NETSTREIT Corp. (NYSE:NTST) Short Interest Update

Key Points

• NETSTREIT Corp. experienced a significant increase in short interest, rising by 103.4% in July, with a current total of 17,310,000 shares sold short, indicating 20.9% of its shares are shorted.
• Several institutional investors have expanded their stakes in NETSTREIT, with Vanguard Group increasing its position by 4.0% and Principal Financial Group growing its stake by 61.3% in the first quarter.
• NETSTREIT is raising its quarterly dividend to $0.215 per share, signaling a positive shift from the previous $0.21 dividend, equating to an annualized yield of 4.6%.

NETSTREIT Corp. (NYSE:NTST - Get Free Report) was the recipient of a large growth in short interest in the month of July. As of July 31st, there was short interest totaling 17,310,000 shares, agrowthof103.4% from the July 15th total of 8,510,000 shares. Based on an average trading volume of 1,160,000 shares, the short-interest ratio is presently 14.9 days. Currently,20.9% of the company's shares are sold short. Currently,20.9% of the company's shares are sold short. Based on an average trading volume of 1,160,000 shares, the short-interest ratio is presently 14.9 days.

Institutional Trading of NETSTREIT

A number of institutional investors and hedge funds have recently made changes to their positions in NTST. Vanguard Group Inc. grew its stake in shares of NETSTREIT by 4.0% in the 1st quarter. Vanguard Group Inc. now owns 8,275,681 shares of the company's stock valued at $131,170,000 after purchasing an additional 315,888 shares during the period. Principal Financial Group Inc. grew its position 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 last quarter. T. Rowe Price Investment Management Inc. grew its position in NETSTREIT by 5.5% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 6,834,118 shares of the company's stock worth $96,703,000 after acquiring an additional 354,973 shares during the last quarter. Lasalle Investment Management Securities LLC grew its position in NETSTREIT by 13.8% during the 2nd quarter. Lasalle Investment Management Securities LLC now owns 3,836,565 shares of the company's stock worth $64,953,000 after acquiring an additional 464,980 shares during the last quarter. Finally, Deprince Race & Zollo Inc. grew its position in NETSTREIT by 30.9% during the 4th quarter. Deprince Race & Zollo Inc. now owns 3,044,157 shares of the company's stock worth $43,075,000 after acquiring an additional 718,193 shares during the last quarter.

Analysts Set New Price Targets

A number of research firms have recently commented on NTST. Bank of America raised shares of NETSTREIT from an "underperform" rating to a "neutral" rating and upped their target price for the company from $18.00 to $19.00 in a report on Monday, July 28th. UBS Group increased their price target on shares of NETSTREIT from $20.00 to $21.00 and gave the stock a "buy" rating in a research report on Friday. Robert W. Baird raised their target price 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. Raymond James Financial restated a "strong-buy" rating and issued a $21.00 price target on shares of NETSTREIT in a report on Wednesday, July 30th. Finally, Truist Financial set a $19.00 price objective on shares of NETSTREIT in a research report on Friday, July 25th. Two investment analysts have rated the stock with a hold rating, seven have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, NETSTREIT has an average rating of "Buy" and an average price target of $18.93.

NETSTREIT Stock Performance

NYSE:NTST traded up $0.02 during trading hours on Friday, reaching $18.79. 888,800 shares of the stock were exchanged, compared to its average volume of 1,704,444. The stock has a market capitalization of $1.57 billion, a P/E ratio of -234.88, a P/E/G ratio of 4.32 and a beta of 0.89. NETSTREIT has a 52 week low of $13.42 and a 52 week high of $19.01. 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 firm has a 50 day simple moving average of $17.51 and a 200-day simple moving average of $16.11.

NETSTREIT Increases Dividend

The company 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 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 dividend on an annualized basis and a yield of 4.6%. NETSTREIT's payout ratio is -1,050.00%.

About NETSTREIT

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.

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