Exchange Traded Concepts LLC Buys 8,680 Shares of NETSTREIT Corp. (NYSE:NTST)

by · The Markets Daily

Exchange Traded Concepts LLC boosted its stake in shares of NETSTREIT Corp. (NYSE:NTST – Free Report) by 7.3% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 126,963 shares of the company’s stock after buying an additional 8,680 shares during the quarter. Exchange Traded Concepts LLC owned approximately 0.17% of NETSTREIT worth $2,099,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. SG Americas Securities LLC lifted its holdings in NETSTREIT by 69.9% during the 3rd quarter. SG Americas Securities LLC now owns 33,320 shares of the company’s stock valued at $551,000 after buying an additional 13,710 shares in the last quarter. Point72 DIFC Ltd bought a new stake in NETSTREIT during the 2nd quarter valued at about $83,000. Teachers Retirement System of The State of Kentucky lifted its holdings in NETSTREIT by 10.3% during the 2nd quarter. Teachers Retirement System of The State of Kentucky now owns 148,753 shares of the company’s stock valued at $2,395,000 after buying an additional 13,839 shares in the last quarter. Quarry LP purchased a new position in NETSTREIT during the 2nd quarter valued at about $45,000. Finally, The Manufacturers Life Insurance Company increased its position in NETSTREIT by 8.3% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 36,136 shares of the company’s stock valued at $582,000 after purchasing an additional 2,755 shares during the period.

NETSTREIT Stock Performance

Shares of NYSE NTST opened at $16.01 on Tuesday. 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 12 month low of $13.49 and a 12 month high of $18.97. The company has a 50 day simple moving average of $16.33 and a two-hundred day simple moving average of $16.78. The stock has a market cap of $1.17 billion, a price-to-earnings ratio of 177.89 and a beta of 0.96.

NETSTREIT (NYSE:NTST – Get Free Report) last announced 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). NETSTREIT had a net margin of 3.32% and a return on equity of 0.39%. The business had revenue of $39.57 million for the quarter, compared to analyst estimates of $39.31 million. During the same quarter in the previous year, the firm posted $0.30 earnings per share. As a group, 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 $0.21 dividend. This is a boost from NETSTREIT’s previous quarterly dividend of $0.21. This represents a $0.84 annualized dividend and a dividend yield of 5.25%. The ex-dividend date was Tuesday, September 3rd. NETSTREIT’s payout ratio is currently 933.33%.

Analysts Set New Price Targets

A number of research analysts have commented on NTST shares. Scotiabank cut their target price on shares of NETSTREIT from $18.00 to $16.00 and set a “sector perform” rating on the stock in a research report on Wednesday, August 7th. UBS Group began coverage on shares of NETSTREIT in a research report on Monday. They set a “buy” rating and a $19.00 target price on the stock. Wedbush began coverage on shares of NETSTREIT in a research report on Monday, August 19th. They issued a “neutral” rating and a $17.00 price objective on the stock. Finally, Raymond James raised shares of 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. Four investment analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, NETSTREIT has an average rating of “Moderate Buy” and an average price target of $17.98.

Read Our Latest Report on NETSTREIT

NETSTREIT Profile

(Free Report)

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.

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