Hsbc Holdings PLC Boosts Holdings in NETSTREIT Corp. $NTST

Key Points

• Hsbc Holdings PLC has increased its stake in NETSTREIT Corp. by 79.8%, acquiring 60,609 additional shares, bringing its total ownership to 136,582 shares valued at approximately $2.17 million.
• NETSTREIT Corp. recently declared a quarterly dividend of $0.215 per share, an increase from its previous dividend, representing a dividend yield of 4.7%.
• Multiple brokerages have issued positive ratings on NETSTREIT, with a consensus price target of $19.58 and several analysts recommending a "Buy" or "Strong Buy" rating.

Hsbc Holdings PLC boosted its position in shares of NETSTREIT Corp. (NYSE:NTST - Free Report) by 79.8% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 136,582 shares of the company's stock after acquiring an additional 60,609 shares during the period. Hsbc Holdings PLC owned 0.17% of NETSTREIT worth $2,168,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in NETSTREIT by 4.0% during the 1st quarter. Vanguard Group Inc. now owns 8,275,681 shares of the company's stock worth $131,170,000 after acquiring an additional 315,888 shares during the period. Principal Financial Group Inc. raised its stake in NETSTREIT by 61.3% during the 1st quarter. Principal Financial Group Inc. now owns 7,741,808 shares of the company's stock worth $122,708,000 after acquiring an additional 2,941,600 shares during the period. Deprince Race & Zollo Inc. raised its position in shares of NETSTREIT by 30.9% during the fourth quarter. Deprince Race & Zollo Inc. now owns 3,044,157 shares of the company's stock valued at $43,075,000 after buying an additional 718,193 shares during the last quarter. Balyasny Asset Management L.P. raised its position in shares of NETSTREIT by 0.8% during the fourth quarter. Balyasny Asset Management L.P. now owns 2,553,669 shares of the company's stock valued at $36,134,000 after buying an additional 20,215 shares during the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. raised its position in shares of NETSTREIT by 8.2% during the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,389,583 shares of the company's stock valued at $37,875,000 after buying an additional 181,880 shares during the last quarter.

NETSTREIT Trading Down 2.5%

NYSE NTST traded down $0.46 on Tuesday, hitting $17.83. 1,066,676 shares of the stock were exchanged, compared to its average volume of 986,495. 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 fifty day moving average price of $17.97 and a two-hundred day moving average price of $16.44. The firm has a market capitalization of $1.49 billion, a P/E ratio of -222.84, a P/E/G ratio of 4.20 and a beta of 0.89. NETSTREIT Corp. has a 52-week low of $13.42 and a 52-week high of $19.18.

NETSTREIT Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Tuesday, September 2nd will be paid a dividend of $0.215 per share. The ex-dividend date of this dividend is Tuesday, September 2nd. This is a positive change from NETSTREIT's previous quarterly dividend of $0.21. This represents a $0.86 annualized dividend and a yield of 4.8%. NETSTREIT's payout ratio is presently -1,050.00%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. Wells Fargo & Company lifted their price objective 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. Raymond James Financial restated a "strong-buy" rating and issued a $21.00 price target on shares of NETSTREIT in a research report on Wednesday, July 30th. Bank of America upgraded shares of NETSTREIT from an "underperform" rating to a "neutral" rating and boosted their price target for the stock from $18.00 to $19.00 in a research report on Monday, July 28th. Robert W. Baird boosted their price target 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. Finally, Truist Financial set a $19.00 price target on shares of NETSTREIT in a research report on Friday, July 25th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has given a Hold rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Buy" and a consensus target price of $19.58.

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.