10,481 Shares in NETSTREIT Corp. (NYSE:NTST) Bought by Sanctuary Advisors LLC

Sanctuary Advisors LLC bought a new stake in NETSTREIT Corp. (NYSE:NTST) during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 10,481 shares of the company’s stock, valued at approximately $169,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the company. State Street Corp boosted its holdings in shares of NETSTREIT by 2.9% in the third quarter. State Street Corp now owns 3,104,081 shares of the company’s stock valued at $51,310,000 after acquiring an additional 87,669 shares in the last quarter. Rush Island Management LP boosted its stake in NETSTREIT by 18.0% during the 3rd quarter. Rush Island Management LP now owns 2,364,964 shares of the company’s stock valued at $39,093,000 after purchasing an additional 359,993 shares in the last quarter. Geode Capital Management LLC increased its position in shares of NETSTREIT by 6.0% during the 3rd quarter. Geode Capital Management LLC now owns 1,980,800 shares of the company’s stock valued at $32,748,000 after purchasing an additional 112,047 shares during the period. Sumitomo Mitsui Trust Group Inc. raised its stake in shares of NETSTREIT by 1,931.7% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,615,264 shares of the company’s stock worth $26,700,000 after buying an additional 1,535,761 shares in the last quarter. Finally, APG Asset Management US Inc. lifted its holdings in shares of NETSTREIT by 5.6% in 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 buying an additional 80,553 shares during the period.

NETSTREIT Stock Performance

NETSTREIT stock opened at $13.95 on Tuesday. NETSTREIT Corp. has a 52 week low of $13.74 and a 52 week high of $18.97. The company has a debt-to-equity ratio of 0.57, a quick ratio of 4.11 and a current ratio of 4.11. The firm has a market capitalization of $1.14 billion, a price-to-earnings ratio of -232.46 and a beta of 0.97. The company has a 50 day moving average price of $15.48 and a 200 day moving average price of $16.12.

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

NETSTREIT Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, December 13th. Stockholders of record on Monday, December 2nd were paid a dividend of $0.21 per share. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $0.84 annualized dividend and a dividend yield of 6.02%. NETSTREIT’s dividend payout ratio (DPR) is -1,400.00%.

Wall Street Analyst Weigh In

NTST has been the topic of several research reports. Truist Financial dropped their price target 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. Scotiabank upgraded shares of NETSTREIT from a “sector perform” rating to a “sector outperform” rating and boosted their target price for the stock from $16.00 to $18.00 in a report on Monday, November 11th. UBS Group started coverage on shares of NETSTREIT in a research report on Monday, October 14th. They issued a “buy” rating and a $19.00 price target on the stock. Finally, Stifel Nicolaus cut 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 equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, NETSTREIT has an average rating of “Moderate Buy” and an average target price of $19.03.

About NETSTREIT

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.