M&G Plc Purchases New Holdings in NETSTREIT Corp. (NYSE:NTST)

M&G Plc acquired a new position in shares of NETSTREIT Corp. (NYSE:NTST) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 10,156 shares of the company’s stock, valued at approximately $173,000.

Several other large investors also recently added to or reduced their stakes in NTST. Silvercrest Asset Management Group LLC boosted its stake in shares of NETSTREIT by 22.2% during the 1st quarter. Silvercrest Asset Management Group LLC now owns 1,007,072 shares of the company’s stock valued at $18,500,000 after buying an additional 183,058 shares during the period. Vanguard Group Inc. boosted its position in NETSTREIT by 8.3% during the first quarter. Vanguard Group Inc. now owns 7,352,295 shares of the company’s stock valued at $135,062,000 after purchasing an additional 566,513 shares during the last quarter. Russell Investments Group Ltd. grew its stake in NETSTREIT by 64.9% in the first quarter. Russell Investments Group Ltd. now owns 1,593,752 shares of the company’s stock valued at $29,277,000 after purchasing an additional 627,514 shares in the last quarter. Teachers Retirement System of The State of Kentucky increased its position in NETSTREIT by 32.0% in the 1st quarter. Teachers Retirement System of The State of Kentucky now owns 134,914 shares of the company’s stock worth $2,478,000 after purchasing an additional 32,688 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale raised its stake in shares of NETSTREIT by 343.3% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 75,155 shares of the company’s stock worth $1,331,000 after purchasing an additional 58,201 shares in the last quarter.

Analyst Upgrades and Downgrades

A number of research firms recently commented on NTST. Wedbush began coverage on NETSTREIT in a report on Monday, August 19th. They issued a “neutral” rating and a $17.00 price objective on the stock. Scotiabank cut their price target 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. Raymond James upgraded shares of NETSTREIT from an “outperform” rating to a “strong-buy” rating and decreased their price objective for the stock from $20.00 to $19.00 in a report on Wednesday, August 21st. Stifel Nicolaus cut their target price on NETSTREIT from $19.50 to $19.25 and set a “buy” rating on the stock in a report on Tuesday, November 5th. Finally, UBS Group initiated coverage on NETSTREIT in a report on Monday, October 14th. They set a “buy” rating and a $19.00 price objective on the stock. Four investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $18.11.

NETSTREIT Trading Up 1.8 %

Shares of NETSTREIT stock opened at $16.14 on Friday. The stock has a market capitalization of $1.32 billion, a P/E ratio of -268.96 and a beta of 0.97. NETSTREIT Corp. has a 12-month low of $14.92 and a 12-month high of $18.97. The company has a quick ratio of 4.08, a current ratio of 4.11 and a debt-to-equity ratio of 0.57. The company has a 50-day simple moving average of $16.23 and a 200 day simple moving average of $16.60.

NETSTREIT (NYSE:NTST) last issued 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 return on equity of 0.35% and a negative net margin of 2.96%. The company had revenue of $41.44 million for the quarter, compared to the consensus estimate of $41.10 million. During the same period in the prior year, the company earned $0.31 EPS. Research analysts expect that NETSTREIT Corp. will post 1.19 earnings per share for the current fiscal year.

NETSTREIT Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Monday, December 2nd will be issued a dividend of $0.21 per share. The ex-dividend date is Monday, December 2nd. This represents a $0.84 annualized dividend and a yield of 5.20%. NETSTREIT’s dividend payout ratio is currently -1,399.77%.

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.