Quest Partners LLC Grows Stake in NETSTREIT Corp. (NYSE:NTST)

Quest Partners LLC increased its stake in NETSTREIT Corp. (NYSE:NTST) by 1,948.0% in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 256,351 shares of the company’s stock after purchasing an additional 243,834 shares during the quarter. NETSTREIT makes up 0.4% of Quest Partners LLC’s investment portfolio, making the stock its 9th largest holding. Quest Partners LLC’s holdings in NETSTREIT were worth $4,237,000 as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. Vanguard Group Inc. grew its holdings in 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 last quarter. Long Pond Capital LP boosted its position in shares of NETSTREIT by 235.2% in the first 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. grew its stake in shares of NETSTREIT by 1,931.7% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,615,264 shares of the company’s stock worth $26,700,000 after acquiring an additional 1,535,761 shares during the last quarter. APG Asset Management US Inc. increased its position in NETSTREIT by 5.6% during the second quarter. APG Asset Management US Inc. now owns 1,520,236 shares of the company’s stock worth $24,597,000 after acquiring an additional 80,553 shares during the period. Finally, Marshall Wace LLP raised its stake in NETSTREIT by 42.4% during the 2nd quarter. Marshall Wace LLP now owns 1,009,106 shares of the company’s stock valued at $16,247,000 after purchasing an additional 300,481 shares during the last quarter.

Analyst Upgrades and Downgrades

NTST has been the subject of a number of research reports. Raymond James upgraded NETSTREIT from an “outperform” rating to a “strong-buy” rating and reduced their price objective for the stock from $20.00 to $19.00 in a research report on Wednesday, August 21st. Wedbush started coverage on NETSTREIT in a research report on Monday, August 19th. They set a “neutral” rating and a $17.00 target price for the company. Stifel Nicolaus decreased 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 assumed coverage on NETSTREIT in a research note on Monday, October 14th. They set a “buy” rating and a $19.00 price objective for the company. Finally, Scotiabank upgraded 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. Three research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, NETSTREIT has a consensus rating of “Moderate Buy” and a consensus price target of $18.30.

NETSTREIT Stock Performance

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

NETSTREIT (NYSE:NTST) last posted its quarterly earnings data 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). NETSTREIT had a negative net margin of 2.96% and a negative return on equity of 0.35%. The company had revenue of $41.44 million during the quarter, compared to analyst estimates of $41.10 million. During the same quarter in the previous year, the business posted $0.31 EPS. On average, equities research analysts predict that NETSTREIT Corp. will post 1.19 EPS for the current fiscal year.

NETSTREIT Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Monday, December 2nd will be given a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 5.44%. The ex-dividend date of this dividend is Monday, December 2nd. NETSTREIT’s dividend payout ratio (DPR) is presently -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.