Ghisallo Capital Management LLC Sells 25,000 Shares of NETSTREIT Corp. (NYSE:NTST)

Ghisallo Capital Management LLC decreased its position in NETSTREIT Corp. (NYSE:NTST) by 50.0% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 25,000 shares of the company’s stock after selling 25,000 shares during the quarter. Ghisallo Capital Management LLC’s holdings in NETSTREIT were worth $402,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Parallel Advisors LLC increased its stake in NETSTREIT by 702.3% in the 4th quarter. Parallel Advisors LLC now owns 3,442 shares of the company’s stock valued at $61,000 after buying an additional 3,013 shares during the last quarter. Lighthouse Investment Partners LLC grew its stake in NETSTREIT by 10.0% in the 4th quarter. Lighthouse Investment Partners LLC now owns 385,000 shares of the company’s stock valued at $6,872,000 after purchasing an additional 35,000 shares during the period. Cohen & Steers Inc. raised its stake in shares of NETSTREIT by 4.3% during the 4th quarter. Cohen & Steers Inc. now owns 9,344,847 shares of the company’s stock worth $166,806,000 after purchasing an additional 383,240 shares during the period. Heitman Real Estate Securities LLC raised its position in NETSTREIT by 4.5% in the fourth quarter. Heitman Real Estate Securities LLC now owns 2,370,476 shares of the company’s stock worth $42,313,000 after acquiring an additional 103,006 shares during the period. Finally, Teachers Retirement System of The State of Kentucky grew its position in shares of NETSTREIT by 50.9% during the 4th quarter. Teachers Retirement System of The State of Kentucky now owns 102,226 shares of the company’s stock valued at $1,825,000 after acquiring an additional 34,469 shares during the period.

Wall Street Analyst Weigh In

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

NETSTREIT Price Performance

Shares of NYSE:NTST opened at $16.44 on Wednesday. NETSTREIT Corp. has a 12 month low of $13.49 and a 12 month high of $18.97. The company has a current ratio of 4.08, a quick ratio of 4.08 and a debt-to-equity ratio of 0.55. The stock has a market cap of $1.21 billion, a P/E ratio of 182.61 and a beta of 0.97. The company has a 50 day moving average of $16.47 and a 200 day moving average of $16.90.

NETSTREIT (NYSE:NTST) last issued its quarterly earnings data on Monday, July 29th. The company reported ($0.03) EPS 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 business had revenue of $39.57 million for the quarter, compared to analysts’ expectations of $39.31 million. During the same period in the previous year, the firm posted $0.30 EPS. As a group, sell-side analysts forecast that NETSTREIT Corp. will post 1.19 EPS for the current fiscal year.

NETSTREIT Increases Dividend

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

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.