State of New Jersey Common Pension Fund D Has $1.91 Million Holdings in NETSTREIT Corp. (NYSE:NTST)

State of New Jersey Common Pension Fund D lifted its stake in shares of NETSTREIT Corp. (NYSE:NTST) by 6.1% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 115,660 shares of the company’s stock after buying an additional 6,690 shares during the period. State of New Jersey Common Pension Fund D owned about 0.15% of NETSTREIT worth $1,912,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of NTST. Swiss National Bank increased its holdings in shares of NETSTREIT by 2.7% during the first quarter. Swiss National Bank now owns 135,600 shares of the company’s stock worth $2,491,000 after buying an additional 3,600 shares in the last quarter. ProShare Advisors LLC increased its holdings in shares of NETSTREIT by 8.5% during the first quarter. ProShare Advisors LLC now owns 12,434 shares of the company’s stock worth $228,000 after buying an additional 977 shares in the last quarter. Vanguard Group Inc. increased its holdings in shares of NETSTREIT by 8.3% during the first quarter. Vanguard Group Inc. now owns 7,352,295 shares of the company’s stock worth $135,062,000 after buying an additional 566,513 shares in the last quarter. CANADA LIFE ASSURANCE Co increased its holdings in shares of NETSTREIT by 10.3% during the first quarter. CANADA LIFE ASSURANCE Co now owns 89,333 shares of the company’s stock worth $1,641,000 after buying an additional 8,317 shares in the last quarter. Finally, Long Pond Capital LP grew its stake in shares of NETSTREIT by 235.2% in the first quarter. Long Pond Capital LP now owns 5,967,437 shares of the company’s stock worth $109,622,000 after purchasing an additional 4,187,438 shares during the last quarter.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the stock. Wedbush assumed coverage on shares of NETSTREIT in a research note on Monday, August 19th. They issued a “neutral” rating and a $17.00 price objective on the stock. Scotiabank raised shares of NETSTREIT from a “sector perform” rating to a “sector outperform” rating and boosted their price objective for the stock from $16.00 to $18.00 in a research note on Monday, November 11th. UBS Group assumed coverage on shares of NETSTREIT in a research note on Monday, October 14th. They issued a “buy” rating and a $19.00 price objective on the stock. Raymond James raised shares of NETSTREIT from an “outperform” rating to a “strong-buy” rating and reduced their price objective for the stock from $20.00 to $19.00 in a research note on Wednesday, August 21st. Finally, Stifel Nicolaus reduced 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. Three investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $18.30.

NETSTREIT Price Performance

NTST stock opened at $15.45 on Monday. The stock has a market capitalization of $1.26 billion, a PE ratio of -257.46 and a beta of 0.97. The company’s 50-day moving average is $16.11 and its 200-day moving average is $16.55. The company has a debt-to-equity ratio of 0.57, a current ratio of 4.11 and a quick ratio of 4.11. NETSTREIT Corp. has a 1 year low of $15.02 and a 1 year high of $18.97.

NETSTREIT (NYSE:NTST) last released its quarterly earnings data 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). The company had revenue of $41.44 million for the quarter, compared to the consensus estimate of $41.10 million. NETSTREIT had a negative return on equity of 0.35% and a negative net margin of 2.96%. During the same period last year, the company earned $0.31 EPS. Equities research analysts expect that NETSTREIT Corp. will post 1.19 EPS for the current fiscal year.

NETSTREIT Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Monday, December 2nd will be given a dividend of $0.21 per share. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $0.84 dividend on an annualized basis and a dividend yield of 5.44%. NETSTREIT’s dividend payout ratio (DPR) is presently -1,399.77%.

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.