AlphaQuest LLC Reduces Stock Position in NETSTREIT Corp. (NYSE:NTST)

AlphaQuest LLC trimmed its position in NETSTREIT Corp. (NYSE:NTST) by 57.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 109,582 shares of the company’s stock after selling 146,769 shares during the quarter. AlphaQuest LLC owned 0.13% of NETSTREIT worth $1,551,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Nordea Investment Management AB bought a new position in shares of NETSTREIT during the 4th quarter worth $6,714,000. JPMorgan Chase & Co. grew its position in shares of NETSTREIT by 173.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 569,527 shares of the company’s stock worth $9,414,000 after buying an additional 361,577 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. grew its position in shares of NETSTREIT by 1,931.7% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,615,264 shares of the company’s stock worth $26,700,000 after buying an additional 1,535,761 shares in the last quarter. Vestcor Inc bought a new position in shares of NETSTREIT during the 3rd quarter worth $913,000. Finally, Geode Capital Management LLC grew its position in shares of NETSTREIT by 6.0% during the 3rd quarter. Geode Capital Management LLC now owns 1,980,800 shares of the company’s stock worth $32,748,000 after buying an additional 112,047 shares in the last quarter.

NETSTREIT Trading Up 1.8 %

NETSTREIT stock opened at $15.20 on Monday. The stock has a 50-day moving average of $14.32 and a two-hundred day moving average of $15.37. The company has a debt-to-equity ratio of 0.57, a quick ratio of 4.11 and a current ratio of 4.11. NETSTREIT Corp. has a one year low of $13.42 and a one year high of $18.97. The stock has a market cap of $1.24 billion, a PE ratio of -253.21 and a beta of 0.99.

NETSTREIT Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be paid a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 5.53%. The ex-dividend date is Friday, March 14th. NETSTREIT’s dividend payout ratio (DPR) is presently -525.00%.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the company. Truist Financial dropped their price target on NETSTREIT from $20.00 to $19.00 and set a “buy” rating on the stock in a research report on Thursday, December 5th. Capital One Financial started coverage on NETSTREIT in a research report on Wednesday, February 12th. They set an “overweight” rating on the stock. Mizuho decreased their price objective on NETSTREIT from $17.00 to $15.00 and set an “outperform” rating for the company in a research note on Wednesday, January 8th. Raymond James decreased their price objective on NETSTREIT from $19.00 to $17.00 and set a “strong-buy” rating for the company in a research note on Friday, January 17th. Finally, Scotiabank upgraded NETSTREIT from a “sector perform” rating to a “sector outperform” rating and upped their price objective for the stock from $16.00 to $18.00 in a research note on Monday, November 11th. One equities research analyst has rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $17.75.

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.