NETSTREIT (NYSE:NTST) Sees Strong Trading Volume – What’s Next?

NETSTREIT Corp. (NYSE:NTST) shares saw unusually-strong trading volume on Thursday . Approximately 1,632,095 shares changed hands during trading, an increase of 119% from the previous session’s volume of 745,650 shares.The stock last traded at $14.55 and had previously closed at $14.22.

Wall Street Analyst Weigh In

A number of research firms have issued reports on NTST. Stifel Nicolaus decreased their price target on shares of NETSTREIT from $19.50 to $19.25 and set a “buy” rating for the company in a report on Tuesday, November 5th. UBS Group initiated coverage on NETSTREIT in a research report on Monday, October 14th. They set a “buy” rating and a $19.00 price target for the company. Mizuho dropped their price target on NETSTREIT from $17.00 to $15.00 and set an “outperform” rating on the stock in a research note on Wednesday, January 8th. Raymond James reduced their price objective on NETSTREIT from $19.00 to $17.00 and set a “strong-buy” rating for the company in a research note on Friday, January 17th. Finally, Scotiabank raised shares of 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, November 11th. Two equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $17.75.

NETSTREIT Stock Performance

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 firm has a market capitalization of $1.19 billion, a PE ratio of -243.38 and a beta of 1.00. The firm’s 50 day moving average price is $14.73 and its 200-day moving average price is $15.74.

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 analysts’ consensus estimates 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 return on equity of 0.35% and a negative net margin of 2.96%. During the same period in the prior year, the firm earned $0.31 earnings per share. On average, research analysts expect that NETSTREIT Corp. will post 1.19 EPS for the current year.

NETSTREIT Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 13th. Shareholders 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 yield of 5.75%. NETSTREIT’s payout ratio is -1,400.00%.

Institutional Trading of NETSTREIT

Hedge funds and other institutional investors have recently modified their holdings of the stock. Rhumbline Advisers lifted its holdings in NETSTREIT by 5.9% in the fourth quarter. Rhumbline Advisers now owns 133,894 shares of the company’s stock valued at $1,895,000 after acquiring an additional 7,477 shares during the last quarter. Asset Management One Co. Ltd. raised its position in NETSTREIT by 5.2% in the fourth quarter. Asset Management One Co. Ltd. now owns 116,808 shares of the company’s stock valued at $1,629,000 after purchasing an additional 5,728 shares during the period. Van ECK Associates Corp lifted its stake in shares of NETSTREIT by 10.2% in the 4th quarter. Van ECK Associates Corp now owns 14,729 shares of the company’s stock valued at $208,000 after purchasing an additional 1,366 shares during the last quarter. Polaris Capital Management LLC purchased a new position in shares of NETSTREIT during the 4th quarter worth $1,777,000. Finally, Sumitomo Mitsui Trust Group Inc. increased its position in shares of NETSTREIT by 36.7% during the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,207,703 shares of the company’s stock worth $31,239,000 after purchasing an additional 592,439 shares during the last quarter.

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.