Sumitomo Mitsui Trust Group Inc. Sells 1,267,246 Shares of NETSTREIT Corp. $NTST

Key Points

• Sumitomo Mitsui Trust Group sold 1,267,246 shares of NETSTREIT, cutting its stake by 83.7% to 246,441 shares (about 0.29% of the company) worth $4.35 million at quarter-end.
• NETSTREIT missed quarterly EPS ($0.02 vs. $0.33 estimate) but beat on revenue, and recently raised its quarterly dividend to $0.22 (annualized $0.88) for a 4.2% yield while reporting a very high payout ratio of 977.78%.
• Analysts are broadly positive with a consensus rating of "Moderate Buy" and an average target of $21.77 (some targets up to $24), while the stock trades around $20.92 with a $2.03 billion market cap and a 52-week range of $15.23–$21.30.

Sumitomo Mitsui Trust Group Inc. decreased its holdings in NETSTREIT Corp. (NYSE:NTST - Free Report) by 83.7% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 246,441 shares of the company's stock after selling 1,267,246 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned 0.29% of NETSTREIT worth $4,347,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in NTST. EverSource Wealth Advisors LLC lifted its position in NETSTREIT by 1,123.3% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,786 shares of the company's stock valued at $30,000 after acquiring an additional 1,640 shares in the last quarter. CWM LLC lifted its position in 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 acquiring an additional 1,546 shares in the last quarter. CIBC Private Wealth Group LLC lifted its position in shares of NETSTREIT by 39.1% during the 3rd quarter. CIBC Private Wealth Group LLC now owns 7,299 shares of the company's stock worth $132,000 after buying an additional 2,051 shares in the last quarter. Quadrant Capital Group LLC bought a new position in shares of NETSTREIT during the 3rd quarter worth approximately $159,000. Finally, CIBC Bancorp USA Inc. bought a new position in shares of NETSTREIT during the 3rd quarter worth approximately $183,000.

NETSTREIT Price Performance

NETSTREIT stock opened at $20.92 on Friday. The company's 50 day moving average price is $19.94 and its two-hundred day moving average price is $18.81. The company has a quick ratio of 3.12, a current ratio of 3.12 and a debt-to-equity ratio of 0.75. NETSTREIT Corp. has a 52 week low of $15.23 and a 52 week high of $21.30. The stock has a market cap of $2.03 billion, a P/E ratio of 232.39, a P/E/G ratio of 3.18 and a beta of 0.88.

NETSTREIT (NYSE:NTST - Get Free Report) last issued its quarterly earnings results on Tuesday, February 10th. The company reported $0.02 earnings per share (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 for the quarter, compared to analysts' expectations of $50.98 million. On average, equities analysts predict that NETSTREIT Corp. will post 1.19 earnings per share for the current year.

NETSTREIT Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 31st. Stockholders of record on Monday, March 16th were paid a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 4.2%. The ex-dividend date was Monday, March 16th. This is an increase from NETSTREIT's previous quarterly dividend of $0.22. NETSTREIT's dividend payout ratio (DPR) is 977.78%.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on NTST shares. Raymond James Financial cut shares of NETSTREIT from a "strong-buy" rating to an "outperform" rating and lifted their target price for the stock from $21.00 to $22.00 in a research report on Tuesday, March 17th. Truist Financial lifted their target price on shares of NETSTREIT from $20.00 to $21.00 and gave the stock a "buy" rating in a research report on Monday, March 23rd. Scotiabank lifted their target price on shares of NETSTREIT from $21.00 to $22.00 and gave the stock a "sector outperform" rating in a research report on Monday, March 2nd. Weiss Ratings reissued a "hold (c)" rating on shares of NETSTREIT in a research report on Friday, March 27th. Finally, BMO Capital Markets started coverage on shares of NETSTREIT in a research report on Friday. They set an "outperform" rating and a $24.00 target price on the stock. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $21.77.

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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