NETSTREIT Corp. $NTST Stock Sold by VIRGINIA RETIREMENT SYSTEMS ET Al

Key Points

• Virginia Retirement Systems reduced its NETSTREIT stake by 28.8% in the third quarter, selling 79,200 shares and retaining 195,578 shares valued at approximately $3.46 million.
• Analyst sentiment remains broadly positive, with 13 Buy ratings and one Hold rating. NETSTREIT has an average “Moderate Buy” rating and an average price target of $21.67.
• NETSTREIT reported quarterly revenue of $66.26 million but missed earnings expectations, posting $0.08 per share versus the $0.09 consensus estimate. The company declared a quarterly dividend of $0.225, representing a 5.0% annualized yield.

VIRGINIA RETIREMENT SYSTEMS ET Al trimmed its position in shares of NETSTREIT Corp. (NYSE:NTST - Free Report) by 28.8% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 195,578 shares of the company's stock after selling 79,200 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al owned approximately 0.16% of NETSTREIT worth $3,458,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the company. BlackRock Inc. acquired a new position in shares of NETSTREIT in the 2nd quarter valued at approximately $404,780,000. Bank of America Corp DE acquired a new stake in shares of NETSTREIT during the 2nd quarter worth approximately $63,046,000. Deutsche Bank AG acquired a new stake in shares of NETSTREIT during the 2nd quarter worth approximately $44,589,000. Jupiter Topco LLC bought a new position in NETSTREIT in the second quarter valued at approximately $36,959,000. Finally, Bank of New York Mellon Corp bought a new position in NETSTREIT in the second quarter valued at approximately $23,844,000.

Analyst Ratings Changes

Several research analysts have commented on NTST shares. Jefferies Financial Group restated a "buy" rating and set a $25.00 price objective on shares of NETSTREIT in a research report on Wednesday, July 29th. Citigroup reduced their target price on NETSTREIT from $21.00 to $18.50 and set a "neutral" rating on the stock in a report on Monday, October 26th. BMO Capital Markets raised their target price on NETSTREIT from $24.00 to $25.00 and gave the company an "outperform" rating in a report on Monday, July 20th. Stifel Nicolaus decreased their price target on NETSTREIT from $23.50 to $21.25 and set a "buy" rating on the stock in a research note on Thursday, October 22nd. Finally, Weiss Ratings raised NETSTREIT from a "hold (c+)" rating to a "buy (b-)" rating in a report on Friday, October 23rd. Thirteen research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $21.67.

NETSTREIT Price Performance

Shares of NYSE:NTST opened at $17.97 on Tuesday. NETSTREIT Corp. has a one year low of $16.18 and a one year high of $22.47. The company has a debt-to-equity ratio of 0.59, a current ratio of 2.77 and a quick ratio of 2.77. The company has a market cap of $2.26 billion, a price-to-earnings ratio of 81.67, a PEG ratio of 1.69 and a beta of 0.80. The firm has a 50 day simple moving average of $18.43 and a 200 day simple moving average of $19.80.

NETSTREIT (NYSE:NTST - Get Free Report) last posted its earnings results on Wednesday, October 21st. The company reported $0.08 earnings per share for the quarter, missing analysts' consensus estimates of $0.09 by ($0.01). The company had revenue of $66.26 million for the quarter, compared to the consensus estimate of $60.55 million. NETSTREIT had a return on equity of 1.33% and a net margin of 9.18%. Research analysts predict that NETSTREIT Corp. will post 1.29 earnings per share for the current fiscal year.

NETSTREIT Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 15th. Stockholders of record on Tuesday, December 1st will be paid a $0.2250 dividend. This represents a $0.90 dividend on an annualized basis and a dividend yield of 5.0%. The ex-dividend date is Tuesday, December 1st. NETSTREIT's dividend payout ratio is presently 409.09%.

About NETSTREIT

NETSTREIT Corp. is a real estate investment trust focused on owning and managing outpatient healthcare properties in the United States. The company invests primarily in facilities that provide essential medical services, including physician offices, ambulatory care centers and other outpatient healthcare locations.

NETSTREIT generally leases its properties to healthcare providers under long-term, triple-net lease agreements. Under these arrangements, tenants typically assume responsibility for property taxes, insurance and maintenance expenses.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.