NETSTREIT Corp. (NYSE:NTST) Shares Purchased by AQR Capital Management LLC

AQR Capital Management LLC increased its holdings in shares of NETSTREIT Corp. (NYSE:NTST) by 11.8% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 25,075 shares of the company’s stock after acquiring an additional 2,656 shares during the period. AQR Capital Management LLC’s holdings in NETSTREIT were worth $404,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Point72 DIFC Ltd acquired a new stake in NETSTREIT in the 2nd quarter worth about $83,000. Van ECK Associates Corp boosted its holdings in 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 acquired a new stake in NETSTREIT in the 2nd quarter worth about $202,000. ProShare Advisors LLC boosted its holdings in NETSTREIT by 8.5% in the 1st quarter. ProShare Advisors LLC now owns 12,434 shares of the company’s stock worth $228,000 after buying an additional 977 shares during the last quarter. Finally, SG Americas Securities LLC acquired a new stake in NETSTREIT in the 2nd quarter worth about $316,000.

NETSTREIT Price Performance

Shares of NTST stock opened at $16.30 on Wednesday. The firm has a market cap of $1.20 billion, a P/E ratio of 181.11 and a beta of 0.96. 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 Corp. has a 1-year low of $13.49 and a 1-year high of $18.97. The firm has a fifty day moving average of $16.35 and a two-hundred day moving average of $16.77.

NETSTREIT (NYSE:NTST) last posted its earnings results on Monday, July 29th. The company reported ($0.03) earnings per share (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 firm had revenue of $39.57 million for the quarter, compared to analyst estimates of $39.31 million. During the same period in the previous year, the firm earned $0.30 earnings per share. As a group, research analysts anticipate that NETSTREIT Corp. will post 1.19 earnings per share for the current fiscal year.

NETSTREIT Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Tuesday, September 3rd were given a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 5.15%. The ex-dividend date was Tuesday, September 3rd. This is an increase from NETSTREIT’s previous quarterly dividend of $0.21. NETSTREIT’s dividend payout ratio is 933.33%.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on NTST. Raymond James upgraded 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 report on Wednesday, August 21st. Scotiabank lowered 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. UBS Group began coverage on NETSTREIT in a report on Monday. They set a “buy” rating and a $19.00 target price on the stock. Finally, Wedbush began coverage on NETSTREIT in a report on Monday, August 19th. They set a “neutral” rating and a $17.00 target price on the stock. Four research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $17.98.

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.