AlphaQuest LLC Has $92,000 Position 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 trimmed its stake in NETSTREIT Corp. (NYSE:NTST - Free Report) by 94.7% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm 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 SEC.

Other institutional investors have also recently bought and sold shares of the company. Wedge Capital Management L L P NC purchased a new stake in NETSTREIT in the first quarter valued at approximately $2,389,000. Vanguard Group Inc. lifted its position in NETSTREIT by 4.0% during the first quarter. Vanguard Group Inc. now owns 8,275,681 shares of the company's stock valued at $131,170,000 after buying an additional 315,888 shares in the last quarter. Raymond James Financial Inc. acquired a new position in NETSTREIT during the fourth quarter valued at approximately $927,000. DigitalBridge Group Inc. lifted its position in NETSTREIT by 1,175.4% during the fourth quarter. DigitalBridge Group Inc. now owns 953,968 shares of the company's stock valued at $13,499,000 after buying an additional 879,168 shares in the last quarter. Finally, New Age Alpha Advisors LLC lifted its position in NETSTREIT by 173.5% during the first quarter. New Age Alpha Advisors LLC now owns 170,667 shares of the company's stock valued at $2,705,000 after buying an additional 108,274 shares in the last quarter.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on NTST. UBS Group lifted their price target on shares of NETSTREIT from $20.00 to $21.00 and gave the company a "buy" rating in a research report on Friday, August 15th. Wells Fargo & Company lifted their price target on shares of NETSTREIT from $18.00 to $20.00 and gave the company an "overweight" rating in a research report on Wednesday, August 27th. Truist Financial set a $19.00 price target on shares of NETSTREIT in a research report on Friday, July 25th. Bank of America raised shares of NETSTREIT from an "underperform" rating to a "neutral" rating and lifted their price target for the company from $18.00 to $19.00 in a research report on Monday, July 28th. Finally, Robert W. Baird boosted their target price on shares of NETSTREIT from $18.00 to $20.00 and gave the stock an "outperform" rating in a research report on Thursday, July 24th. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of "Buy" and an average target price of $19.58.

NETSTREIT Trading Up 0.5%

NTST stock traded up $0.09 during mid-day trading on Friday, reaching $17.95. 866,841 shares of the stock traded hands, compared to its average volume of 1,027,235. The company has a current ratio of 3.83, a quick ratio of 3.83 and a debt-to-equity ratio of 0.70. NETSTREIT Corp. has a 52-week low of $13.42 and a 52-week high of $19.18. The company has a market cap of $1.50 billion, a P/E ratio of -224.38, a P/E/G ratio of 4.04 and a beta of 0.89. The stock's fifty day moving average is $18.01 and its 200-day moving average is $16.47.

NETSTREIT Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Tuesday, September 2nd will be issued a $0.215 dividend. The ex-dividend date is Tuesday, September 2nd. This represents a $0.86 dividend on an annualized basis and a dividend yield of 4.8%. This is a positive change from NETSTREIT's previous quarterly dividend of $0.21. NETSTREIT's dividend payout ratio 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.