NETSTREIT Corp. $NTST Holdings Decreased by VIRGINIA RETIREMENT SYSTEMS ET Al

VIRGINIA RETIREMENT SYSTEMS ET Al lowered its position in NETSTREIT Corp. (NYSE:NTST) by 28.8% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 195,578 shares of the company’s stock after selling 79,200 shares during the quarter. VIRGINIA RETIREMENT SYSTEMS ET Al’s holdings in NETSTREIT were worth $3,458,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in NTST. BlackRock Inc. acquired a new stake in NETSTREIT during the 2nd quarter worth approximately $404,780,000. Principal Financial Group Inc. grew its holdings in NETSTREIT by 3.4% during the 1st quarter. Principal Financial Group Inc. now owns 9,535,801 shares of the company’s stock worth $179,560,000 after acquiring an additional 309,453 shares during the last quarter. Bank of America Corp DE grew its holdings in NETSTREIT by 12.2% during the 1st quarter. Bank of America Corp DE now owns 3,433,461 shares of the company’s stock worth $64,652,000 after acquiring an additional 372,337 shares during the last quarter. Deutsche Bank AG acquired a new position in NETSTREIT in the 2nd quarter valued at approximately $44,589,000. Finally, Jupiter Topco LLC acquired a new position in NETSTREIT in the 2nd quarter valued at approximately $36,959,000.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the stock. Scotiabank dropped their price target on shares of NETSTREIT from $22.00 to $20.00 and set a “sector outperform” rating for the company in a research note on Thursday, September 24th. Stifel Nicolaus reduced their price objective on shares of NETSTREIT from $23.50 to $21.25 and set a “buy” rating on the stock in a research note on Thursday, October 22nd. BMO Capital Markets boosted their price objective on shares of NETSTREIT from $24.00 to $25.00 and gave the stock an “outperform” rating in a research note on Monday, July 20th. Cantor Fitzgerald decreased their price objective on NETSTREIT from $25.00 to $21.00 and set an “overweight” rating for the company in a report on Friday, October 23rd. Finally, Mizuho lowered their target price on NETSTREIT from $20.00 to $19.00 and set an “outperform” rating for the company in a research report on Monday, October 19th. Thirteen investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $21.67.

NETSTREIT Price Performance

Shares of NTST opened at $17.97 on Tuesday. The business has a 50-day moving average of $18.43 and a 200-day moving average of $19.80. The company has a debt-to-equity ratio of 0.59, a current ratio of 2.77 and a quick ratio of 2.77. The company has a market capitalization of $2.26 billion, a price-to-earnings ratio of 81.67, a price-to-earnings-growth ratio of 1.69 and a beta of 0.80. NETSTREIT Corp. has a 1 year low of $16.18 and a 1 year high of $22.47.

NETSTREIT (NYSE:NTST) last announced its earnings results on Wednesday, October 21st. The company reported $0.08 EPS for the quarter, missing the consensus estimate of $0.09 by ($0.01). NETSTREIT had a net margin of 9.18% and a return on equity of 1.33%. The company had revenue of $66.26 million during the quarter, compared to the consensus estimate of $60.55 million. As a group, equities research analysts anticipate that NETSTREIT Corp. will post 1.29 earnings per share for the current year.

NETSTREIT Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 15th. Stockholders of record on Tuesday, December 1st will be given a dividend of $0.2250 per share. The ex-dividend date is Tuesday, December 1st. This represents a $0.90 annualized dividend and a dividend yield of 5.0%. NETSTREIT’s dividend payout ratio is 409.09%.

NETSTREIT Profile

NETSTREIT Corp. is a real estate investment trust focused on owning and managing outpatient healthcare properties in the United States. The company invests primarily in facilities that provide essential medical services, including physician offices, ambulatory care centers and other outpatient healthcare locations.

NETSTREIT generally leases its properties to healthcare providers under long-term, triple-net lease agreements. Under these arrangements, tenants typically assume responsibility for property taxes, insurance and maintenance expenses.