New York State Common Retirement Fund Trims Stock Position in NETSTREIT Corp. $NTST

New York State Common Retirement Fund lessened its stake in shares of NETSTREIT Corp. (NYSE:NTST) by 83.1% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 31,184 shares of the company’s stock after selling 153,718 shares during the period. New York State Common Retirement Fund’s holdings in NETSTREIT were worth $563,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of NTST. Royal Bank of Canada raised its position in NETSTREIT by 343.1% during the 1st quarter. Royal Bank of Canada now owns 36,730 shares of the company’s stock valued at $582,000 after purchasing an additional 28,441 shares in the last quarter. Amundi grew its position in shares of NETSTREIT by 1.6% during the 1st quarter. Amundi now owns 45,361 shares of the company’s stock worth $709,000 after buying an additional 704 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of NETSTREIT by 10.2% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 48,757 shares of the company’s stock valued at $773,000 after buying an additional 4,501 shares during the period. Goldman Sachs Group Inc. raised its holdings in shares of NETSTREIT by 3.6% in the first quarter. Goldman Sachs Group Inc. now owns 499,346 shares of the company’s stock valued at $7,915,000 after acquiring an additional 17,188 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in NETSTREIT by 8.0% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 567,532 shares of the company’s stock worth $8,995,000 after acquiring an additional 42,121 shares during the period.

NETSTREIT Trading Up 1.5%

NYSE NTST opened at $19.31 on Wednesday. NETSTREIT Corp. has a 52 week low of $13.74 and a 52 week high of $19.65. The company has a 50 day moving average price of $17.96 and a 200 day moving average price of $18.25. The company has a quick ratio of 3.85, a current ratio of 3.85 and a debt-to-equity ratio of 0.84. The firm has a market cap of $1.61 billion, a PE ratio of -1,931,100.00, a price-to-earnings-growth ratio of 3.84 and a beta of 0.88.

NETSTREIT (NYSE:NTST) last released its quarterly earnings results on Tuesday, February 10th. The company reported $0.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.33 by ($0.31). NETSTREIT had a return on equity of 0.01% and a net margin of 0.10%.The firm had revenue of $52.50 million during the quarter, compared to analysts’ expectations of $50.98 million. As a group, sell-side analysts forecast that NETSTREIT Corp. will post 1.19 EPS for the current fiscal year.

NETSTREIT Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Monday, March 16th will be paid a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 4.6%. This is a boost from NETSTREIT’s previous quarterly dividend of $0.22. The ex-dividend date is Monday, March 16th.

Analyst Ratings Changes

A number of research firms have commented on NTST. Truist Financial raised their target price on shares of NETSTREIT from $19.00 to $20.00 and gave the company a “buy” rating in a research report on Monday, November 17th. Mizuho dropped their price objective on shares of NETSTREIT from $20.00 to $19.00 and set an “outperform” rating on the stock in a research note on Wednesday, December 17th. Robert W. Baird lifted their price objective on shares of NETSTREIT from $20.00 to $21.00 and gave the company an “outperform” rating in a report on Tuesday, October 28th. Weiss Ratings reissued a “hold (c)” rating on shares of NETSTREIT in a research note on Monday, December 29th. Finally, Stifel Nicolaus increased their target price on NETSTREIT from $20.00 to $21.00 and gave the company a “buy” rating in a research report on Tuesday, October 28th. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, NETSTREIT currently has an average rating of “Moderate Buy” and a consensus target price of $20.45.

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.