NETSTREIT Corp. (NYSE:NTST) Shares Sold by Cornercap Investment Counsel Inc.

Cornercap Investment Counsel Inc. trimmed its stake in shares of NETSTREIT Corp. (NYSE:NTST) by 49.7% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 22,126 shares of the company’s stock after selling 21,819 shares during the period. Cornercap Investment Counsel Inc.’s holdings in NETSTREIT were worth $366,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in NTST. Quarry LP purchased a new stake in shares of NETSTREIT during the 2nd quarter worth about $45,000. Point72 DIFC Ltd purchased a new position in NETSTREIT during the second quarter worth approximately $83,000. Custom Index Systems LLC purchased a new position in NETSTREIT during the third quarter worth approximately $170,000. M&G PLC purchased a new position in NETSTREIT during the third quarter worth approximately $173,000. Finally, Van ECK Associates Corp boosted its position in NETSTREIT by 13.7% during the second quarter. Van ECK Associates Corp now owns 11,280 shares of the company’s stock worth $182,000 after purchasing an additional 1,359 shares in the last quarter.

NETSTREIT Trading Down 0.1 %

Shares of NTST opened at $15.45 on Monday. The company has a current ratio of 4.11, a quick ratio of 4.11 and a debt-to-equity ratio of 0.57. NETSTREIT Corp. has a 12-month low of $15.02 and a 12-month high of $18.97. The firm has a 50-day moving average price of $16.11 and a 200 day moving average price of $16.55. The firm has a market capitalization of $1.26 billion, a P/E ratio of -257.46 and a beta of 0.97.

NETSTREIT (NYSE:NTST) last announced its quarterly earnings data on Monday, November 4th. The company reported ($0.07) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.37). NETSTREIT had a negative net margin of 2.96% and a negative return on equity of 0.35%. The firm had revenue of $41.44 million during the quarter, compared to analysts’ expectations of $41.10 million. During the same period in the prior year, the company posted $0.31 EPS. Sell-side analysts forecast that NETSTREIT Corp. will post 1.19 EPS for the current year.

NETSTREIT Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Monday, December 2nd will be issued a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 5.44%. The ex-dividend date of this dividend is Monday, December 2nd. NETSTREIT’s dividend payout ratio is currently -1,399.77%.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the stock. Raymond James raised shares of NETSTREIT from an “outperform” rating to a “strong-buy” rating and cut their price target for the stock from $20.00 to $19.00 in a report on Wednesday, August 21st. Stifel Nicolaus reduced their price objective on shares of NETSTREIT from $19.50 to $19.25 and set a “buy” rating for the company in a research report on Tuesday, November 5th. Wedbush initiated coverage on shares of NETSTREIT in a research report on Monday, August 19th. They set a “neutral” rating and a $17.00 price objective for the company. UBS Group initiated coverage on shares of NETSTREIT in a research report on Monday, October 14th. They set a “buy” rating and a $19.00 price objective for the company. Finally, Scotiabank upgraded shares of NETSTREIT from a “sector perform” rating to a “sector outperform” rating and upped their price objective for the stock from $16.00 to $18.00 in a research report on Monday, November 11th. Three research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $18.30.

About NETSTREIT

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.