NETSTREIT Corp. $NTST Stake Increased by Connor Clark & Lunn Investment Management Ltd.

Connor Clark & Lunn Investment Management Ltd. raised its stake in NETSTREIT Corp. (NYSE:NTST) by 35.4% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 105,521 shares of the company’s stock after purchasing an additional 27,578 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned 0.13% of NETSTREIT worth $1,786,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Metis Global Partners LLC raised its holdings in shares of NETSTREIT by 30.5% during the second quarter. Metis Global Partners LLC now owns 13,488 shares of the company’s stock worth $228,000 after purchasing an additional 3,149 shares during the period. Bank of New York Mellon Corp grew its position in shares of NETSTREIT by 76.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 620,213 shares of the company’s stock valued at $10,500,000 after buying an additional 268,797 shares during the last quarter. Corton Capital Inc. raised its stake in NETSTREIT by 25.7% during the second quarter. Corton Capital Inc. now owns 18,971 shares of the company’s stock worth $321,000 after acquiring an additional 3,879 shares during the period. OVERSEA CHINESE BANKING Corp Ltd bought a new position in NETSTREIT in the second quarter worth about $1,591,000. Finally, Envestnet Asset Management Inc. boosted its stake in NETSTREIT by 33.5% in the second quarter. Envestnet Asset Management Inc. now owns 231,733 shares of the company’s stock valued at $3,923,000 after acquiring an additional 58,091 shares during the period.

Insider Activity

In other news, CEO Mark Manheimer acquired 5,600 shares of the company’s stock in a transaction dated Friday, September 5th. The shares were bought at an average price of $17.93 per share, with a total value of $100,408.00. Following the purchase, the chief executive officer owned 316,378 shares of the company’s stock, valued at approximately $5,672,657.54. This represents a 1.80% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.58% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently weighed in on NTST. Robert W. Baird increased their price target on NETSTREIT from $20.00 to $21.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 28th. Mizuho increased their target price on NETSTREIT from $17.00 to $20.00 and gave the stock an “outperform” rating in a research report on Thursday, September 11th. Truist Financial set a $19.00 target price on NETSTREIT in a research note on Friday, July 25th. Wells Fargo & Company upped their price target on shares of NETSTREIT from $18.00 to $20.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 27th. Finally, Stifel Nicolaus increased their price objective on shares of NETSTREIT from $20.00 to $21.00 and gave the stock a “buy” rating in a report on Tuesday, October 28th. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $20.45.

NETSTREIT Price Performance

Shares of NYSE NTST opened at $18.28 on Monday. The stock has a market cap of $1.53 billion, a P/E ratio of -1,827,600.00, a P/E/G ratio of 3.90 and a beta of 0.90. The firm’s 50-day simple moving average is $18.46 and its 200 day simple moving average is $17.63. NETSTREIT Corp. has a fifty-two week low of $13.42 and a fifty-two week high of $19.64. The company has a quick ratio of 3.85, a current ratio of 3.85 and a debt-to-equity ratio of 0.84.

NETSTREIT (NYSE:NTST) last released its quarterly earnings results on Monday, October 27th. The company reported $0.01 EPS for the quarter, missing analysts’ consensus estimates of $0.33 by ($0.32). The company had revenue of $48.31 million for the quarter, compared to the consensus estimate of $47.78 million. NETSTREIT had a return on equity of 0.01% and a net margin of 0.10%. NETSTREIT has set its FY 2025 guidance at 1.290-1.31 EPS. Equities analysts expect that NETSTREIT Corp. will post 1.19 EPS for the current year.

NETSTREIT Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Monday, December 1st will be paid a dividend of $0.215 per share. This represents a $0.86 dividend on an annualized basis and a yield of 4.7%. The ex-dividend date of this dividend is Monday, December 1st.

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.