US Bancorp DE Sells 1,086 Shares of NETSTREIT Corp. (NYSE:NTST)

US Bancorp DE lowered its holdings in NETSTREIT Corp. (NYSE:NTST) by 39.0% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,696 shares of the company’s stock after selling 1,086 shares during the period. US Bancorp DE’s holdings in NETSTREIT were worth $28,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. Swiss National Bank lifted its position in shares of NETSTREIT by 2.7% during the 1st quarter. Swiss National Bank now owns 135,600 shares of the company’s stock valued at $2,491,000 after acquiring an additional 3,600 shares during the period. ProShare Advisors LLC raised its stake in NETSTREIT by 8.5% in the first quarter. ProShare Advisors LLC now owns 12,434 shares of the company’s stock valued at $228,000 after purchasing an additional 977 shares in the last quarter. Vanguard Group Inc. lifted its position in NETSTREIT by 8.3% during the first 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 period. CANADA LIFE ASSURANCE Co grew its stake in NETSTREIT by 10.3% during the first quarter. CANADA LIFE ASSURANCE Co now owns 89,333 shares of the company’s stock worth $1,641,000 after buying an additional 8,317 shares in the last quarter. Finally, Long Pond Capital LP increased its holdings in NETSTREIT by 235.2% in 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 during the period.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on NTST. Raymond James raised NETSTREIT from an “outperform” rating to a “strong-buy” rating and reduced their price objective for the company from $20.00 to $19.00 in a research note on Wednesday, August 21st. Scotiabank upgraded shares of NETSTREIT from a “sector perform” rating to a “sector outperform” rating and raised their price target for the company from $16.00 to $18.00 in a research note on Monday, November 11th. UBS Group assumed coverage on shares of NETSTREIT in a research report on Monday, October 14th. They set a “buy” rating and a $19.00 price objective for the company. Wedbush assumed coverage on shares of NETSTREIT in a research report on Monday, August 19th. They issued a “neutral” rating and a $17.00 target price on the stock. Finally, Stifel Nicolaus lowered their price target on shares of NETSTREIT from $19.50 to $19.25 and set a “buy” rating for the company in a report on Tuesday, November 5th. Three research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, NETSTREIT currently has a consensus rating of “Moderate Buy” and a consensus price target of $18.30.

NETSTREIT Stock Performance

NETSTREIT stock opened at $15.68 on Tuesday. The company has a current ratio of 4.11, a quick ratio of 4.11 and a debt-to-equity ratio of 0.57. The firm has a market cap of $1.28 billion, a P/E ratio of -261.29 and a beta of 0.97. NETSTREIT Corp. has a 1-year low of $15.02 and a 1-year high of $18.97. The firm has a 50-day moving average of $16.09 and a 200-day moving average of $16.54.

NETSTREIT (NYSE:NTST) last announced its quarterly earnings results on Monday, November 4th. The company reported ($0.07) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.30 by ($0.37). The company had revenue of $41.44 million for the quarter, compared to analysts’ expectations of $41.10 million. NETSTREIT had a negative net margin of 2.96% and a negative return on equity of 0.35%. During the same quarter in the prior year, the firm earned $0.31 EPS. Sell-side analysts expect that NETSTREIT Corp. will post 1.19 EPS for the current year.

NETSTREIT Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Monday, December 2nd will be issued a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 5.36%. The ex-dividend date of this dividend is Monday, December 2nd. NETSTREIT’s dividend payout ratio is -1,399.77%.

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.