Hudson Bay Capital Management LP Purchases 986,842 Shares of NETSTREIT Corp. $NTST

Hudson Bay Capital Management LP boosted its position in shares of NETSTREIT Corp. (NYSE:NTST) by 35.1% during the third quarter, HoldingsChannel reports. The institutional investor owned 3,794,639 shares of the company’s stock after purchasing an additional 986,842 shares during the period. NETSTREIT accounts for approximately 0.2% of Hudson Bay Capital Management LP’s portfolio, making the stock its 26th largest holding. Hudson Bay Capital Management LP’s holdings in NETSTREIT were worth $68,531,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. EverSource Wealth Advisors LLC lifted its holdings in shares of NETSTREIT by 1,123.3% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,786 shares of the company’s stock worth $30,000 after acquiring an additional 1,640 shares during the period. CWM LLC boosted its position in shares of NETSTREIT by 33.0% during the 3rd quarter. CWM LLC now owns 6,233 shares of the company’s stock worth $113,000 after acquiring an additional 1,546 shares in the last quarter. CIBC Private Wealth Group LLC increased its stake in 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 acquiring an additional 2,051 shares during the last quarter. Quadrant Capital Group LLC acquired a new position in NETSTREIT during the third quarter valued at approximately $159,000. Finally, CIBC Bancorp USA Inc. acquired a new position in NETSTREIT during the third quarter valued at approximately $183,000.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on NTST shares. BTIG Research raised their target price on NETSTREIT from $19.00 to $22.00 and gave the company a “buy” rating in a report on Tuesday, March 3rd. Weiss Ratings reiterated a “hold (c)” rating on shares of NETSTREIT in a research note on Monday, December 29th. Cantor Fitzgerald boosted their price target on NETSTREIT from $20.00 to $22.00 and gave the stock an “overweight” rating in a report on Tuesday, February 17th. UBS Group raised their price objective on NETSTREIT from $21.00 to $24.00 and gave the company a “buy” rating in a research note on Monday, March 9th. Finally, Scotiabank lifted their target price on NETSTREIT from $21.00 to $22.00 and gave the company a “sector outperform” rating in a research report on Monday, March 2nd. Eleven investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $21.50.

NETSTREIT Stock Performance

Shares of NETSTREIT stock opened at $19.86 on Thursday. NETSTREIT Corp. has a fifty-two week low of $14.00 and a fifty-two week high of $21.30. The company has a debt-to-equity ratio of 0.75, a current ratio of 3.12 and a quick ratio of 3.12. The firm has a market capitalization of $1.93 billion, a P/E ratio of 220.66, a P/E/G ratio of 3.13 and a beta of 0.86. The company’s 50 day moving average price is $19.45 and its two-hundred day moving average price is $18.59.

NETSTREIT (NYSE:NTST) last announced 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 0.51% and a net margin of 3.54%.The company had revenue of $52.50 million for the quarter, compared to analyst estimates of $50.98 million. On average, equities analysts forecast that NETSTREIT Corp. will post 1.19 earnings per share for the current fiscal year.

NETSTREIT Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Monday, March 16th will be issued a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 4.4%. The ex-dividend date of this dividend is Monday, March 16th. This is a boost from NETSTREIT’s previous quarterly dividend of $0.22. NETSTREIT’s payout ratio is currently 977.78%.

About NETSTREIT

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.