Geode Capital Management LLC Boosts Stock Position in NETSTREIT Corp. (NYSE:NTST)

Geode Capital Management LLC grew its holdings in NETSTREIT Corp. (NYSE:NTST) by 6.0% in the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 1,980,800 shares of the company’s stock after buying an additional 112,047 shares during the quarter. Geode Capital Management LLC owned approximately 2.43% of NETSTREIT worth $32,748,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in NTST. Sumitomo Mitsui Trust Group Inc. lifted its stake in NETSTREIT by 1,931.7% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,615,264 shares of the company’s stock worth $26,700,000 after acquiring an additional 1,535,761 shares during the period. Vestcor Inc purchased a new stake in shares of NETSTREIT in the 3rd quarter worth about $913,000. Charles Schwab Investment Management Inc. boosted its stake in shares of NETSTREIT by 9.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,078,174 shares of the company’s stock valued at $17,822,000 after purchasing an additional 95,433 shares in the last quarter. GSA Capital Partners LLP increased its position in shares of NETSTREIT by 107.8% during the third quarter. GSA Capital Partners LLP now owns 149,651 shares of the company’s stock valued at $2,474,000 after buying an additional 77,647 shares during the period. Finally, abrdn plc raised its stake in NETSTREIT by 15.1% in the third quarter. abrdn plc now owns 15,331 shares of the company’s stock worth $253,000 after buying an additional 2,017 shares in the last quarter.

Analysts Set New Price Targets

NTST has been the subject of several research reports. Truist Financial decreased their target price on NETSTREIT from $20.00 to $19.00 and set a “buy” rating for the company in a research report on Thursday, December 5th. UBS Group started coverage on NETSTREIT in a research report on Monday, October 14th. They set a “buy” rating and a $19.00 price objective for the company. Scotiabank raised shares of NETSTREIT from a “sector perform” rating to a “sector outperform” rating and upped their target price for the stock from $16.00 to $18.00 in a research report on Monday, November 11th. Finally, Stifel Nicolaus decreased their target price on shares of NETSTREIT from $19.50 to $19.25 and set a “buy” rating for the company in a research note on Tuesday, November 5th. Two investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $19.03.

NETSTREIT Price Performance

Shares of NYSE NTST opened at $14.11 on Thursday. The firm has a market cap of $1.15 billion, a P/E ratio of -235.13 and a beta of 0.97. NETSTREIT Corp. has a twelve month low of $13.80 and a twelve month high of $18.97. The company has a quick ratio of 4.11, a current ratio of 4.11 and a debt-to-equity ratio of 0.57. The company has a 50 day moving average of $15.58 and a 200 day moving average of $16.16.

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

NETSTREIT Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, December 13th. Stockholders of record on Monday, December 2nd were issued a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 5.95%. The ex-dividend date was Monday, December 2nd. NETSTREIT’s payout ratio is presently -1,400.00%.

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.