Versor Investments LP Buys New Position in NETSTREIT Corp. $NTST

Key Points

• Versor Investments LP has acquired a new stake in NETSTREIT Corp. valued at approximately $533,000 during the first quarter, acquiring 33,600 shares of stock.
• NETSTREIT recently declared a quarterly dividend of $0.215 per share, increasing from its previous dividend of $0.21, representing an annualized yield of 4.6%.
• Analyst ratings for NETSTREIT are largely positive, with a consensus rating of "Buy" and a target price around $19.14, indicating strong market confidence.

Versor Investments LP acquired a new stake in NETSTREIT Corp. (NYSE:NTST - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 33,600 shares of the company's stock, valued at approximately $533,000.

Several other large investors also recently bought and sold shares of NTST. LPL Financial LLC purchased a new stake in NETSTREIT during the 4th quarter worth approximately $236,000. Wells Fargo & Company MN raised its holdings in NETSTREIT by 37.4% in the 4th quarter. Wells Fargo & Company MN now owns 178,146 shares of the company's stock valued at $2,521,000 after acquiring an additional 48,521 shares during the last quarter. Envestnet Asset Management Inc. raised its holdings in NETSTREIT by 520.3% in the 4th quarter. Envestnet Asset Management Inc. now owns 154,408 shares of the company's stock valued at $2,185,000 after acquiring an additional 129,516 shares during the last quarter. Renaissance Technologies LLC acquired a new stake in NETSTREIT in the 4th quarter valued at about $2,322,000. Finally, Raymond James Financial Inc. acquired a new stake in NETSTREIT in the 4th quarter valued at about $927,000.

Analyst Upgrades and Downgrades

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

NETSTREIT Trading Down 2.2%

NYSE NTST traded down $0.4080 during trading hours on Friday, reaching $18.4720. The company had a trading volume of 1,714,218 shares, compared to its average volume of 1,410,775. The stock has a 50-day moving average of $17.75 and a 200 day moving average of $16.23. NETSTREIT Corp. has a 1-year low of $13.42 and a 1-year high of $19.18. The company has a current ratio of 3.83, a quick ratio of 3.83 and a debt-to-equity ratio of 0.70. The stock has a market capitalization of $1.54 billion, a P/E ratio of -230.90, a price-to-earnings-growth ratio of 4.33 and a beta of 0.89.

NETSTREIT Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Tuesday, September 2nd will be given a $0.215 dividend. The ex-dividend date of this dividend is Tuesday, September 2nd. This is an increase from NETSTREIT's previous quarterly dividend of $0.21. This represents a $0.86 dividend on an annualized basis and a yield of 4.7%. NETSTREIT's dividend payout ratio is currently -1,050.00%.

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.