NETSTREIT Corp. $NTST Shares Sold by JPMorgan Chase & Co.

JPMorgan Chase & Co. lessened its position in shares of NETSTREIT Corp. (NYSE:NTST) by 21.7% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 615,296 shares of the company’s stock after selling 170,914 shares during the quarter. JPMorgan Chase & Co. owned approximately 0.74% of NETSTREIT worth $11,112,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Vanguard Group Inc. increased its holdings in NETSTREIT by 7.8% during the 3rd quarter. Vanguard Group Inc. now owns 8,961,288 shares of the company’s stock valued at $161,841,000 after acquiring an additional 646,153 shares in the last quarter. Principal Financial Group Inc. lifted its holdings in shares of NETSTREIT by 11.9% in the third quarter. Principal Financial Group Inc. now owns 8,958,073 shares of the company’s stock valued at $161,783,000 after purchasing an additional 955,951 shares in the last quarter. Hudson Bay Capital Management LP lifted its holdings in shares of NETSTREIT by 35.1% in the third quarter. Hudson Bay Capital Management LP now owns 3,794,639 shares of the company’s stock valued at $68,531,000 after purchasing an additional 986,842 shares in the last quarter. Millennium Management LLC grew its position in shares of NETSTREIT by 88.8% in the third quarter. Millennium Management LLC now owns 3,790,130 shares of the company’s stock valued at $68,450,000 after purchasing an additional 1,782,158 shares during the last quarter. Finally, Centersquare Investment Management LLC grew its position in shares of NETSTREIT by 37.9% in the third quarter. Centersquare Investment Management LLC now owns 3,533,415 shares of the company’s stock valued at $63,813,000 after purchasing an additional 970,260 shares during the last quarter.

Wall Street Analysts Forecast Growth

NTST has been the subject of several research reports. Truist Financial lifted their price objective on NETSTREIT from $20.00 to $21.00 and gave the stock a “buy” rating in a research report on Monday, March 23rd. Weiss Ratings reiterated a “hold (c)” rating on shares of NETSTREIT in a report on Monday, December 29th. Cantor Fitzgerald raised their price target on NETSTREIT from $20.00 to $22.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 17th. Mizuho upped their price objective on NETSTREIT from $19.00 to $23.00 and gave the company an “outperform” rating in a research report on Wednesday, March 11th. Finally, Scotiabank increased their price objective on NETSTREIT from $21.00 to $22.00 and gave the company a “sector outperform” rating in a research note on Monday, March 2nd. Eleven investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $21.58.

NETSTREIT Stock Down 0.3%

Shares of NYSE NTST opened at $18.68 on Friday. The firm has a market cap of $1.81 billion, a P/E ratio of 207.53, a price-to-earnings-growth ratio of 2.90 and a beta of 0.86. The company has a debt-to-equity ratio of 0.75, a quick ratio of 3.12 and a current ratio of 3.12. NETSTREIT Corp. has a 1 year low of $14.00 and a 1 year high of $21.30. The firm’s 50 day moving average price is $19.61 and its 200 day moving average price is $18.64.

NETSTREIT (NYSE:NTST) last issued its quarterly earnings results on Tuesday, February 10th. The company reported $0.02 earnings per share for the quarter, missing the consensus estimate of $0.33 by ($0.31). NETSTREIT had a net margin of 3.54% and a return on equity of 0.51%. The business had revenue of $52.50 million during the quarter, compared to analyst estimates of $50.98 million. As a group, sell-side analysts anticipate that NETSTREIT Corp. will post 1.19 earnings per share for the current year.

NETSTREIT Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Monday, March 16th will be given a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 4.7%. This is a boost from NETSTREIT’s previous quarterly dividend of $0.22. The ex-dividend date is Monday, March 16th. NETSTREIT’s dividend payout ratio (DPR) is currently 977.78%.

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.