NETSTREIT Corp. (NYSE:NTST) Short Interest Down 29.6% in March

NETSTREIT Corp. (NYSE:NTST – Get Rating) saw a significant decline in short interest during the month of March. As of March 31st, there was short interest totalling 4,520,000 shares, a decline of 29.6% from the March 15th total of 6,420,000 shares. Based on an average daily trading volume, of 517,900 shares, the short-interest ratio is presently 8.7 days.

In other news, Director Robin Mcbride Zeigler sold 1,563 shares of NETSTREIT stock in a transaction that occurred on Thursday, March 10th. The stock was sold at an average price of $21.36, for a total transaction of $33,385.68. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 0.28% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of NTST. Alliancebernstein L.P. grew its position in NETSTREIT by 397.8% during the 3rd quarter. Alliancebernstein L.P. now owns 2,085,823 shares of the company’s stock worth $49,330,000 after purchasing an additional 1,666,810 shares in the last quarter. Morgan Stanley grew its holdings in shares of NETSTREIT by 49.9% during the 2nd quarter. Morgan Stanley now owns 2,923,331 shares of the company’s stock valued at $67,411,000 after acquiring an additional 973,551 shares in the last quarter. Weiss Multi Strategy Advisers LLC grew its holdings in shares of NETSTREIT by 48.9% during the 4th quarter. Weiss Multi Strategy Advisers LLC now owns 2,644,000 shares of the company’s stock valued at $60,548,000 after acquiring an additional 868,869 shares in the last quarter. Deutsche Bank AG grew its holdings in shares of NETSTREIT by 90.6% during the 3rd quarter. Deutsche Bank AG now owns 1,789,543 shares of the company’s stock valued at $42,322,000 after acquiring an additional 850,667 shares in the last quarter. Finally, Millennium Management LLC grew its holdings in shares of NETSTREIT by 259.0% during the 4th quarter. Millennium Management LLC now owns 810,753 shares of the company’s stock valued at $18,566,000 after acquiring an additional 584,920 shares in the last quarter.

Separately, Zacks Investment Research cut NETSTREIT from a “hold” rating to a “sell” rating in a report on Saturday, April 9th. One equities research analyst has rated the stock with a sell rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, NETSTREIT has a consensus rating of “Buy” and a consensus price target of $28.00.

Shares of NYSE NTST traded up $0.36 during trading on Tuesday, hitting $23.26. The company had a trading volume of 700 shares, compared to its average volume of 503,399. The company has a market cap of $1.03 billion, a P/E ratio of 333.29, a P/E/G ratio of 1.70 and a beta of 1.07. NETSTREIT has a 52 week low of $20.15 and a 52 week high of $26.92. The firm has a 50-day moving average of $22.13. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.45 and a current ratio of 0.45.

NETSTREIT (NYSE:NTST – Get Rating) last posted its quarterly earnings results on Thursday, February 24th. The company reported $0.05 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.24 by ($0.19). NETSTREIT had a net margin of 5.15% and a return on equity of 0.45%. During the same period in the prior year, the firm posted $0.20 earnings per share. As a group, equities research analysts expect that NETSTREIT will post 1.01 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 30th. Shareholders of record on Tuesday, March 15th were given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 3.44%. The ex-dividend date of this dividend was Monday, March 14th. NETSTREIT’s payout ratio is 1,142.86%.

About NETSTREIT (Get Rating)

NETSTREIT 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.

Featured Stories