Zurcher Kantonalbank Zurich Cantonalbank Increases Stake in NETSTREIT Corp. (NYSE:NTST)

Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in NETSTREIT Corp. (NYSE:NTST) by 10.2% in the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 25,581 shares of the company’s stock after purchasing an additional 2,373 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in NETSTREIT were worth $412,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in NTST. Parallel Advisors LLC boosted its stake in shares of NETSTREIT by 702.3% in the 4th quarter. Parallel Advisors LLC now owns 3,442 shares of the company’s stock valued at $61,000 after purchasing an additional 3,013 shares in the last quarter. Quadrant Capital Group LLC boosted its position in NETSTREIT by 204.9% during the 4th quarter. Quadrant Capital Group LLC now owns 8,361 shares of the company’s stock valued at $149,000 after buying an additional 5,619 shares during the period. Van ECK Associates Corp boosted its position in NETSTREIT by 22.7% during the 4th quarter. Van ECK Associates Corp now owns 9,694 shares of the company’s stock valued at $173,000 after buying an additional 1,796 shares during the period. ProShare Advisors LLC boosted its position in NETSTREIT by 8.5% during the 1st quarter. ProShare Advisors LLC now owns 12,434 shares of the company’s stock valued at $228,000 after buying an additional 977 shares during the period. Finally, SG Americas Securities LLC purchased a new stake in NETSTREIT during the 2nd quarter valued at $316,000.

NETSTREIT Stock Up 0.5 %

Shares of NETSTREIT stock opened at $16.87 on Friday. The company has a debt-to-equity ratio of 0.55, a current ratio of 4.08 and a quick ratio of 4.08. The company has a 50-day moving average of $16.45 and a 200 day moving average of $16.96. The firm has a market cap of $1.24 billion, a price-to-earnings ratio of 187.44 and a beta of 0.97. NETSTREIT Corp. has a 1 year low of $13.49 and a 1 year high of $18.97.

NETSTREIT (NYSE:NTST) last issued its quarterly earnings results on Monday, July 29th. The company reported ($0.03) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.30 by ($0.33). The business had revenue of $39.57 million during the quarter, compared to the consensus estimate of $39.31 million. NETSTREIT had a return on equity of 0.39% and a net margin of 3.32%. During the same quarter in the previous year, the business earned $0.30 earnings per share. As a group, sell-side analysts anticipate that NETSTREIT Corp. will post 1.19 earnings per share for the current fiscal year.

NETSTREIT Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 13th. Investors of record on Tuesday, September 3rd will be paid a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 4.98%. This is a positive change from NETSTREIT’s previous quarterly dividend of $0.21. The ex-dividend date of this dividend is Tuesday, September 3rd. NETSTREIT’s dividend payout ratio (DPR) is presently 933.33%.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the stock. Wedbush assumed coverage on shares of NETSTREIT in a research report on Monday, August 19th. They set a “neutral” rating and a $17.00 price target for the company. Raymond James raised shares of NETSTREIT from an “outperform” rating to a “strong-buy” rating and dropped their price target for the company from $20.00 to $19.00 in a research report on Wednesday, August 21st. Finally, Scotiabank dropped their price target on shares of NETSTREIT from $18.00 to $16.00 and set a “sector perform” rating for the company in a research report on Wednesday, August 7th. One research analyst has rated the stock with a sell rating, four have given a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $17.88.

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.