Fmr LLC Lowers Stock Holdings in NETSTREIT Corp. (NYSE:NTST)

Fmr LLC decreased its holdings in NETSTREIT Corp. (NYSE:NTST) by 99.6% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 6,375 shares of the company’s stock after selling 1,761,887 shares during the quarter. Fmr LLC’s holdings in NETSTREIT were worth $105,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also modified their holdings of NTST. Sumitomo Mitsui Trust Group Inc. boosted 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 purchasing an additional 1,535,761 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of NETSTREIT by 9.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,078,174 shares of the company’s stock worth $17,822,000 after acquiring an additional 95,433 shares during the last quarter. GSA Capital Partners LLP grew its holdings in NETSTREIT by 107.8% during the 3rd quarter. GSA Capital Partners LLP now owns 149,651 shares of the company’s stock worth $2,474,000 after acquiring an additional 77,647 shares in the last quarter. abrdn plc raised its position in shares of NETSTREIT by 15.1% during the 3rd quarter. abrdn plc now owns 15,331 shares of the company’s stock valued at $253,000 after acquiring an additional 2,017 shares in the last quarter. Finally, Cubist Systematic Strategies LLC boosted its stake in NETSTREIT by 5,699.7% in the second quarter. Cubist Systematic Strategies LLC now owns 146,616 shares of the company’s stock valued at $2,361,000 after acquiring an additional 144,088 shares during the period.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the company. Truist Financial decreased their price target on NETSTREIT from $20.00 to $19.00 and set a “buy” rating for the company in a research note on Thursday, December 5th. UBS Group initiated coverage on NETSTREIT in a report on Monday, October 14th. They set a “buy” rating and a $19.00 price target for the company. Stifel Nicolaus decreased their price target 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. Finally, Scotiabank raised NETSTREIT from a “sector perform” rating to a “sector outperform” rating and raised their target price for the stock from $16.00 to $18.00 in a research report on Monday, November 11th. Two analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $19.03.

NETSTREIT Trading Up 0.1 %

Shares of NTST opened at $14.18 on Tuesday. 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 $15.72 and its 200-day simple moving average is $16.22. The company has a quick ratio of 4.11, a current ratio of 4.11 and a debt-to-equity ratio of 0.57. The firm has a market capitalization of $1.16 billion, a PE ratio of -236.29 and a beta of 0.97.

NETSTREIT (NYSE:NTST) last issued its quarterly earnings data on Monday, November 4th. The company reported ($0.07) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.30 by ($0.37). The business had revenue of $41.44 million during the quarter, compared to analyst estimates 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 in the prior year, the firm posted $0.31 earnings per share. As a group, research analysts predict that NETSTREIT Corp. will post 1.19 earnings per share for the current year.

NETSTREIT Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 13th. Stockholders of record on Monday, December 2nd were given a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 5.92%. The ex-dividend date of this dividend was Monday, December 2nd. 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.