MQS Management LLC Lowers Holdings in NETSTREIT Corp. (NYSE:NTST)

MQS Management LLC lessened its holdings in NETSTREIT Corp. (NYSE:NTST) by 13.9% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 18,031 shares of the company’s stock after selling 2,909 shares during the period. MQS Management LLC’s holdings in NETSTREIT were worth $298,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Silvercrest Asset Management Group LLC boosted its holdings in NETSTREIT by 22.2% in the first quarter. Silvercrest Asset Management Group LLC now owns 1,007,072 shares of the company’s stock valued at $18,500,000 after purchasing an additional 183,058 shares during the period. Vanguard Group Inc. boosted its stake in shares of NETSTREIT by 8.3% in the 1st quarter. Vanguard Group Inc. now owns 7,352,295 shares of the company’s stock valued at $135,062,000 after buying an additional 566,513 shares during the period. Teachers Retirement System of The State of Kentucky grew its position in shares of NETSTREIT by 32.0% during the first quarter. Teachers Retirement System of The State of Kentucky now owns 134,914 shares of the company’s stock worth $2,478,000 after buying an additional 32,688 shares in the last quarter. DekaBank Deutsche Girozentrale increased its stake in shares of NETSTREIT by 343.3% during the first quarter. DekaBank Deutsche Girozentrale now owns 75,155 shares of the company’s stock worth $1,331,000 after buying an additional 58,201 shares during the period. Finally, Cubist Systematic Strategies LLC raised its holdings in NETSTREIT by 5,699.7% in the second quarter. Cubist Systematic Strategies LLC now owns 146,616 shares of the company’s stock valued at $2,361,000 after acquiring an additional 144,088 shares in the last quarter.

NETSTREIT Trading Down 1.4 %

Shares of NETSTREIT stock opened at $15.46 on Friday. The company’s fifty day moving average is $16.17 and its two-hundred day moving average is $16.57. 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 capitalization of $1.26 billion, a P/E ratio of -257.67 and a beta of 0.97. NETSTREIT Corp. has a 1 year low of $15.02 and a 1 year 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 for the quarter, missing the consensus estimate of $0.30 by ($0.37). The company 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 business earned $0.31 earnings per share. Analysts forecast that NETSTREIT Corp. will post 1.19 earnings per share for the current year.

NETSTREIT Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Monday, December 2nd will be paid a dividend of $0.21 per share. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $0.84 dividend on an annualized basis and a dividend yield of 5.43%. NETSTREIT’s dividend payout ratio (DPR) is -1,400.00%.

Analyst Ratings Changes

A number of equities research analysts have commented on NTST shares. Raymond James raised shares of NETSTREIT from an “outperform” rating to a “strong-buy” rating and dropped their price objective for the company from $20.00 to $19.00 in a research report on Wednesday, August 21st. Stifel Nicolaus cut their price target on NETSTREIT from $19.50 to $19.25 and set a “buy” rating on the stock in a research note on Tuesday, November 5th. UBS Group began coverage on NETSTREIT in a research report on Monday, October 14th. They set a “buy” rating and a $19.00 price objective for the company. Wedbush initiated coverage on NETSTREIT in a research report on Monday, August 19th. They set a “neutral” rating and a $17.00 target price on the stock. Finally, Scotiabank raised NETSTREIT from a “sector perform” rating to a “sector outperform” rating and upped their price target for the company from $16.00 to $18.00 in a report on Monday. Three research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, NETSTREIT presently has a consensus rating of “Moderate Buy” and a consensus target price of $18.30.

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.