MQS Management LLC Invests $337,000 in NETSTREIT Corp. (NYSE:NTST)

MQS Management LLC acquired a new position in NETSTREIT Corp. (NYSE:NTST) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 20,940 shares of the company’s stock, valued at approximately $337,000.

Several other large investors have also added to or reduced their stakes in NTST. Hsbc Holdings PLC raised its holdings in NETSTREIT by 23.7% during the second quarter. Hsbc Holdings PLC now owns 56,125 shares of the company’s stock worth $902,000 after acquiring an additional 10,769 shares in the last quarter. DekaBank Deutsche Girozentrale boosted its holdings in shares of NETSTREIT by 68.9% in the 2nd quarter. DekaBank Deutsche Girozentrale now owns 126,922 shares of the company’s stock valued at $2,027,000 after buying an additional 51,767 shares during the last quarter. American Century Companies Inc. grew its stake in shares of NETSTREIT by 12.5% in the second quarter. American Century Companies Inc. now owns 23,619 shares of the company’s stock valued at $380,000 after buying an additional 2,624 shares in the last quarter. Quest Partners LLC acquired a new position in NETSTREIT during the second quarter worth $202,000. Finally, Arizona State Retirement System raised its position in NETSTREIT by 8.6% during the second quarter. Arizona State Retirement System now owns 20,498 shares of the company’s stock worth $330,000 after acquiring an additional 1,617 shares in the last quarter.

NETSTREIT Stock Down 1.0 %

NETSTREIT stock opened at $16.26 on Friday. NETSTREIT Corp. has a twelve month low of $13.49 and a twelve month high of $18.97. The stock has a market cap of $1.19 billion, a P/E ratio of 180.67 and a beta of 0.97. The company’s 50-day moving average price is $16.57 and its two-hundred day moving average price is $16.94. 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 released its quarterly earnings results on Monday, July 29th. The company reported ($0.03) earnings per share for the quarter, missing the consensus estimate of $0.30 by ($0.33). NETSTREIT had a return on equity of 0.39% and a net margin of 3.32%. The firm had revenue of $39.57 million for the quarter, compared to analyst estimates of $39.31 million. During the same period in the previous year, the business posted $0.30 earnings per share. As a group, analysts expect that NETSTREIT Corp. will post 1.19 EPS for the current year.

NETSTREIT Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Tuesday, September 3rd were given a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 5.17%. This is a positive change from NETSTREIT’s previous quarterly dividend of $0.21. The ex-dividend date was Tuesday, September 3rd. NETSTREIT’s dividend payout ratio (DPR) is currently 933.33%.

Analyst Ratings Changes

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

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.