Quest Partners LLC Has $4.24 Million Stake in NETSTREIT Corp. (NYSE:NTST)

Quest Partners LLC raised its stake in NETSTREIT Corp. (NYSE:NTST) by 1,948.0% during the third quarter, according to its most recent disclosure with the SEC. The fund owned 256,351 shares of the company’s stock after buying an additional 243,834 shares during the quarter. NETSTREIT makes up about 0.4% of Quest Partners LLC’s investment portfolio, making the stock its 9th largest holding. Quest Partners LLC owned about 0.33% of NETSTREIT worth $4,237,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of NTST. Long Pond Capital LP increased its position in NETSTREIT by 235.2% in the 1st quarter. Long Pond Capital LP now owns 5,967,437 shares of the company’s stock valued at $109,622,000 after acquiring an additional 4,187,438 shares during the period. Sumitomo Mitsui Trust Group Inc. increased its holdings in shares of 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 valued at $26,700,000 after purchasing an additional 1,535,761 shares during the period. Vanguard Group Inc. raised its stake in shares of 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 in the last quarter. Marshall Wace LLP lifted its holdings in NETSTREIT by 42.4% in the second quarter. Marshall Wace LLP now owns 1,009,106 shares of the company’s stock worth $16,247,000 after purchasing an additional 300,481 shares during the period. Finally, Silvercrest Asset Management Group LLC grew its position in NETSTREIT by 22.2% in 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 in the last quarter.

Analyst Upgrades and Downgrades

A number of analysts have commented on the stock. UBS Group started coverage on shares of NETSTREIT in a research report on Monday, October 14th. They set a “buy” rating and a $19.00 price target on the stock. Scotiabank raised NETSTREIT from a “sector perform” rating to a “sector outperform” rating and increased their price target for the company from $16.00 to $18.00 in a research note on Monday, November 11th. Raymond James raised NETSTREIT from an “outperform” rating to a “strong-buy” rating and dropped their price objective for the stock from $20.00 to $19.00 in a research note on Wednesday, August 21st. Wedbush started coverage on NETSTREIT in a research note on Monday, August 19th. They set a “neutral” rating and a $17.00 target price for the company. Finally, Stifel Nicolaus lowered 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. Three research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $18.30.

NETSTREIT Trading Down 0.1 %

Shares of NYSE NTST opened at $15.45 on Monday. The business has a fifty day simple moving average of $16.11 and a 200-day simple moving average of $16.55. The company has a quick ratio of 4.11, a current ratio of 4.11 and a debt-to-equity ratio of 0.57. The company has a market cap of $1.26 billion, a price-to-earnings ratio of -257.46 and a beta of 0.97. NETSTREIT Corp. has a 12 month low of $15.02 and a 12 month high of $18.97.

NETSTREIT (NYSE:NTST) last announced its 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 firm had revenue of $41.44 million for 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 firm earned $0.31 earnings per share. Sell-side analysts predict that NETSTREIT Corp. will post 1.19 EPS for the current year.

NETSTREIT Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Monday, December 2nd will be given a $0.21 dividend. The ex-dividend date is Monday, December 2nd. This represents a $0.84 dividend on an annualized basis and a yield of 5.44%. NETSTREIT’s payout ratio is -1,399.77%.

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.