Daiwa Securities Group Inc. Acquires 2,915 Shares of NETSTREIT Corp. (NYSE:NTST)

Daiwa Securities Group Inc. boosted its stake in shares of NETSTREIT Corp. (NYSE:NTST) by 12.9% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 25,594 shares of the company’s stock after acquiring an additional 2,915 shares during the quarter. Daiwa Securities Group Inc.’s holdings in NETSTREIT were worth $423,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of NTST. Charles Schwab Investment Management Inc. increased its position in NETSTREIT by 9.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,078,174 shares of the company’s stock worth $17,822,000 after purchasing an additional 95,433 shares during the period. Intech Investment Management LLC bought a new stake in NETSTREIT in the third quarter valued at approximately $324,000. Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of NETSTREIT in the 3rd quarter valued at $1,563,000. Quest Partners LLC increased its holdings in shares of NETSTREIT by 1,948.0% in the third quarter. Quest Partners LLC now owns 256,351 shares of the company’s stock worth $4,237,000 after acquiring an additional 243,834 shares in the last quarter. Finally, Thrivent Financial for Lutherans raised its holdings in NETSTREIT by 52.1% during the 3rd quarter. Thrivent Financial for Lutherans now owns 364,987 shares of the company’s stock worth $6,033,000 after buying an additional 125,076 shares during the period.

Analyst Upgrades and Downgrades

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

NETSTREIT Stock Performance

NTST stock opened at $16.21 on Friday. NETSTREIT Corp. has a 12-month low of $15.02 and a 12-month high of $18.97. The firm has a market cap of $1.32 billion, a PE ratio of -270.12 and a beta of 0.97. The business has a 50 day moving average of $15.98 and a 200-day moving average of $16.46. 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 (NYSE:NTST) last announced its quarterly earnings results on Monday, November 4th. The company reported ($0.07) EPS for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.37). The business had revenue of $41.44 million for the quarter, compared to analysts’ expectations of $41.10 million. NETSTREIT had a negative net margin of 2.96% and a negative return on equity of 0.35%. During the same quarter in the previous year, the company posted $0.31 earnings per share. As a group, sell-side analysts expect that NETSTREIT Corp. will post 1.19 earnings per share for the current year.

NETSTREIT Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Monday, December 2nd will be given a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 5.18%. The ex-dividend date is Monday, December 2nd. NETSTREIT’s dividend payout ratio (DPR) is currently -1,399.77%.

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.