Dark Forest Capital Management LP Sells 31,625 Shares of NETSTREIT Corp. (NYSE:NTST)

Dark Forest Capital Management LP trimmed its position in shares of NETSTREIT Corp. (NYSE:NTST) by 41.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 44,265 shares of the company’s stock after selling 31,625 shares during the quarter. Dark Forest Capital Management LP owned approximately 0.06% of NETSTREIT worth $713,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Employees Retirement System of Texas acquired a new stake in NETSTREIT during the 2nd quarter worth approximately $1,932,000. APG Asset Management US Inc. raised its stake in shares of NETSTREIT by 5.6% during 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 holdings in shares of NETSTREIT by 11.8% during the second quarter. AQR Capital Management LLC now owns 25,075 shares of the company’s stock worth $404,000 after purchasing an additional 2,656 shares during the period. Squarepoint Ops LLC lifted its holdings in shares of NETSTREIT by 402.4% during the second quarter. Squarepoint Ops LLC now owns 54,473 shares of the company’s stock worth $877,000 after purchasing an additional 43,630 shares during the period. Finally, Cubist Systematic Strategies LLC grew its stake in shares of NETSTREIT by 5,699.7% in the second quarter. Cubist Systematic Strategies LLC now owns 146,616 shares of the company’s stock worth $2,361,000 after purchasing an additional 144,088 shares during the last quarter.

NETSTREIT Price Performance

NTST stock opened at $16.37 on Friday. NETSTREIT Corp. has a 1 year low of $13.49 and a 1 year high of $18.97. The stock has a market capitalization of $1.27 billion, a PE ratio of 181.85 and a beta of 0.97. The company’s 50-day moving average is $16.51 and its 200-day moving average is $16.92. The company has a debt-to-equity ratio of 0.55, a current ratio of 4.08 and a quick ratio of 4.08.

NETSTREIT (NYSE:NTST) last announced 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). NETSTREIT had a net margin of 3.32% and a return on equity of 0.39%. The business had revenue of $39.57 million for the quarter, compared to the consensus estimate of $39.31 million. During the same quarter last year, the firm posted $0.30 EPS. Equities research analysts expect that NETSTREIT Corp. will post 1.19 EPS for the current fiscal 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 dividend of $0.21 per share. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $0.84 annualized dividend and a yield of 5.13%. This is an increase from NETSTREIT’s previous quarterly dividend of $0.21. NETSTREIT’s dividend payout ratio is 933.44%.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on NTST shares. Raymond James raised NETSTREIT from an “outperform” rating to a “strong-buy” rating and lowered their target price for the stock from $20.00 to $19.00 in a research report on Wednesday, August 21st. Wedbush assumed coverage on NETSTREIT in a research note on Monday, August 19th. They issued a “neutral” rating and a $17.00 price objective on the stock. Finally, Scotiabank reduced their target price on NETSTREIT from $18.00 to $16.00 and set a “sector perform” rating on the stock in a report on Wednesday, August 7th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price 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.