Victory Capital Management Inc. Raises Position in NETSTREIT Corp. (NYSE:NTST)

Victory Capital Management Inc. raised its position in NETSTREIT Corp. (NYSE:NTST) by 10.6% during the third quarter, HoldingsChannel reports. The firm owned 85,500 shares of the company’s stock after purchasing an additional 8,200 shares during the period. Victory Capital Management Inc.’s holdings in NETSTREIT were worth $1,413,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Sumitomo Mitsui Trust Group Inc. boosted its stake 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 buying an additional 1,535,761 shares during the last quarter. Vanguard Group Inc. boosted its position 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 acquiring an additional 566,513 shares during the last quarter. Marshall Wace LLP grew its holdings 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 purchasing an additional 300,481 shares during the period. Cubist Systematic Strategies LLC increased its position in NETSTREIT by 5,699.7% during the second quarter. Cubist Systematic Strategies LLC now owns 146,616 shares of the company’s stock worth $2,361,000 after purchasing an additional 144,088 shares during the last quarter. Finally, Employees Retirement System of Texas purchased a new position in NETSTREIT during the second quarter worth about $1,932,000.

Analysts Set New Price Targets

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

NETSTREIT Price Performance

NTST opened at $16.29 on Tuesday. The firm has a market cap of $1.33 billion, a price-to-earnings ratio of -271.45 and a beta of 0.97. The company has a current ratio of 4.11, a quick ratio of 4.11 and a debt-to-equity ratio of 0.57. The stock’s 50-day moving average price is $15.99 and its 200 day moving average price is $16.49. NETSTREIT Corp. has a 12-month low of $15.02 and a 12-month high of $18.97.

NETSTREIT (NYSE:NTST) last issued its quarterly earnings results on Monday, November 4th. The company reported ($0.07) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.30 by ($0.37). The business had revenue of $41.44 million for the quarter, compared to analyst estimates of $41.10 million. NETSTREIT had a negative return on equity of 0.35% and a negative net margin of 2.96%. During the same period in the prior year, the company posted $0.31 EPS. As a group, sell-side analysts expect that NETSTREIT Corp. will post 1.19 earnings per share for the current year.

NETSTREIT Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Monday, December 2nd will be given a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 5.16%. The ex-dividend date is Monday, December 2nd. NETSTREIT’s dividend payout ratio is currently -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.