.50 to $19.25 and set a “buy” rating on the stock in a research note on Tuesday, November 5th. Finally, Scotiabank upgraded shares of NETSTREIT from a “sector perform” rating to a “sector outperform” rating and boosted their target price for the company from $16.00 to $18.00 in a research report on Monday, November 11th. One analyst has rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, NETSTREIT presently has an average rating of “Buy” and a consensus target price of $17.75.

NETSTREIT 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.