Rhumbline Advisers Acquires 11,765 Shares of NETSTREIT Corp. (NYSE:NTST)

Rhumbline Advisers lifted its holdings in shares of NETSTREIT Corp. (NYSE:NTST) by 10.2% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 126,929 shares of the company’s stock after acquiring an additional 11,765 shares during the period. Rhumbline Advisers owned approximately 0.16% of NETSTREIT worth $2,044,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in NTST. Parallel Advisors LLC increased its position in shares of NETSTREIT by 702.3% during the fourth quarter. Parallel Advisors LLC now owns 3,442 shares of the company’s stock worth $61,000 after acquiring an additional 3,013 shares in the last quarter. Quadrant Capital Group LLC increased its position in shares of NETSTREIT by 204.9% during the fourth quarter. Quadrant Capital Group LLC now owns 8,361 shares of the company’s stock worth $149,000 after acquiring an additional 5,619 shares in the last quarter. Van ECK Associates Corp increased its position in shares of NETSTREIT by 13.7% during the second quarter. Van ECK Associates Corp now owns 11,280 shares of the company’s stock worth $182,000 after acquiring an additional 1,359 shares in the last quarter. ProShare Advisors LLC increased its position 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 acquiring an additional 977 shares in the last quarter. Finally, SG Americas Securities LLC bought a new stake in shares of NETSTREIT during the second quarter worth about $316,000.

NETSTREIT Stock Down 0.9 %

NTST opened at $16.43 on Friday. The company has a quick ratio of 4.08, a current ratio of 4.08 and a debt-to-equity ratio of 0.55. The stock has a market cap of $1.21 billion, a price-to-earnings ratio of 182.50 and a beta of 0.97. NETSTREIT Corp. has a twelve month low of $13.49 and a twelve month high of $18.97. The company’s 50-day moving average price is $16.58 and its two-hundred day moving average price is $16.95.

NETSTREIT (NYSE:NTST) last released its earnings results on Monday, July 29th. The company reported ($0.03) earnings per share for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.33). The company had revenue of $39.57 million during the quarter, compared to analysts’ expectations of $39.31 million. NETSTREIT had a net margin of 3.32% and a return on equity of 0.39%. During the same quarter in the previous year, the firm earned $0.30 earnings per share. As a group, equities analysts expect that NETSTREIT Corp. will post 1.19 earnings per share for the current year.

NETSTREIT Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Tuesday, September 3rd were paid a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 5.11%. This is a boost from NETSTREIT’s previous quarterly dividend of $0.21. The ex-dividend date of this dividend was Tuesday, September 3rd. NETSTREIT’s payout ratio is presently 933.33%.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on NTST. Scotiabank decreased their target price on shares of NETSTREIT from $18.00 to $16.00 and set a “sector perform” rating for the company in a research report on Wednesday, August 7th. 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 report on Wednesday, August 21st. Finally, Wedbush began coverage on shares of NETSTREIT in a research report on Monday, August 19th. They issued a “neutral” rating and a $17.00 price objective for the company. One analyst has rated the stock with a sell rating, four have assigned a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $17.88.

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.