Nordea Investment Management AB Sells 58,790 Shares of NETSTREIT Corp. $NTST

Nordea Investment Management AB trimmed its holdings in shares of NETSTREIT Corp. (NYSE:NTST) by 11.9% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 436,728 shares of the company’s stock after selling 58,790 shares during the period. Nordea Investment Management AB’s holdings in NETSTREIT were worth $7,691,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the business. EverSource Wealth Advisors LLC boosted its stake in NETSTREIT by 1,123.3% in the second quarter. EverSource Wealth Advisors LLC now owns 1,786 shares of the company’s stock worth $30,000 after purchasing an additional 1,640 shares in the last quarter. CWM LLC increased its stake in shares of NETSTREIT by 33.0% in the third quarter. CWM LLC now owns 6,233 shares of the company’s stock valued at $113,000 after buying an additional 1,546 shares in the last quarter. CIBC Private Wealth Group LLC increased its stake in shares of NETSTREIT by 39.1% in the third quarter. CIBC Private Wealth Group LLC now owns 7,299 shares of the company’s stock valued at $132,000 after buying an additional 2,051 shares in the last quarter. Quadrant Capital Group LLC bought a new position in shares of NETSTREIT in the third quarter valued at about $159,000. Finally, CIBC Bancorp USA Inc. bought a new position in shares of NETSTREIT in the third quarter valued at about $183,000.

Analysts Set New Price Targets

A number of equities research analysts have commented on NTST shares. Scotiabank increased their price objective on shares of NETSTREIT from $21.00 to $22.00 and gave the stock a “sector outperform” rating in a report on Monday, March 2nd. Raymond James Financial downgraded shares of NETSTREIT from a “strong-buy” rating to an “outperform” rating and boosted their target price for the stock from $21.00 to $22.00 in a research note on Tuesday, March 17th. BTIG Research upped their target price on shares of NETSTREIT from $19.00 to $22.00 and gave the stock a “buy” rating in a research report on Tuesday, March 3rd. Cantor Fitzgerald increased their price target on shares of NETSTREIT from $20.00 to $22.00 and gave the company an “overweight” rating in a research note on Tuesday, February 17th. Finally, Mizuho raised their price target on shares of NETSTREIT from $19.00 to $23.00 and gave the company an “outperform” rating in a report on Wednesday, March 11th. Eleven equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, NETSTREIT has an average rating of “Moderate Buy” and an average price target of $21.58.

NETSTREIT Trading Down 1.8%

Shares of NTST opened at $18.68 on Thursday. The stock’s fifty day simple moving average is $19.60 and its 200-day simple moving average is $18.63. The firm has a market capitalization of $1.81 billion, a PE ratio of 207.50, a price-to-earnings-growth ratio of 2.96 and a beta of 0.86. NETSTREIT Corp. has a 12-month low of $14.00 and a 12-month high of $21.30. The company has a quick ratio of 3.12, a current ratio of 3.12 and a debt-to-equity ratio of 0.75.

NETSTREIT (NYSE:NTST) last announced its quarterly earnings data on Tuesday, February 10th. The company reported $0.02 EPS for the quarter, missing analysts’ consensus estimates of $0.33 by ($0.31). The firm had revenue of $52.50 million during the quarter, compared to analyst estimates of $50.98 million. NETSTREIT had a return on equity of 0.51% and a net margin of 3.54%. As a group, research analysts predict that NETSTREIT Corp. will post 1.19 earnings per share for the current year.

NETSTREIT Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Monday, March 16th will be given a dividend of $0.22 per share. The ex-dividend date is Monday, March 16th. This represents a $0.88 annualized dividend and a dividend yield of 4.7%. This is a positive change from NETSTREIT’s previous quarterly dividend of $0.22. NETSTREIT’s dividend payout ratio is presently 977.78%.

NETSTREIT Company Profile

NetSTREIT Corp. is a real estate investment trust that specializes in the acquisition and management of single‐tenant, net lease retail properties across the United States. The company targets assets leased to investment‐grade or creditworthy tenants under long‐term, triple‐net leases, which generally shift property‐level expenses—such as taxes, insurance and maintenance—to the tenant. This business model is designed to generate predictable, stable income streams and to limit landlord responsibilities.

NetSTREIT’s portfolio encompasses a diversified mix of essential retail and service properties, including quick‐service restaurants, convenience stores, banks, automotive service centers and medical clinics.