NETSTREIT (NYSE:NTST) Sees Large Volume Increase – What’s Next?

Shares of NETSTREIT Corp. (NYSE:NTST) saw unusually-high trading volume on Thursday . Approximately 1,632,095 shares traded hands during trading, an increase of 119% from the previous session’s volume of 745,650 shares.The stock last traded at $14.55 and had previously closed at $14.22.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on NTST shares. Mizuho dropped their target price on NETSTREIT from $17.00 to $15.00 and set an “outperform” rating on the stock in a report on Wednesday, January 8th. Raymond James cut their price objective on shares of NETSTREIT from $19.00 to $17.00 and set a “strong-buy” rating on the stock in a report on Friday, January 17th. UBS Group initiated coverage on shares of NETSTREIT in a report on Monday, October 14th. They issued a “buy” rating and a $19.00 target price for the company. Truist Financial cut their price target on shares of NETSTREIT from $20.00 to $19.00 and set a “buy” rating on the stock in a report on Thursday, December 5th. Finally, Stifel Nicolaus decreased their price objective on shares of NETSTREIT from $19.50 to $19.25 and set a “buy” rating for the company in a research note on Tuesday, November 5th. Two research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $17.75.

NETSTREIT Stock Down 1.0 %

The stock’s 50-day moving average price is $14.67 and its two-hundred day moving average price is $15.71. The company has a current ratio of 4.11, a quick ratio of 4.11 and a debt-to-equity ratio of 0.57. The stock has a market capitalization of $1.18 billion, a P/E ratio of -241.29 and a beta of 1.00.

NETSTREIT (NYSE:NTST) last issued its earnings results on Monday, November 4th. The company reported ($0.07) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.30 by ($0.37). The firm had revenue of $41.44 million during the quarter, compared to the consensus estimate of $41.10 million. NETSTREIT had a negative net margin of 2.96% and a negative return on equity of 0.35%. During the same quarter in the previous year, the firm earned $0.31 earnings per share. As a group, research analysts expect that NETSTREIT Corp. will post 1.19 earnings per share for the current fiscal year.

NETSTREIT Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 13th. Investors of record on Monday, December 2nd were issued a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 5.80%. The ex-dividend date was Monday, December 2nd. NETSTREIT’s dividend payout ratio (DPR) is presently -1,399.77%.

Institutional Investors Weigh In On NETSTREIT

A number of institutional investors and hedge funds have recently modified their holdings of NTST. Nordea Investment Management AB bought a new stake in NETSTREIT during the fourth quarter valued at approximately $6,714,000. JPMorgan Chase & Co. boosted its position in NETSTREIT by 173.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 569,527 shares of the company’s stock valued at $9,414,000 after buying an additional 361,577 shares during the period. Sumitomo Mitsui Trust Group Inc. grew its stake in shares of NETSTREIT by 1,931.7% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,615,264 shares of the company’s stock worth $26,700,000 after purchasing an additional 1,535,761 shares during the last quarter. Vestcor Inc bought a new stake in shares of NETSTREIT in the 3rd quarter worth approximately $913,000. Finally, Geode Capital Management LLC boosted its holdings in NETSTREIT by 6.0% in the third quarter. Geode Capital Management LLC now owns 1,980,800 shares of the company’s stock valued at $32,748,000 after acquiring an additional 112,047 shares in the last quarter.

NETSTREIT Company Profile

NETSTREIT Corp. is an internally managed real estate investment trust (REIT) based in Dallas, Texas that specializes in acquiring single-tenant net lease retail properties nationwide. The growing portfolio consists of high-quality properties leased to e-commerce resistant tenants with healthy balance sheets.