Tower Research Capital LLC TRC raised its position in NETSTREIT Corp. (NYSE:NTST – Free Report) by 2,024.2% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 5,268 shares of the company’s stock after buying an additional 5,020 shares during the period. Tower Research Capital LLC TRC’s holdings in NETSTREIT were worth $96,000 as of its most recent SEC filing.
A number of other large investors also recently modified their holdings of NTST. Migdal Insurance & Financial Holdings Ltd. lifted its position in shares of NETSTREIT by 103.2% during the first quarter. Migdal Insurance & Financial Holdings Ltd. now owns 2,056 shares of the company’s stock worth $37,000 after purchasing an additional 1,044 shares in the last quarter. FMR LLC increased its position in shares of NETSTREIT by 62.4% during the second quarter. FMR LLC now owns 2,936 shares of the company’s stock worth $55,000 after acquiring an additional 1,128 shares in the last quarter. Point72 Hong Kong Ltd bought a new stake in shares of NETSTREIT during the first quarter worth $64,000. Royal Bank of Canada boosted its holdings in NETSTREIT by 18.2% during the third quarter. Royal Bank of Canada now owns 4,260 shares of the company’s stock worth $75,000 after purchasing an additional 655 shares during the last quarter. Finally, Coppell Advisory Solutions Corp. acquired a new position in NETSTREIT during the fourth quarter worth $91,000.
Wall Street Analysts Forecast Growth
A number of analysts have commented on NTST shares. TheStreet upgraded shares of NETSTREIT from a “d+” rating to a “c” rating in a research note on Monday, August 14th. BNP Paribas started coverage on shares of NETSTREIT in a research note on Wednesday, June 14th. They issued an “outperform” rating and a $23.00 price target for the company. Stifel Nicolaus cut their price target on shares of NETSTREIT from $21.50 to $21.00 in a research note on Friday, July 7th. Finally, Wolfe Research cut shares of NETSTREIT from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, July 5th. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, NETSTREIT has an average rating of “Moderate Buy” and an average target price of $21.75.
NETSTREIT Stock Performance
NYSE:NTST opened at $17.03 on Monday. The company has a fifty day moving average of $17.56 and a 200-day moving average of $18.08. The firm has a market capitalization of $1.14 billion, a P/E ratio of 170.30, a P/E/G ratio of 2.77 and a beta of 0.92. The company has a quick ratio of 3.27, a current ratio of 3.27 and a debt-to-equity ratio of 0.40. NETSTREIT Corp. has a twelve month low of $16.74 and a twelve month high of $20.64.
NETSTREIT Increases Dividend
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Friday, September 1st will be paid a dividend of $0.205 per share. This represents a $0.82 dividend on an annualized basis and a yield of 4.82%. The ex-dividend date is Thursday, August 31st. This is a positive change from NETSTREIT’s previous quarterly dividend of $0.20. NETSTREIT’s payout ratio is 820.00%.
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.
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