Bank of America Corp DE Buys Shares of 2,983,697 NETSTREIT Corp. $NTST

Key Points

• Bank of America acquired 2,983,697 NETSTREIT shares in the second quarter, worth approximately $63 million, giving it a 2.94% stake.
• NETSTREIT reported quarterly revenue of $61.28 million, exceeding estimates, but EPS of $0.06 fell short of the $0.08 consensus. The stock opened at $18.20, below its 12-month high of $22.47.
• Analysts maintain a generally positive view, with 13 Buy ratings and two Holds, producing a “Moderate Buy” consensus and an average price target of $22.96; the company’s dividend yields about 4.9%.

Bank of America Corp DE bought a new position in NETSTREIT Corp. (NYSE:NTST - Free Report) in the 2nd quarter, according to its most recent filing with the SEC. The institutional investor bought 2,983,697 shares of the company's stock, valued at approximately $63,046,000. Bank of America Corp DE owned 2.94% of NETSTREIT at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Parallel Advisors LLC increased its position in NETSTREIT by 175.2% during the 1st quarter. Parallel Advisors LLC now owns 3,680 shares of the company's stock valued at $69,000 after purchasing an additional 2,343 shares during the period. KBC Group NV purchased a new stake in NETSTREIT during the first quarter worth $78,000. PNC Financial Services Group Inc. boosted its position in NETSTREIT by 13.8% during the 1st quarter. PNC Financial Services Group Inc. now owns 4,539 shares of the company's stock valued at $85,000 after acquiring an additional 549 shares in the last quarter. Ieq Capital LLC purchased a new position in shares of NETSTREIT in the 2nd quarter valued at $208,000. Finally, Caxton Associates LLP increased its holdings in shares of NETSTREIT by 25.0% in the 1st quarter. Caxton Associates LLP now owns 14,085 shares of the company's stock valued at $265,000 after acquiring an additional 2,813 shares during the period.

NETSTREIT Price Performance

Shares of NETSTREIT stock opened at $18.20 on Friday. The firm has a market cap of $1.85 billion, a PE ratio of 121.34, a P/E/G ratio of 2.36 and a beta of 0.80. NETSTREIT Corp. has a twelve month low of $17.02 and a twelve month high of $22.47. The business has a 50-day moving average price of $20.69 and a 200 day moving average price of $20.42. The company has a quick ratio of 3.54, a current ratio of 3.55 and a debt-to-equity ratio of 0.88.

NETSTREIT (NYSE:NTST - Get Free Report) last released its earnings results on Wednesday, July 22nd. The company reported $0.06 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.08 by ($0.02). The business had revenue of $61.28 million for the quarter, compared to analysts' expectations of $56.41 million. NETSTREIT had a return on equity of 0.95% and a net margin of 6.35%.NETSTREIT has set its FY 2026 guidance at 1.370-1.390 EPS. Sell-side analysts predict that NETSTREIT Corp. will post 1.3 earnings per share for the current fiscal year.

NETSTREIT Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 15th. Stockholders of record on Tuesday, September 1st were given a dividend of $0.225 per share. This represents a $0.90 annualized dividend and a dividend yield of 4.9%. The ex-dividend date of this dividend was Tuesday, September 1st. NETSTREIT's dividend payout ratio is currently 600.00%.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on NTST shares. Cantor Fitzgerald lifted their target price on NETSTREIT from $24.00 to $25.00 and gave the company an "overweight" rating in a research note on Tuesday, July 28th. Weiss Ratings restated a "hold (c+)" rating on shares of NETSTREIT in a research note on Friday, August 7th. Mizuho decreased their target price on NETSTREIT from $23.00 to $20.00 and set an "outperform" rating for the company in a report on Thursday. Stifel Nicolaus upped their target price on NETSTREIT from $22.25 to $23.50 and gave the company a "buy" rating in a research report on Thursday, July 23rd. Finally, UBS Group set a $22.00 price target on shares of NETSTREIT in a report on Thursday, June 18th. Thirteen equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $22.96.

About NETSTREIT

NETSTREIT Corp. is a real estate investment trust (REIT) focused on owning and managing healthcare real estate in the United States. The company primarily invests in outpatient medical office properties that support essential healthcare services, including clinics, physician practices, specialty care facilities and other medical providers.

NETSTREIT generally leases its properties to healthcare systems, physician groups and other medical operators under long-term, net lease arrangements.

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