Connor Clark & Lunn Investment Management Ltd. Invests $1.56 Million in NETSTREIT Corp. (NYSE:NTST)

Connor Clark & Lunn Investment Management Ltd. bought a new stake in NETSTREIT Corp. (NYSE:NTST) in the 3rd quarter, HoldingsChannel.com reports. The firm bought 94,574 shares of the company’s stock, valued at approximately $1,563,000.

A number of other hedge funds have also recently added to or reduced their stakes in NTST. Vanguard Group Inc. raised its position in shares of NETSTREIT by 8.3% in the first quarter. Vanguard Group Inc. now owns 7,352,295 shares of the company’s stock worth $135,062,000 after acquiring an additional 566,513 shares during the period. Sumitomo Mitsui Trust Group Inc. boosted its position in NETSTREIT by 1,931.7% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,615,264 shares of the company’s stock worth $26,700,000 after purchasing an additional 1,535,761 shares in the last quarter. APG Asset Management US Inc. grew its holdings in 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 purchasing an additional 80,553 shares during the period. Marshall Wace LLP increased its position in shares of NETSTREIT by 42.4% in the second quarter. Marshall Wace LLP now owns 1,009,106 shares of the company’s stock valued at $16,247,000 after buying an additional 300,481 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its position in shares of NETSTREIT by 7.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 409,904 shares of the company’s stock valued at $6,599,000 after buying an additional 28,222 shares in the last quarter.

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. UBS Group initiated coverage on shares of NETSTREIT in a report on Monday, October 14th. They issued a “buy” rating and a $19.00 price target for the company. Scotiabank raised shares of NETSTREIT from a “sector perform” rating to a “sector outperform” rating and raised their price target for the company from $16.00 to $18.00 in a research note on Monday, November 11th. Wedbush assumed coverage on NETSTREIT in a report on Monday, August 19th. They issued a “neutral” rating and a $17.00 price objective on the stock. Raymond James raised NETSTREIT from an “outperform” rating to a “strong-buy” rating and reduced their target price for the company from $20.00 to $19.00 in a report on Wednesday, August 21st. Finally, Stifel Nicolaus lowered their price target on NETSTREIT from $19.50 to $19.25 and set a “buy” rating on the stock in a research note on Tuesday, November 5th. Three investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $18.23.

NETSTREIT Price Performance

NTST stock opened at $16.23 on Wednesday. NETSTREIT Corp. has a 1 year low of $15.02 and a 1 year high of $18.97. The firm has a market capitalization of $1.32 billion, a PE ratio of -270.37 and a beta of 0.97. The company has a debt-to-equity ratio of 0.57, a current ratio of 4.11 and a quick ratio of 4.11. The business has a 50 day simple moving average of $15.99 and a 200-day simple moving average of $16.48.

NETSTREIT (NYSE:NTST) last issued its 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 company had revenue of $41.44 million during the quarter, compared to analyst estimates of $41.10 million. During the same period last year, the business earned $0.31 earnings per share. Equities research analysts anticipate that NETSTREIT Corp. will post 1.19 earnings per share for the current fiscal year.

NETSTREIT Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Monday, December 2nd will be paid a $0.21 dividend. The ex-dividend date is Monday, December 2nd. This represents a $0.84 annualized dividend and a dividend yield of 5.18%. NETSTREIT’s dividend payout ratio (DPR) is -1,399.77%.

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.