Quest Partners LLC Purchases Shares of 12,517 NETSTREIT Corp. (NYSE:NTST)

Quest Partners LLC acquired a new position in shares of NETSTREIT Corp. (NYSE:NTST) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 12,517 shares of the company’s stock, valued at approximately $202,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Cohen & Steers Inc. increased its position in NETSTREIT by 4.3% during the fourth quarter. Cohen & Steers Inc. now owns 9,344,847 shares of the company’s stock worth $166,806,000 after purchasing an additional 383,240 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of NETSTREIT by 8.3% during the 1st quarter. Vanguard Group Inc. now owns 7,352,295 shares of the company’s stock valued at $135,062,000 after buying an additional 566,513 shares during the period. Long Pond Capital LP increased its holdings in shares of NETSTREIT by 235.2% during the 1st quarter. Long Pond Capital LP now owns 5,967,437 shares of the company’s stock worth $109,622,000 after buying an additional 4,187,438 shares during the last quarter. Wellington Management Group LLP raised its position in shares of NETSTREIT by 2.6% in the 4th quarter. Wellington Management Group LLP now owns 2,743,007 shares of the company’s stock worth $48,963,000 after buying an additional 69,005 shares during the period. Finally, Heitman Real Estate Securities LLC boosted its holdings in NETSTREIT by 4.5% in the fourth quarter. Heitman Real Estate Securities LLC now owns 2,370,476 shares of the company’s stock valued at $42,313,000 after acquiring an additional 103,006 shares during the last quarter.

NETSTREIT Stock Performance

NYSE:NTST opened at $17.08 on Monday. NETSTREIT Corp. has a 1-year low of $13.49 and a 1-year high of $18.97. The firm has a 50-day moving average of $16.53 and a two-hundred day moving average of $16.96. The company has a debt-to-equity ratio of 0.55, a current ratio of 4.08 and a quick ratio of 4.08. The stock has a market cap of $1.25 billion, a P/E ratio of 189.78 and a beta of 0.97.

NETSTREIT (NYSE:NTST) last released its earnings results on Monday, July 29th. The company reported ($0.03) earnings per share for the quarter, missing the consensus estimate of $0.30 by ($0.33). NETSTREIT had a return on equity of 0.39% and a net margin of 3.32%. The company had revenue of $39.57 million during the quarter, compared to the consensus estimate of $39.31 million. During the same period in the previous year, the firm posted $0.30 EPS. On average, research analysts expect that NETSTREIT Corp. will post 1.19 earnings per share for the current fiscal year.

NETSTREIT Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Tuesday, September 3rd were given a $0.21 dividend. This is a positive change from NETSTREIT’s previous quarterly dividend of $0.21. The ex-dividend date was Tuesday, September 3rd. This represents a $0.84 annualized dividend and a dividend yield of 4.92%. NETSTREIT’s dividend payout ratio (DPR) is presently 933.33%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on NTST shares. 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 shares of NETSTREIT from an “outperform” rating to a “strong-buy” rating and reduced 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 objective 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 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 company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $17.88.

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.