Nordea Investment Management AB Purchases New Stake in NETSTREIT Corp. (NYSE:NTST)

Nordea Investment Management AB purchased a new position in NETSTREIT Corp. (NYSE:NTST) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 475,164 shares of the company’s stock, valued at approximately $6,714,000. Nordea Investment Management AB owned about 0.58% of NETSTREIT as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the company. 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 purchasing an additional 1,535,761 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of NETSTREIT by 765.7% in the 3rd 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 buying an additional 562,273 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in shares of NETSTREIT by 173.9% during the third 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 in the last quarter. Rush Island Management LP lifted its stake in NETSTREIT by 18.0% in the third quarter. Rush Island Management LP now owns 2,364,964 shares of the company’s stock worth $39,093,000 after acquiring an additional 359,993 shares during the period. Finally, Marshall Wace LLP boosted its holdings in NETSTREIT by 42.4% in the second quarter. Marshall Wace LLP now owns 1,009,106 shares of the company’s stock valued at $16,247,000 after acquiring an additional 300,481 shares in the last quarter.

NETSTREIT Trading Down 0.4 %

NYSE NTST opened at $13.70 on Friday. The stock’s fifty day moving average price is $15.14 and its 200-day moving average price is $15.94. 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 cap of $1.12 billion, a P/E ratio of -228.30 and a beta of 1.00. NETSTREIT Corp. has a 12 month low of $13.53 and a 12 month 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 for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.37). The firm had revenue of $41.44 million for the quarter, compared to the consensus estimate 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 business posted $0.31 earnings per share. As a group, equities analysts forecast that NETSTREIT Corp. will post 1.19 EPS for the current fiscal year.

NETSTREIT Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, December 13th. Shareholders of record on Monday, December 2nd were paid a dividend of $0.21 per share. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $0.84 annualized dividend and a yield of 6.13%. NETSTREIT’s dividend payout ratio is -1,400.00%.

Analyst Ratings Changes

Several research firms have recently commented on NTST. Scotiabank raised shares of 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. UBS Group started coverage on NETSTREIT in a research report on Monday, October 14th. They set a “buy” rating and a $19.00 price objective on the stock. Truist Financial decreased their target price on NETSTREIT from $20.00 to $19.00 and set a “buy” rating for the company in a research report on Thursday, December 5th. Mizuho dropped their price target on NETSTREIT from $17.00 to $15.00 and set an “outperform” rating on the stock in a research report on Wednesday. Finally, Stifel Nicolaus lowered their price objective on NETSTREIT from $19.50 to $19.25 and set a “buy” rating for the company in a research report on Tuesday, November 5th. Two analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, NETSTREIT has a consensus rating of “Moderate Buy” and an average price target of $18.04.

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.