Infrastructure Capital Advisors LLC Acquires New Stake in NETSTREIT Corp. (NYSE:NTST)

Infrastructure Capital Advisors LLC bought a new stake in shares of NETSTREIT Corp. (NYSE:NTST) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 10,690 shares of the company’s stock, valued at approximately $177,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of NETSTREIT by 765.7% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 635,707 shares of the company’s stock worth $10,508,000 after acquiring an additional 562,273 shares in the last quarter. Quantbot Technologies LP grew its stake in NETSTREIT by 90.8% during the 3rd quarter. Quantbot Technologies LP now owns 144,950 shares of the company’s stock worth $2,396,000 after buying an additional 68,993 shares during the last quarter. The Manufacturers Life Insurance Company grew its stake in NETSTREIT by 5.5% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 38,137 shares of the company’s stock valued at $630,000 after purchasing an additional 2,001 shares during the last quarter. Dynamic Technology Lab Private Ltd purchased a new stake in NETSTREIT during the 3rd quarter valued at about $236,000. Finally, Daiwa Securities Group Inc. grew its stake in NETSTREIT by 12.9% during the 3rd quarter. Daiwa Securities Group Inc. now owns 25,594 shares of the company’s stock valued at $423,000 after purchasing an additional 2,915 shares during the last quarter.

NETSTREIT Price Performance

Shares of NTST opened at $16.32 on Friday. The stock’s 50 day moving average is $15.98 and its two-hundred day moving average is $16.48. NETSTREIT Corp. has a 12 month low of $15.02 and a 12 month high of $18.97. The company has a debt-to-equity ratio of 0.57, a current ratio of 4.11 and a quick ratio of 4.11.

NETSTREIT (NYSE:NTST) last announced its quarterly earnings data on Monday, November 4th. The company reported ($0.07) EPS for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.37). The company had revenue of $41.44 million for the quarter, compared to analysts’ expectations 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 quarter in the previous year, the business posted $0.31 EPS. As a group, sell-side analysts expect that NETSTREIT Corp. will post 1.19 EPS for the current fiscal year.

NETSTREIT Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Monday, December 2nd will be issued a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 5.15%. The ex-dividend date is Monday, December 2nd. NETSTREIT’s dividend payout ratio (DPR) is -1,399.77%.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the company. Stifel Nicolaus dropped 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. Scotiabank upgraded NETSTREIT from a “sector perform” rating to a “sector outperform” rating and boosted their price target for the company from $16.00 to $18.00 in a research note on Monday, November 11th. UBS Group assumed coverage on NETSTREIT in a research note on Monday, October 14th. They set a “buy” rating and a $19.00 price target on the stock. Raymond James upgraded NETSTREIT from an “outperform” rating to a “strong-buy” rating and dropped their price target for the company from $20.00 to $19.00 in a research note on Wednesday, August 21st. Finally, Wedbush initiated coverage on NETSTREIT in a research note on Monday, August 19th. They issued a “neutral” rating and a $17.00 target price on the stock. Three investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $18.25.

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.