State of New Jersey Common Pension Fund D Sells 52,170 Shares of NETSTREIT Corp. (NYSE:NTST)

State of New Jersey Common Pension Fund D decreased its position in NETSTREIT Corp. (NYSE:NTST) by 32.4% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 108,970 shares of the company’s stock after selling 52,170 shares during the quarter. State of New Jersey Common Pension Fund D owned 0.15% of NETSTREIT worth $1,754,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

NETSTREIT Trading Down 0.8 %

Shares of NTST stock opened at $16.28 on Wednesday. The company has a current ratio of 4.08, a quick ratio of 4.08 and a debt-to-equity ratio of 0.55. NETSTREIT Corp. has a twelve month low of $13.49 and a twelve month high of $18.97. The company’s 50-day moving average price is $16.56 and its 200-day moving average price is $16.93. The stock has a market cap of $1.19 billion, a price-to-earnings ratio of 180.89 and a beta of 0.97.

NETSTREIT (NYSE:NTST) last issued its quarterly earnings data on Monday, July 29th. The company reported ($0.03) EPS for the quarter, missing the consensus estimate of $0.30 by ($0.33). The company had revenue of $39.57 million during the quarter, compared to analyst estimates 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 prior year, the company posted $0.30 earnings per share. As a group, equities analysts predict that NETSTREIT Corp. will post 1.19 earnings per share for the current year.

NETSTREIT Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Tuesday, September 3rd were paid a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 5.16%. This is a positive change from NETSTREIT’s previous quarterly dividend of $0.21. The ex-dividend date was Tuesday, September 3rd. NETSTREIT’s dividend payout ratio is presently 933.33%.

Analyst Upgrades and Downgrades

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

NETSTREIT Company 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.