DigitalBridge Group Inc. Sells 97,612 Shares of NETSTREIT Corp. $NTST

Key Points

• DigitalBridge trimmed its NETSTREIT stake by 13.2%$11.56M or 0.77% of the company).
• NETSTREIT declared a quarterly dividend of $0.22 (annualized $0.88) for a ~4.4% yield, while reporting an outsized payout ratio of 977.78%, indicating dividends far exceed reported earnings.
• The company missed quarterly EPS expectations ($0.02 vs. $0.33 est.) but topped revenue estimates ($52.5M vs. $50.98M), and analysts maintain a generally positive view with a consensus target of $21.50 ("Moderate Buy").

DigitalBridge Group Inc. trimmed its holdings in shares of NETSTREIT Corp. (NYSE:NTST - Free Report) by 13.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 639,817 shares of the company's stock after selling 97,612 shares during the quarter. DigitalBridge Group Inc. owned 0.77% of NETSTREIT worth $11,555,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the business. EverSource Wealth Advisors LLC increased its stake in NETSTREIT by 1,123.3% during the second quarter. EverSource Wealth Advisors LLC now owns 1,786 shares of the company's stock worth $30,000 after acquiring an additional 1,640 shares during the last quarter. CWM LLC lifted its stake in shares of NETSTREIT by 33.0% in the 3rd quarter. CWM LLC now owns 6,233 shares of the company's stock valued at $113,000 after purchasing an additional 1,546 shares during the last quarter. Quadrant Capital Group LLC purchased a new position in shares of NETSTREIT in the 3rd quarter worth approximately $159,000. Bayesian Capital Management LP bought a new position in shares of NETSTREIT during the 2nd quarter valued at approximately $185,000. Finally, Boothbay Fund Management LLC bought a new position in shares of NETSTREIT during the 3rd quarter valued at approximately $196,000.

NETSTREIT Stock Down 0.2%

NYSE:NTST opened at $20.09 on Wednesday. The company has a market cap of $1.95 billion, a price-to-earnings ratio of 223.24, a price-to-earnings-growth ratio of 3.13 and a beta of 0.86. NETSTREIT Corp. has a twelve month low of $14.00 and a twelve month high of $21.30. The company has a current ratio of 3.12, a quick ratio of 3.12 and a debt-to-equity ratio of 0.75. The stock has a fifty day simple moving average of $19.40 and a 200-day simple moving average of $18.58.

NETSTREIT (NYSE:NTST - Get Free Report) last posted its quarterly earnings results on Tuesday, February 10th. The company reported $0.02 EPS for the quarter, missing the consensus estimate of $0.33 by ($0.31). NETSTREIT had a return on equity of 0.51% and a net margin of 3.54%.The company had revenue of $52.50 million during the quarter, compared to analysts' expectations of $50.98 million. Analysts anticipate that NETSTREIT Corp. will post 1.19 EPS for the current year.

NETSTREIT Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Monday, March 16th will be paid a dividend of $0.22 per share. This is a boost from NETSTREIT's previous quarterly dividend of $0.22. This represents a $0.88 annualized dividend and a dividend yield of 4.4%. The ex-dividend date of this dividend is Monday, March 16th. NETSTREIT's payout ratio is presently 977.78%.

Analyst Ratings Changes

Several research analysts have commented on NTST shares. Raymond James Financial lowered shares of NETSTREIT from a "strong-buy" rating to an "outperform" rating and lifted their price objective for the stock from $21.00 to $22.00 in a research note on Tuesday. Mizuho raised their target price on shares of NETSTREIT from $19.00 to $23.00 and gave the stock an "outperform" rating in a report on Wednesday, March 11th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of NETSTREIT in a research note on Monday, December 29th. BTIG Research upped their price target on shares of NETSTREIT from $19.00 to $22.00 and gave the company a "buy" rating in a report on Tuesday, March 3rd. Finally, Scotiabank raised their price objective on shares of NETSTREIT from $21.00 to $22.00 and gave the stock a "sector outperform" rating in a research note on Monday, March 2nd. Eleven analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. Based on data from MarketBeat, NETSTREIT currently has an average rating of "Moderate Buy" and a consensus target price of $21.50.

NETSTREIT Company Profile

NetSTREIT Corp. is a real estate investment trust that specializes in the acquisition and management of single‐tenant, net lease retail properties across the United States. The company targets assets leased to investment‐grade or creditworthy tenants under long‐term, triple‐net leases, which generally shift property‐level expenses—such as taxes, insurance and maintenance—to the tenant. This business model is designed to generate predictable, stable income streams and to limit landlord responsibilities.

NetSTREIT’s portfolio encompasses a diversified mix of essential retail and service properties, including quick‐service restaurants, convenience stores, banks, automotive service centers and medical clinics.

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