Carmel Capital Partners LLC Raises Position in NETSTREIT Corp. (NYSE:NTST)

Carmel Capital Partners LLC boosted its holdings in NETSTREIT Corp. (NYSE:NTST) by 11.6% in the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 25,006 shares of the company’s stock after purchasing an additional 2,598 shares during the period. Carmel Capital Partners LLC’s holdings in NETSTREIT were worth $413,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of NTST. Quarry LP bought a new position in NETSTREIT during the 2nd quarter worth approximately $45,000. Point72 DIFC Ltd bought a new position in NETSTREIT during the 2nd quarter worth approximately $83,000. Custom Index Systems LLC bought a new position in NETSTREIT during the 3rd quarter worth approximately $170,000. M&G PLC bought a new position in NETSTREIT during the 3rd quarter worth approximately $173,000. Finally, Van ECK Associates Corp raised its position in shares of NETSTREIT by 13.7% during the 2nd quarter. Van ECK Associates Corp now owns 11,280 shares of the company’s stock worth $182,000 after purchasing an additional 1,359 shares during the period.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the company. Scotiabank dropped their price target on NETSTREIT from $18.00 to $16.00 and set a “sector perform” rating on the stock in a research report on Wednesday, August 7th. Wedbush assumed coverage on NETSTREIT in a research report on Monday, August 19th. They set a “neutral” rating and a $17.00 price target on the stock. UBS Group assumed coverage on NETSTREIT in a research report on Monday, October 14th. They set a “buy” rating and a $19.00 price target on the stock. Stifel Nicolaus dropped their price target on NETSTREIT from $19.50 to $19.25 and set a “buy” rating on the stock in a research report on Tuesday. Finally, Raymond James upgraded NETSTREIT from an “outperform” rating to a “strong-buy” rating and dropped their price target for the stock from $20.00 to $19.00 in a research report on Wednesday, August 21st. Four equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $18.11.

NETSTREIT Stock Up 1.8 %

NTST opened at $16.14 on Friday. NETSTREIT Corp. has a 12 month low of $14.92 and a 12 month high of $18.97. The company has a debt-to-equity ratio of 0.57, a current ratio of 4.11 and a quick ratio of 4.08. The stock has a market cap of $1.32 billion, a P/E ratio of -269.04 and a beta of 0.97. The stock’s 50 day moving average price is $16.23 and its 200 day moving average price is $16.60.

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

NETSTREIT Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Monday, December 2nd will be paid a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 5.20%. The ex-dividend date of this dividend is Monday, December 2nd. 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.