AlphaQuest LLC Trims Stock Holdings in NETSTREIT Corp. $NTST

Key Points

• AlphaQuest LLC significantly decreased its holdings in NETSTREIT Corp. by 94.7%, now owning 5,796 shares worth $92,000 after selling 103,786 shares in the first quarter.
• NETSTREIT has announced an increase in its quarterly dividend to $0.215, up from $0.21, resulting in an annualized dividend yield of 4.8%.
• Analysts have a consensus "Buy" rating on NETSTREIT shares, with a price target averaging $19.58, as several firms including UBS Group and Bank of America recently upgraded their ratings.

AlphaQuest LLC cut its position in shares of NETSTREIT Corp. (NYSE:NTST - Free Report) by 94.7% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 5,796 shares of the company's stock after selling 103,786 shares during the quarter. AlphaQuest LLC's holdings in NETSTREIT were worth $92,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in NTST. Principal Financial Group Inc. boosted its position in shares of NETSTREIT by 61.3% during the first quarter. Principal Financial Group Inc. now owns 7,741,808 shares of the company's stock valued at $122,708,000 after purchasing an additional 2,941,600 shares in the last quarter. Nuveen LLC bought a new stake in NETSTREIT in the first quarter worth $18,181,000. Hudson Bay Capital Management LP boosted its holdings in NETSTREIT by 195.9% in the fourth quarter. Hudson Bay Capital Management LP now owns 1,338,746 shares of the company's stock worth $18,943,000 after acquiring an additional 886,283 shares in the last quarter. DigitalBridge Group Inc. boosted its holdings in NETSTREIT by 1,175.4% in the fourth quarter. DigitalBridge Group Inc. now owns 953,968 shares of the company's stock worth $13,499,000 after acquiring an additional 879,168 shares in the last quarter. Finally, Deprince Race & Zollo Inc. boosted its holdings in NETSTREIT by 30.9% in the fourth quarter. Deprince Race & Zollo Inc. now owns 3,044,157 shares of the company's stock worth $43,075,000 after acquiring an additional 718,193 shares in the last quarter.

Analyst Upgrades and Downgrades

NTST has been the topic of several analyst reports. Scotiabank reissued an "outperform" rating on shares of NETSTREIT in a report on Wednesday, August 27th. Wells Fargo & Company boosted their target price on NETSTREIT from $18.00 to $20.00 and gave the stock an "overweight" rating in a report on Wednesday, August 27th. Raymond James Financial reissued a "strong-buy" rating and issued a $21.00 target price on shares of NETSTREIT in a report on Wednesday, July 30th. Robert W. Baird boosted their target price on NETSTREIT from $18.00 to $20.00 and gave the stock an "outperform" rating in a report on Thursday, July 24th. Finally, Bank of America raised NETSTREIT from an "underperform" rating to a "neutral" rating and boosted their target price for the stock from $18.00 to $19.00 in a report on Monday, July 28th. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus target price of $19.58.

NETSTREIT Stock Up 0.5%

Shares of NTST stock traded up $0.09 during mid-day trading on Friday, hitting $17.95. The company's stock had a trading volume of 866,841 shares, compared to its average volume of 967,105. NETSTREIT Corp. has a 52-week low of $13.42 and a 52-week high of $19.18. The business has a 50-day moving average price of $18.04 and a 200 day moving average price of $16.53. The company has a debt-to-equity ratio of 0.70, a quick ratio of 3.83 and a current ratio of 3.83. The stock has a market cap of $1.50 billion, a price-to-earnings ratio of -224.38, a PEG ratio of 4.13 and a beta of 0.89.

NETSTREIT Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Tuesday, September 2nd will be given a dividend of $0.215 per share. This represents a $0.86 dividend on an annualized basis and a yield of 4.8%. This is a boost from NETSTREIT's previous quarterly dividend of $0.21. The ex-dividend date is Tuesday, September 2nd. NETSTREIT's dividend payout ratio (DPR) is currently -1,075.00%.

NETSTREIT 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.