NETSTREIT Corp. (NYSE:NTST) Shares Sold by GSA Capital Partners LLP

Key Points

• GSA Capital Partners LLP sold 49,118 shares of NETSTREIT Corp., reducing its stake by 44.6%, and now holds approximately 0.07% of the company valued at $968,000.
• NETSTREIT announced an increase in its quarterly dividend to $0.215 per share, representing a 4.7% dividend yield and a shift from the previous dividend of $0.21.
• Analysts have a consensus rating of “Buy” for NETSTREIT, with UBS increasing its price target from $18.00 to $20.00.

GSA Capital Partners LLP lessened its stake in NETSTREIT Corp. (NYSE:NTST - Free Report) by 44.6% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 61,068 shares of the company's stock after selling 49,118 shares during the quarter. GSA Capital Partners LLP owned 0.07% of NETSTREIT worth $968,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the stock. Principal Financial Group Inc. boosted its position in shares of NETSTREIT by 61.3% in the 1st quarter. Principal Financial Group Inc. now owns 7,741,808 shares of the company's stock worth $122,708,000 after buying an additional 2,941,600 shares in the last quarter. Hudson Bay Capital Management LP boosted its position in shares of NETSTREIT by 195.9% in the 4th quarter. Hudson Bay Capital Management LP now owns 1,338,746 shares of the company's stock worth $18,943,000 after buying an additional 886,283 shares in the last quarter. DigitalBridge Group Inc. boosted its position in shares of NETSTREIT by 1,175.4% in the 4th quarter. DigitalBridge Group Inc. now owns 953,968 shares of the company's stock worth $13,499,000 after buying an additional 879,168 shares in the last quarter. Lasalle Investment Management Securities LLC raised its stake in NETSTREIT by 30.8% in the 4th quarter. Lasalle Investment Management Securities LLC now owns 3,449,229 shares of the company's stock valued at $48,807,000 after purchasing an additional 811,632 shares during the last quarter. Finally, Deprince Race & Zollo Inc. raised its stake in NETSTREIT by 30.9% in the 4th quarter. Deprince Race & Zollo Inc. now owns 3,044,157 shares of the company's stock valued at $43,075,000 after purchasing an additional 718,193 shares during the last quarter.

NETSTREIT Stock Up 0.4%

Shares of NETSTREIT stock traded up $0.08 on Friday, hitting $18.31. 2,137,113 shares of the company's stock traded hands, compared to its average volume of 1,599,981. The stock has a market cap of $1.53 billion, a P/E ratio of -228.88, a PEG ratio of 4.19 and a beta of 0.89. The company has a quick ratio of 3.83, a current ratio of 3.83 and a debt-to-equity ratio of 0.70. The firm's 50-day moving average is $16.99 and its 200 day moving average is $15.79. NETSTREIT Corp. has a 52-week low of $13.42 and a 52-week high of $18.93.

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 paid a dividend of $0.215 per share. This represents a $0.86 annualized dividend and a yield of 4.7%. 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 -1,050.00%.

Wall Street Analysts Forecast Growth

NTST has been the subject of several analyst reports. Raymond James Financial reissued a "strong-buy" rating and issued a $21.00 target price on shares of NETSTREIT in a research note on Wednesday. Robert W. Baird boosted their target price on shares of NETSTREIT from $18.00 to $20.00 and gave the company an "outperform" rating in a research note on Thursday, July 24th. Wells Fargo & Company initiated coverage on shares of NETSTREIT in a research note on Monday, April 7th. They issued an "overweight" rating and a $18.00 target price for the company. UBS Group boosted their target price on shares of NETSTREIT from $18.00 to $20.00 and gave the company a "buy" rating in a research note on Wednesday, July 16th. Finally, Bank of America raised shares of NETSTREIT from an "underperform" rating to a "neutral" rating and upped their price objective for the company from $18.00 to $19.00 in a research note on Monday. Two equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Buy" and an average price target of $18.83.

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.