Jane Street Group LLC Trims Position in NETSTREIT Corp. (NYSE:NTST)

Jane Street Group LLC lowered its stake in shares of NETSTREIT Corp. (NYSE:NTST) by 38.6% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 61,172 shares of the company’s stock after selling 38,517 shares during the period. Jane Street Group LLC’s holdings in NETSTREIT were worth $1,011,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in NTST. State Street Corp boosted its holdings in NETSTREIT by 2.9% during the third quarter. State Street Corp now owns 3,104,081 shares of the company’s stock worth $51,310,000 after buying an additional 87,669 shares in the last quarter. Stifel Financial Corp purchased a new stake in shares of NETSTREIT during the 3rd quarter worth approximately $480,000. QSV Equity Investors LLC grew its holdings in shares of NETSTREIT by 1.6% in the 3rd quarter. QSV Equity Investors LLC now owns 77,533 shares of the company’s stock worth $1,282,000 after acquiring an additional 1,214 shares during the period. Rush Island Management LP increased its stake in NETSTREIT by 18.0% in the 3rd quarter. Rush Island Management LP now owns 2,364,964 shares of the company’s stock valued at $39,093,000 after purchasing an additional 359,993 shares in the last quarter. Finally, Janus Henderson Group PLC raised its holdings in NETSTREIT by 56.5% during the third quarter. Janus Henderson Group PLC now owns 43,800 shares of the company’s stock worth $724,000 after purchasing an additional 15,821 shares during the last quarter.

Analysts Set New Price Targets

Several research firms have weighed in on NTST. Truist Financial dropped their price target on NETSTREIT from $20.00 to $19.00 and set a “buy” rating for the company in a research report on Thursday, December 5th. Scotiabank raised shares of NETSTREIT from a “sector perform” rating to a “sector outperform” rating and boosted their target price for the company from $16.00 to $18.00 in a research note on Monday, November 11th. UBS Group assumed coverage on shares of NETSTREIT in a report on Monday, October 14th. They issued a “buy” rating and a $19.00 target price on the stock. Finally, Stifel Nicolaus cut their price objective on shares of NETSTREIT from $19.50 to $19.25 and set a “buy” rating for the company in a research report on Tuesday, November 5th. Two analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $19.03.

NETSTREIT Stock Performance

NTST opened at $13.95 on Tuesday. NETSTREIT Corp. has a 52-week low of $13.74 and a 52-week high of $18.97. The company has a debt-to-equity ratio of 0.57, a quick ratio of 4.11 and a current ratio of 4.11. The company has a market cap of $1.14 billion, a PE ratio of -232.46 and a beta of 0.97. The stock has a 50-day moving average of $15.48 and a 200-day moving average of $16.12.

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

NETSTREIT Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, December 13th. Stockholders of record on Monday, December 2nd were issued a $0.21 dividend. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $0.84 dividend on an annualized basis and a dividend yield of 6.02%. NETSTREIT’s payout ratio is presently -1,400.00%.

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.