Millennium Management LLC Has $42.92 Million Stake in NETSTREIT Corp. (NYSE:NTST)

Millennium Management LLC decreased its holdings in shares of NETSTREIT Corp. (NYSE:NTST) by 12.9% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,666,024 shares of the company’s stock after selling 395,105 shares during the quarter. Millennium Management LLC owned approximately 3.63% of NETSTREIT worth $42,923,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the business. Employees Retirement System of Texas acquired a new position in NETSTREIT during the second quarter worth $1,932,000. APG Asset Management US Inc. lifted its stake in NETSTREIT by 5.6% in the second quarter. APG Asset Management US Inc. now owns 1,520,236 shares of the company’s stock valued at $24,597,000 after acquiring an additional 80,553 shares during the last quarter. AQR Capital Management LLC lifted its stake in NETSTREIT by 11.8% in the second quarter. AQR Capital Management LLC now owns 25,075 shares of the company’s stock valued at $404,000 after acquiring an additional 2,656 shares during the last quarter. Squarepoint Ops LLC lifted its stake in NETSTREIT by 402.4% in the second quarter. Squarepoint Ops LLC now owns 54,473 shares of the company’s stock valued at $877,000 after acquiring an additional 43,630 shares during the last quarter. Finally, Cubist Systematic Strategies LLC lifted its stake in NETSTREIT by 5,699.7% in the second quarter. Cubist Systematic Strategies LLC now owns 146,616 shares of the company’s stock valued at $2,361,000 after acquiring an additional 144,088 shares during the last quarter.

NETSTREIT Price Performance

NTST stock opened at $16.44 on Wednesday. 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 Corp. has a 12 month low of $13.49 and a 12 month high of $18.97. The firm has a market cap of $1.21 billion, a P/E ratio of 182.61 and a beta of 0.97. The company’s 50-day moving average price is $16.47 and its two-hundred day moving average price is $16.90.

NETSTREIT (NYSE:NTST) last released its earnings results 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 net margin of 3.32% and a return on equity of 0.39%. The firm had revenue of $39.57 million during the quarter, compared to the consensus estimate of $39.31 million. During the same period in the prior year, the business earned $0.30 earnings per share. On average, analysts anticipate that NETSTREIT Corp. will post 1.19 earnings per share for the current fiscal year.

NETSTREIT Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Tuesday, September 3rd were paid a $0.21 dividend. 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 dividend yield of 5.11%. The ex-dividend date of this dividend was Tuesday, September 3rd. NETSTREIT’s dividend payout ratio (DPR) is presently 933.33%.

Analysts Set New Price Targets

NTST has been the subject of a number of recent analyst reports. Scotiabank cut their price target 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. Raymond James upgraded shares of NETSTREIT from an “outperform” rating to a “strong-buy” rating and cut their target price for the stock from $20.00 to $19.00 in a research note on Wednesday, August 21st. Finally, Wedbush began coverage on shares of NETSTREIT in a research note on Monday, August 19th. They set a “neutral” rating and a $17.00 target price for the company. One analyst has rated the stock with a sell rating, four have given a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $17.88.

NETSTREIT 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.