NETSTREIT (NYSE:NTST) Sees Large Volume Increase

NETSTREIT Corp. (NYSE:NTST) shares saw unusually-strong trading volume on Monday . Approximately 863,536 shares changed hands during trading, a decline of 13% from the previous session’s volume of 990,802 shares.The stock last traded at $16.62 and had previously closed at $16.26.

Analysts Set New Price Targets

NTST has been the topic of a number of recent analyst reports. Wedbush assumed coverage on NETSTREIT in a report on Monday, August 19th. They issued a “neutral” rating and a $17.00 price objective on the stock. Raymond James raised NETSTREIT from an “outperform” rating to a “strong-buy” rating and cut their price objective for the stock from $20.00 to $19.00 in a research report on Wednesday, August 21st. Finally, Scotiabank decreased their target price on shares of NETSTREIT from $18.00 to $16.00 and set a “sector perform” rating on the stock in a research report on Wednesday, August 7th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $17.88.

NETSTREIT Stock Up 1.0 %

The business’s fifty day moving average is $16.57 and its two-hundred day moving average is $16.94. The stock has a market cap of $1.20 billion, a price-to-earnings ratio of 180.67 and a beta of 0.97. The company has a quick ratio of 4.08, a current ratio of 4.08 and a debt-to-equity ratio of 0.55.

NETSTREIT (NYSE:NTST) last posted its quarterly earnings results on Monday, July 29th. The company reported ($0.03) EPS for the quarter, missing the consensus estimate of $0.30 by ($0.33). The business had revenue of $39.57 million during the quarter, compared to analyst estimates of $39.31 million. NETSTREIT had a return on equity of 0.39% and a net margin of 3.32%. During the same quarter last year, the firm earned $0.30 EPS. Equities analysts forecast that NETSTREIT Corp. will post 1.19 earnings per share for the current fiscal year.

NETSTREIT Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Tuesday, September 3rd were paid a $0.21 dividend. The ex-dividend date was Tuesday, September 3rd. This represents a $0.84 dividend on an annualized basis and a yield of 5.12%. This is an increase from NETSTREIT’s previous quarterly dividend of $0.21. NETSTREIT’s payout ratio is currently 933.33%.

Hedge Funds Weigh In On NETSTREIT

Several large investors have recently bought and sold shares of NTST. GSA Capital Partners LLP lifted its position in shares of NETSTREIT by 173.4% during the 1st quarter. GSA Capital Partners LLP now owns 88,908 shares of the company’s stock worth $1,633,000 after buying an additional 56,393 shares during the last quarter. Wellington Management Group LLP grew its stake in NETSTREIT by 2.6% during the 4th quarter. Wellington Management Group LLP now owns 2,743,007 shares of the company’s stock worth $48,963,000 after buying an additional 69,005 shares during the last quarter. Capstone Investment Advisors LLC acquired a new position in NETSTREIT during the first quarter worth approximately $2,068,000. Vanguard Group Inc. lifted its stake in NETSTREIT by 5.1% in the fourth quarter. Vanguard Group Inc. now owns 6,785,782 shares of the company’s stock valued at $121,126,000 after buying an additional 330,192 shares during the last quarter. Finally, Silvercrest Asset Management Group LLC boosted its holdings in shares of NETSTREIT by 22.2% in the first quarter. Silvercrest Asset Management Group LLC now owns 1,007,072 shares of the company’s stock valued at $18,500,000 after acquiring an additional 183,058 shares during the period.

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.