NETSTREIT (NYSE:NTST) Sees Large Volume Increase

NETSTREIT Corp. (NYSE:NTST) saw unusually-strong trading volume on Monday . Approximately 863,536 shares were traded during trading, a decline of 13% from the previous session’s volume of 990,802 shares.The stock last traded at $16.62 and had previously closed at $16.26.

Wall Street Analyst Weigh In

Several research analysts recently commented on the stock. Scotiabank reduced their price objective on shares of NETSTREIT from $18.00 to $16.00 and set a “sector perform” rating for the company in a research note on Wednesday, August 7th. Wedbush started coverage on NETSTREIT in a report on Monday, August 19th. They set a “neutral” rating and a $17.00 price objective for the company. Finally, Raymond James upgraded NETSTREIT from an “outperform” rating to a “strong-buy” rating and dropped their target price for the stock from $20.00 to $19.00 in a research note on Wednesday, August 21st. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, NETSTREIT currently has a consensus rating of “Moderate Buy” and an average price target of $17.88.

NETSTREIT Price Performance

The stock has a fifty day moving average of $16.57 and a 200 day moving average of $16.94. The company has a debt-to-equity ratio of 0.55, a current ratio of 4.08 and a quick ratio of 4.08. The stock has a market cap of $1.20 billion, a price-to-earnings ratio of 180.67 and a beta of 0.97.

NETSTREIT (NYSE:NTST) last issued its earnings results on Monday, July 29th. The company reported ($0.03) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.30 by ($0.33). The business had revenue of $39.57 million for the quarter, compared to analysts’ expectations of $39.31 million. NETSTREIT had a return on equity of 0.39% and a net margin of 3.32%. During the same period last year, the business earned $0.30 EPS. On average, analysts expect that NETSTREIT Corp. will post 1.19 EPS for the current fiscal year.

NETSTREIT Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Tuesday, September 3rd were issued a $0.21 dividend. The ex-dividend date was Tuesday, September 3rd. This is an increase from NETSTREIT’s previous quarterly dividend of $0.21. This represents a $0.84 dividend on an annualized basis and a yield of 5.12%. NETSTREIT’s payout ratio is presently 933.33%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in NTST. Long Pond Capital LP lifted its position in shares of NETSTREIT by 235.2% during the 1st quarter. Long Pond Capital LP now owns 5,967,437 shares of the company’s stock valued at $109,622,000 after buying an additional 4,187,438 shares in the last quarter. Russell Investments Group Ltd. increased its stake in shares of NETSTREIT by 64.9% during the first quarter. Russell Investments Group Ltd. now owns 1,593,752 shares of the company’s stock worth $29,277,000 after purchasing an additional 627,514 shares in the last quarter. Vanguard Group Inc. raised its position in shares of NETSTREIT by 8.3% during the 1st quarter. Vanguard Group Inc. now owns 7,352,295 shares of the company’s stock worth $135,062,000 after purchasing an additional 566,513 shares during the last quarter. Cohen & Steers Inc. lifted its stake in NETSTREIT by 4.3% in the 4th quarter. Cohen & Steers Inc. now owns 9,344,847 shares of the company’s stock valued at $166,806,000 after buying an additional 383,240 shares in the last quarter. Finally, Marshall Wace LLP boosted its holdings in NETSTREIT by 42.4% in the 2nd quarter. Marshall Wace LLP now owns 1,009,106 shares of the company’s stock worth $16,247,000 after buying an additional 300,481 shares during the last quarter.

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.