NETSTREIT Corp. (NYSE:NTST) Shares Sold by Cornercap Investment Counsel Inc.

Cornercap Investment Counsel Inc. lowered its stake in shares of NETSTREIT Corp. (NYSE:NTST) by 49.7% during the third quarter, Holdings Channel reports. The firm owned 22,126 shares of the company’s stock after selling 21,819 shares during the period. Cornercap Investment Counsel Inc.’s holdings in NETSTREIT were worth $366,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Quarry LP acquired a new stake in NETSTREIT during the second quarter worth approximately $45,000. Point72 DIFC Ltd acquired a new stake in NETSTREIT during the second quarter worth approximately $83,000. Custom Index Systems LLC purchased a new position in shares of NETSTREIT during the third quarter worth approximately $170,000. M&G PLC purchased a new position in shares of NETSTREIT during the third quarter worth approximately $173,000. Finally, Van ECK Associates Corp grew its position in shares of NETSTREIT by 13.7% during the second quarter. Van ECK Associates Corp now owns 11,280 shares of the company’s stock worth $182,000 after acquiring an additional 1,359 shares during the last quarter.

Analyst Upgrades and Downgrades

NTST has been the topic of a number of research reports. UBS Group initiated coverage on shares of NETSTREIT in a research report on Monday, October 14th. They set a “buy” rating and a $19.00 target price on the stock. Raymond James upgraded shares of NETSTREIT from an “outperform” rating to a “strong-buy” rating and lowered their target price for the stock from $20.00 to $19.00 in a research report on Wednesday, August 21st. Scotiabank upgraded shares of NETSTREIT from a “sector perform” rating to a “sector outperform” rating and raised their target price for the stock from $16.00 to $18.00 in a research report on Monday, November 11th. Stifel Nicolaus lowered their target price on shares of NETSTREIT from $19.50 to $19.25 and set a “buy” rating on the stock in a research report on Tuesday, November 5th. Finally, Wedbush initiated coverage on shares of NETSTREIT in a research report on Monday, August 19th. They set a “neutral” rating and a $17.00 target price on the stock. Three investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $18.30.

NETSTREIT Stock Performance

NYSE:NTST opened at $15.45 on Monday. The firm has a market cap of $1.26 billion, a price-to-earnings ratio of -257.46 and a beta of 0.97. NETSTREIT Corp. has a 1-year low of $15.02 and a 1-year high of $18.97. The firm’s fifty day moving average price is $16.11 and its 200 day moving average price is $16.55. The company has a debt-to-equity ratio of 0.57, a current ratio of 4.11 and a quick ratio of 4.11.

NETSTREIT (NYSE:NTST) last issued its earnings results on Monday, November 4th. The company reported ($0.07) EPS for the quarter, missing the consensus estimate of $0.30 by ($0.37). The company had revenue of $41.44 million for the quarter, compared to analysts’ expectations of $41.10 million. NETSTREIT had a negative return on equity of 0.35% and a negative net margin of 2.96%. During the same quarter in the previous year, the firm posted $0.31 earnings per share. On average, sell-side analysts expect that NETSTREIT Corp. will post 1.19 EPS for the current year.

NETSTREIT Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Monday, December 2nd will be given a dividend of $0.21 per share. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $0.84 annualized dividend and a dividend yield of 5.44%. NETSTREIT’s payout ratio is currently -1,399.77%.

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.