AlphaQuest LLC Sells 103,786 Shares of NETSTREIT Corp. $NTST

AlphaQuest LLC cut its stake in NETSTREIT Corp. (NYSE:NTST) by 94.7% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,796 shares of the company’s stock after selling 103,786 shares during the period. AlphaQuest LLC’s holdings in NETSTREIT were worth $92,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of NTST. Principal Financial Group Inc. boosted its holdings in NETSTREIT by 61.3% in the 1st quarter. Principal Financial Group Inc. now owns 7,741,808 shares of the company’s stock valued at $122,708,000 after purchasing an additional 2,941,600 shares during the period. Nuveen LLC acquired a new position in shares of NETSTREIT in the 1st quarter valued at $18,181,000. Hudson Bay Capital Management LP raised its stake in shares of NETSTREIT by 195.9% in the 4th 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 in the last quarter. DigitalBridge Group Inc. raised its stake in shares of NETSTREIT by 1,175.4% in the 4th 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 in the last quarter. Finally, Deprince Race & Zollo Inc. raised its stake in shares of NETSTREIT by 30.9% in the 4th 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 in the last quarter.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on NTST. 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 research note on Friday, August 15th. 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 research note on Thursday, July 24th. Scotiabank restated an “outperform” rating on shares of NETSTREIT in a research note on Wednesday, August 27th. Raymond James Financial restated a “strong-buy” rating and issued a $21.00 price objective on shares of NETSTREIT in a research note on Wednesday, July 30th. Finally, Wells Fargo & Company increased their price objective on shares of NETSTREIT from $18.00 to $20.00 and gave the company an “overweight” rating in a research note on Wednesday, August 27th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $19.58.

NETSTREIT Trading Down 2.5%

Shares of NETSTREIT stock opened at $17.83 on Wednesday. The stock has a market capitalization of $1.49 billion, a P/E ratio of -222.84, a price-to-earnings-growth ratio of 4.20 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 50-day simple moving average of $17.97 and a 200 day simple moving average of $16.44. NETSTREIT Corp. has a 12-month low of $13.42 and a 12-month high of $19.18.

NETSTREIT Increases Dividend

The company also recently announced 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. This is an increase from NETSTREIT’s previous quarterly dividend of $0.21. The ex-dividend date is Tuesday, September 2nd. This represents a $0.86 dividend on an annualized basis and a dividend yield of 4.8%. NETSTREIT’s dividend payout ratio is -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.