NETSTREIT (NYSE:NTST) Sees Large Volume Increase – Here’s Why

NETSTREIT Corp. (NYSE:NTST) shares saw unusually-high trading volume on Thursday . Approximately 1,632,095 shares changed hands during mid-day trading, an increase of 119% from the previous session’s volume of 745,650 shares.The stock last traded at $14.55 and had previously closed at $14.22.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on NTST shares. Raymond James lowered their price objective on shares of NETSTREIT from $19.00 to $17.00 and set a “strong-buy” rating for the company in a research report on Friday, January 17th. Stifel Nicolaus cut their price objective on shares of NETSTREIT from $19.50 to $19.25 and set a “buy” rating on the stock in a research report on Tuesday, November 5th. Mizuho decreased their target price on shares of NETSTREIT from $17.00 to $15.00 and set an “outperform” rating for the company in a research report on Wednesday, January 8th. Scotiabank upgraded shares of NETSTREIT from a “sector perform” rating to a “sector outperform” rating and lifted their price target for the company from $16.00 to $18.00 in a research note on Monday, November 11th. Finally, UBS Group assumed coverage on NETSTREIT in a report on Monday, October 14th. They issued a “buy” rating and a $19.00 price objective for the company. Two 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 company’s stock. According to MarketBeat.com, NETSTREIT presently has a consensus rating of “Moderate Buy” and a consensus price target of $17.75.

NETSTREIT Price Performance

The company has a current ratio of 4.11, a quick ratio of 4.11 and a debt-to-equity ratio of 0.57. The company’s 50 day moving average is $14.67 and its 200-day moving average is $15.71. The firm has a market capitalization of $1.18 billion, a price-to-earnings ratio of -241.29 and a beta of 1.00.

NETSTREIT (NYSE:NTST) last issued its quarterly earnings data on Monday, November 4th. The company reported ($0.07) earnings per share for the quarter, missing the consensus estimate of $0.30 by ($0.37). NETSTREIT had a negative net margin of 2.96% and a negative return on equity of 0.35%. The company had revenue of $41.44 million during the quarter, compared to the consensus estimate of $41.10 million. During the same period in the previous year, the company earned $0.31 earnings per share. Equities research analysts anticipate that NETSTREIT Corp. will post 1.19 earnings per share for the current year.

NETSTREIT Announces Dividend

The business also recently declared 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 5.80%. The ex-dividend date was Monday, December 2nd. NETSTREIT’s dividend payout ratio (DPR) is currently -1,399.77%.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. New York State Common Retirement Fund boosted its stake in shares of NETSTREIT by 913.4% in the 4th quarter. New York State Common Retirement Fund now owns 230,897 shares of the company’s stock valued at $3,267,000 after purchasing an additional 208,113 shares in the last quarter. Principal Financial Group Inc. raised its holdings in NETSTREIT by 46.4% during the 4th quarter. Principal Financial Group Inc. now owns 4,800,208 shares of the company’s stock worth $67,924,000 after purchasing an additional 1,521,668 shares during the last quarter. State of New Jersey Common Pension Fund D lifted its holdings in NETSTREIT by 13.9% in the fourth quarter. State of New Jersey Common Pension Fund D now owns 131,692 shares of the company’s stock valued at $1,863,000 after buying an additional 16,032 shares during the period. Rhumbline Advisers lifted its stake in shares of NETSTREIT by 5.9% in the 4th quarter. Rhumbline Advisers now owns 133,894 shares of the company’s stock valued at $1,895,000 after purchasing an additional 7,477 shares during the period. Finally, Asset Management One Co. Ltd. lifted its stake in NETSTREIT by 5.2% in the fourth quarter. Asset Management One Co. Ltd. now owns 116,808 shares of the company’s stock valued at $1,629,000 after buying an additional 5,728 shares during the period.

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.