Quantbot Technologies LP Has $2.40 Million Stake in NETSTREIT Corp. (NYSE:NTST)

Quantbot Technologies LP raised its position in NETSTREIT Corp. (NYSE:NTST) by 90.8% in the third quarter, HoldingsChannel.com reports. The fund owned 144,950 shares of the company’s stock after purchasing an additional 68,993 shares during the quarter. Quantbot Technologies LP’s holdings in NETSTREIT were worth $2,396,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Quarry LP bought a new stake in NETSTREIT in the 2nd quarter valued at $45,000. Point72 DIFC Ltd acquired a new position in shares of NETSTREIT in the second quarter valued at $83,000. Custom Index Systems LLC bought a new position in shares of NETSTREIT in the third quarter valued at about $170,000. M&G PLC acquired a new stake in shares of NETSTREIT during the 3rd quarter worth about $173,000. Finally, Van ECK Associates Corp boosted its holdings 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 buying an additional 1,359 shares during the period.

NETSTREIT Stock Up 0.6 %

NTST stock opened at $16.32 on Friday. The company has a market cap of $1.33 billion, a PE ratio of -272.00 and a beta of 0.97. The company has a quick ratio of 4.11, a current ratio of 4.11 and a debt-to-equity ratio of 0.57. NETSTREIT Corp. has a 52 week low of $15.02 and a 52 week high of $18.97. The business has a 50-day simple moving average of $15.98 and a 200 day simple moving average of $16.48.

NETSTREIT (NYSE:NTST) last issued its quarterly earnings results on Monday, November 4th. The company reported ($0.07) earnings per share for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.37). The firm had revenue of $41.44 million for the quarter, compared to the consensus estimate 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 last year, the company posted $0.31 EPS. Sell-side analysts anticipate that NETSTREIT Corp. will post 1.19 EPS for the current fiscal year.

NETSTREIT Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Monday, December 2nd will be issued a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 5.15%. The ex-dividend date of this dividend is Monday, December 2nd. NETSTREIT’s dividend payout ratio is presently -1,400.00%.

Analyst Ratings Changes

NTST has been the topic of several research analyst reports. UBS Group started coverage on shares of NETSTREIT in a report on Monday, October 14th. They issued a “buy” rating and a $19.00 price target on the stock. Wedbush initiated coverage on NETSTREIT in a research note on Monday, August 19th. They set a “neutral” rating and a $17.00 target price on the stock. Stifel Nicolaus reduced their price target on NETSTREIT from $19.50 to $19.25 and set a “buy” rating for the company in a research note on Tuesday, November 5th. Scotiabank upgraded NETSTREIT from a “sector perform” rating to a “sector outperform” rating and increased their price objective for the stock from $16.00 to $18.00 in a research report on Monday, November 11th. Finally, Raymond James raised shares of NETSTREIT from an “outperform” rating to a “strong-buy” rating and reduced their target price for the company from $20.00 to $19.00 in a research report on Wednesday, August 21st. Three investment analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $18.25.

NETSTREIT Company 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.