NETSTREIT Corp. $NTST Shares Bought by Quantbot Technologies LP

Key Points

• Quantbot Technologies LP increased its stake in NETSTREIT Corp. by 53.3%, holding 154,357 shares valued at approximately $2.45 million as of the last reporting period.
• NETSTREIT announced a quarterly dividend increase to $0.215, up from the previous $0.21, reflecting a 4.5% dividend yield for shareholders.
• Research analysts have expressed positive sentiment regarding NETSTREIT, with multiple firms raising their price targets and a consensus rating of "Buy."

Quantbot Technologies LP raised its position in shares of NETSTREIT Corp. (NYSE:NTST - Free Report) by 53.3% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 154,357 shares of the company's stock after buying an additional 53,658 shares during the quarter. Quantbot Technologies LP owned about 0.19% of NETSTREIT worth $2,447,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of NTST. Principal Financial Group Inc. lifted its position in shares of NETSTREIT by 61.3% during the first quarter. Principal Financial Group Inc. now owns 7,741,808 shares of the company's stock valued at $122,708,000 after buying an additional 2,941,600 shares during the last quarter. Nuveen LLC purchased a new stake in shares of NETSTREIT during the first quarter valued at about $18,181,000. Hudson Bay Capital Management LP lifted its position in shares of NETSTREIT by 195.9% during the fourth quarter. Hudson Bay Capital Management LP now owns 1,338,746 shares of the company's stock valued at $18,943,000 after buying an additional 886,283 shares during the last quarter. DigitalBridge Group Inc. lifted its position in shares of NETSTREIT by 1,175.4% during the fourth quarter. DigitalBridge Group Inc. now owns 953,968 shares of the company's stock valued at $13,499,000 after buying an additional 879,168 shares during the last quarter. Finally, Deprince Race & Zollo Inc. lifted 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.

NETSTREIT Stock Performance

Shares of NETSTREIT stock traded down $0.11 during midday trading on Tuesday, hitting $18.35. The company had a trading volume of 137,702 shares, compared to its average volume of 1,019,022. The stock has a market cap of $1.53 billion, a price-to-earnings ratio of -229.56, a PEG ratio of 4.25 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 company has a fifty day simple moving average of $17.79 and a 200 day simple moving average of $16.28. NETSTREIT Corp. has a 12-month low of $13.42 and a 12-month high of $19.18.

NETSTREIT Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Tuesday, September 2nd will be given a $0.215 dividend. This represents a $0.86 annualized dividend and a dividend yield of 4.7%. The ex-dividend date of this dividend is Tuesday, September 2nd. This is an increase from NETSTREIT's previous quarterly dividend of $0.21. NETSTREIT's payout ratio is -1,075.00%.

Wall Street Analyst Weigh In

Several research firms have commented on NTST. Robert W. Baird increased their price target on shares of NETSTREIT from $18.00 to $20.00 and gave the company an "outperform" rating in a research report on Thursday, July 24th. Truist Financial set a $19.00 price target on shares of NETSTREIT in a research report on Friday, July 25th. UBS Group increased their price target on shares of NETSTREIT from $20.00 to $21.00 and gave the company a "buy" rating in a research report on Friday, August 15th. Raymond James Financial reaffirmed a "strong-buy" rating and issued a $21.00 price objective on shares of NETSTREIT in a research report on Wednesday, July 30th. Finally, Bank of America raised shares of NETSTREIT from an "underperform" rating to a "neutral" rating and increased their price objective for the company from $18.00 to $19.00 in a research report on Monday, July 28th. Two investment analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus target price of $19.14.

NETSTREIT Company 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.