Y Intercept Hong Kong Ltd Buys Shares of 27,636 NETSTREIT Corp. (NYSE:NTST)

Y Intercept Hong Kong Ltd bought a new position in NETSTREIT Corp. (NYSE:NTST) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 27,636 shares of the company’s stock, valued at approximately $457,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in NTST. SG Americas Securities LLC acquired a new position in NETSTREIT in the second quarter worth approximately $316,000. Bank of New York Mellon Corp grew its position in NETSTREIT by 7.4% in the second quarter. Bank of New York Mellon Corp now owns 409,904 shares of the company’s stock worth $6,599,000 after acquiring an additional 28,222 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its position in NETSTREIT by 10.2% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 25,581 shares of the company’s stock worth $412,000 after acquiring an additional 2,373 shares in the last quarter. Van ECK Associates Corp increased its stake in shares of NETSTREIT by 13.7% during the 2nd quarter. Van ECK Associates Corp now owns 11,280 shares of the company’s stock worth $182,000 after purchasing an additional 1,359 shares during the last quarter. Finally, Rhumbline Advisers raised its holdings in shares of NETSTREIT by 10.2% during the 2nd quarter. Rhumbline Advisers now owns 126,929 shares of the company’s stock valued at $2,044,000 after purchasing an additional 11,765 shares in the last quarter.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on NTST. Wedbush initiated coverage on shares of NETSTREIT in a report on Monday, August 19th. They issued a “neutral” rating and a $17.00 price objective for the company. 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 for the company. Raymond James raised NETSTREIT from an “outperform” rating to a “strong-buy” rating and lowered their price objective for the company from $20.00 to $19.00 in a report on Wednesday, August 21st. Scotiabank upgraded NETSTREIT from a “sector perform” rating to a “sector outperform” rating and boosted their target price for the stock from $16.00 to $18.00 in a report on Monday, November 11th. Finally, Stifel Nicolaus lowered their price target on NETSTREIT from $19.50 to $19.25 and set a “buy” rating on the stock in a report on Tuesday, November 5th. Two investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $19.03.

NETSTREIT Price Performance

NYSE NTST opened at $15.00 on Monday. The stock has a 50-day simple moving average of $15.83 and a 200 day simple moving average of $16.31. NETSTREIT Corp. has a twelve month low of $14.83 and a twelve month high of $18.97. The stock has a market capitalization of $1.22 billion, a PE ratio of -250.00 and a beta of 0.97. 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 (NYSE:NTST) last issued its quarterly earnings results on Monday, November 4th. The company reported ($0.07) EPS for the quarter, missing the consensus estimate of $0.30 by ($0.37). NETSTREIT had a negative return on equity of 0.35% and a negative net margin of 2.96%. The business had revenue of $41.44 million during the quarter, compared to the consensus estimate of $41.10 million. During the same period in the prior year, the firm earned $0.31 earnings per share. Research analysts anticipate that NETSTREIT Corp. will post 1.19 EPS for the current year.

NETSTREIT Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, December 13th. Investors of record on Monday, December 2nd were paid a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 5.60%. The ex-dividend date of this dividend was Monday, December 2nd. NETSTREIT’s payout ratio is presently -1,400.00%.

NETSTREIT Profile

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.