JPMorgan Chase & Co. Increases Stake in NETSTREIT Corp. (NYSE:NTST)

JPMorgan Chase & Co. grew its position in NETSTREIT Corp. (NYSE:NTST) by 173.9% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 569,527 shares of the company’s stock after acquiring an additional 361,577 shares during the period. JPMorgan Chase & Co. owned about 0.70% of NETSTREIT worth $9,414,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Rhumbline Advisers increased its position in shares of NETSTREIT by 10.2% in the second quarter. Rhumbline Advisers now owns 126,929 shares of the company’s stock valued at $2,044,000 after buying an additional 11,765 shares in the last quarter. Arizona State Retirement System raised its position in NETSTREIT by 8.6% during the second quarter. Arizona State Retirement System now owns 20,498 shares of the company’s stock worth $330,000 after acquiring an additional 1,617 shares during the last quarter. Quest Partners LLC purchased a new stake in shares of NETSTREIT in the second quarter valued at about $202,000. American Century Companies Inc. grew its position in shares of NETSTREIT by 12.5% in the second quarter. American Century Companies Inc. now owns 23,619 shares of the company’s stock valued at $380,000 after purchasing an additional 2,624 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale increased its stake in shares of NETSTREIT by 68.9% during the 2nd quarter. DekaBank Deutsche Girozentrale now owns 126,922 shares of the company’s stock worth $2,027,000 after purchasing an additional 51,767 shares in the last quarter.

NETSTREIT Stock Performance

NTST stock opened at $13.79 on Tuesday. The stock’s fifty day moving average is $15.08 and its two-hundred day moving average is $15.89. The stock has a market capitalization of $1.13 billion, a price-to-earnings ratio of -229.80 and a beta of 1.00. The company has a debt-to-equity ratio of 0.57, a quick ratio of 4.11 and a current ratio of 4.11. NETSTREIT Corp. has a 1 year low of $13.42 and a 1 year high of $18.97.

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 analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $41.10 million. During the same quarter last year, the firm posted $0.31 EPS. On average, research analysts predict that NETSTREIT Corp. will post 1.19 EPS for the current year.

NETSTREIT Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, December 13th. Investors of record on Monday, December 2nd were paid a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 6.09%. The ex-dividend date of this dividend was Monday, December 2nd. NETSTREIT’s dividend payout ratio is presently -1,400.00%.

Analyst Upgrades and Downgrades

A number of analysts recently commented on NTST shares. Scotiabank upgraded NETSTREIT from a “sector perform” rating to a “sector outperform” rating and lifted their price objective for the stock from $16.00 to $18.00 in a research report on Monday, November 11th. Mizuho cut their price objective on shares of NETSTREIT from $17.00 to $15.00 and set an “outperform” rating for the company in a research report on Wednesday, January 8th. Truist Financial decreased their target price on shares of NETSTREIT from $20.00 to $19.00 and set a “buy” rating on the stock in a research report on Thursday, December 5th. UBS Group started coverage on NETSTREIT in a report on Monday, October 14th. They issued a “buy” rating and a $19.00 price target for the company. Finally, Stifel Nicolaus lowered their price objective on NETSTREIT from $19.50 to $19.25 and set a “buy” rating for the company in a research report on Tuesday, November 5th. Two analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, NETSTREIT has an average rating of “Moderate Buy” and a consensus target price of $18.04.

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.