North Star Investment Management Corp. Acquires 47,000 Shares of NETSTREIT Corp. $NTST

North Star Investment Management Corp. bought a new position in NETSTREIT Corp. (NYSE:NTST) during the third quarter, Holdings Channel reports. The fund bought 47,000 shares of the company’s stock, valued at approximately $831,000.

A number of other institutional investors and hedge funds also recently modified their holdings of NTST. BlackRock Inc. purchased a new stake in shares of NETSTREIT during the second quarter valued at $404,780,000. Principal Financial Group Inc. boosted its position in shares of NETSTREIT by 3.4% in the 1st quarter. Principal Financial Group Inc. now owns 9,535,801 shares of the company’s stock valued at $179,560,000 after purchasing an additional 309,453 shares during the period. Bank of America Corp DE boosted its position in shares of NETSTREIT by 12.2% in the 1st quarter. Bank of America Corp DE now owns 3,433,461 shares of the company’s stock valued at $64,652,000 after purchasing an additional 372,337 shares during the period. Deutsche Bank AG acquired a new position in shares of NETSTREIT in the 2nd quarter valued at $44,589,000. Finally, Jupiter Topco LLC acquired a new position in shares of NETSTREIT in the 2nd quarter valued at $36,959,000.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on NTST shares. Wells Fargo & Company dropped their price target on NETSTREIT from $23.00 to $20.00 and set an “overweight” rating on the stock in a research note on Monday, October 19th. Stifel Nicolaus reduced their price objective on shares of NETSTREIT from $23.50 to $21.25 and set a “buy” rating for the company in a research note on Thursday, October 22nd. Citigroup reduced their price objective on shares of NETSTREIT from $21.00 to $18.50 and set a “neutral” rating for the company in a research note on Monday. Weiss Ratings upgraded shares of NETSTREIT from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, October 23rd. Finally, Scotiabank dropped their target price on shares of NETSTREIT from $22.00 to $20.00 and set a “sector outperform” rating on the stock in a research report on Thursday, September 24th. Thirteen equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $21.67.

NETSTREIT Trading Up 2.1%

NYSE NTST opened at $17.52 on Friday. The firm’s 50 day moving average price is $18.54 and its two-hundred day moving average price is $19.80. The company has a debt-to-equity ratio of 0.59, a quick ratio of 2.77 and a current ratio of 2.77. NETSTREIT Corp. has a twelve month low of $16.18 and a twelve month high of $22.47. The stock has a market cap of $2.20 billion, a price-to-earnings ratio of 79.66, a PEG ratio of 1.69 and a beta of 0.80.

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

NETSTREIT Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 15th. Stockholders of record on Tuesday, December 1st will be issued a dividend of $0.2250 per share. The ex-dividend date is Tuesday, December 1st. This represents a $0.90 dividend on an annualized basis and a dividend yield of 5.1%. NETSTREIT’s payout ratio is currently 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.