Quarry LP Makes New Investment in NETSTREIT Corp. (NYSE:NTST)

Quarry LP purchased a new stake in shares of NETSTREIT Corp. (NYSE:NTST) in the second quarter, according to its most recent 13F filing with the SEC. The fund purchased 2,820 shares of the company’s stock, valued at approximately $45,000.

A number of other hedge funds have also recently made changes to their positions in the company. Point72 DIFC Ltd bought a new position in shares of NETSTREIT in the second quarter worth approximately $83,000. Van ECK Associates Corp increased its holdings in shares of NETSTREIT by 13.7% in the 2nd quarter. Van ECK Associates Corp now owns 11,280 shares of the company’s stock worth $182,000 after buying an additional 1,359 shares during the last quarter. Quest Partners LLC purchased a new stake in shares of NETSTREIT during the 2nd quarter valued at $202,000. ProShare Advisors LLC lifted its holdings in shares of NETSTREIT by 8.5% during the 1st quarter. ProShare Advisors LLC now owns 12,434 shares of the company’s stock worth $228,000 after acquiring an additional 977 shares during the last quarter. Finally, SG Americas Securities LLC purchased a new position in NETSTREIT in the second quarter worth $316,000.

NETSTREIT Stock Down 2.7 %

Shares of NETSTREIT stock opened at $15.61 on Friday. The company’s 50 day moving average price is $16.42 and its 200-day moving average price is $16.88. NETSTREIT Corp. has a 52-week low of $13.49 and a 52-week high of $18.97. The company has a debt-to-equity ratio of 0.55, a quick ratio of 4.08 and a current ratio of 4.08. The stock has a market capitalization of $1.15 billion, a price-to-earnings ratio of 173.44 and a beta of 0.96.

NETSTREIT (NYSE:NTST) last released its quarterly earnings results on Monday, July 29th. The company reported ($0.03) EPS for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.33). The business had revenue of $39.57 million for the quarter, compared to the consensus estimate of $39.31 million. NETSTREIT had a net margin of 3.32% and a return on equity of 0.39%. During the same period in the previous year, the company earned $0.30 EPS. Equities research analysts forecast that NETSTREIT Corp. will post 1.19 EPS for the current year.

NETSTREIT Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Tuesday, September 3rd were issued a $0.21 dividend. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $0.84 annualized dividend and a yield of 5.38%. This is a boost from NETSTREIT’s previous quarterly dividend of $0.21. NETSTREIT’s payout ratio is 933.33%.

Wall Street Analysts Forecast Growth

NTST has been the topic of a number of research reports. Wedbush started coverage on NETSTREIT in a research report on Monday, August 19th. They set a “neutral” rating and a $17.00 price target on the stock. Scotiabank decreased their price objective on NETSTREIT from $18.00 to $16.00 and set a “sector perform” rating on the stock in a report on Wednesday, August 7th. Finally, Raymond James raised 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. One research analyst has rated the stock with a sell rating, four have given a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target 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.