Birch Capital Management LLC Decreases Stock Holdings in NETSTREIT Corp. (NYSE:NTST)
Birch Capital Management LLC trimmed its holdings in shares of NETSTREIT Corp. (NYSE:NTST) by 5.0% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 27,053 shares of the company’s stock after selling 1,423 shares during the quarter. Birch Capital Management LLC owned 0.10% of NETSTREIT worth $500,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also modified their holdings of the company. Citigroup Inc. increased its position in shares of NETSTREIT by 323.4% during the fourth quarter. Citigroup Inc. now owns 2,439 shares of the company’s stock valued at $48,000 after acquiring an additional 1,863 shares during the last quarter. Panagora Asset Management Inc. purchased a new stake in NETSTREIT in the fourth quarter worth $50,000. Strs Ohio purchased a new stake in NETSTREIT in the third quarter worth $56,000. Daiwa Securities Group Inc. purchased a new stake in NETSTREIT in the fourth quarter worth $66,000. Finally, Public Employees Retirement System of Ohio purchased a new stake in NETSTREIT in the fourth quarter worth $69,000. 68.71% of the stock is owned by institutional investors.
A number of analysts have issued reports on the company. Scotiabank assumed coverage on NETSTREIT in a research report on Thursday, January 7th. They issued an “outperform” rating and a $21.00 target price for the company. Zacks Investment Research raised NETSTREIT from a “strong sell” rating to a “hold” rating in a research report on Wednesday, February 10th. Finally, Truist decreased their target price on NETSTREIT from $23.00 to $22.00 in a research report on Friday, December 11th. Two research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $21.25.
NETSTREIT (NYSE:NTST) last posted its quarterly earnings data on Wednesday, March 3rd. The company reported $0.27 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.04 by $0.23. Sell-side analysts expect that NETSTREIT Corp. will post 0.6 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 30th. Investors of record on Monday, March 15th were paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 3.94%. The ex-dividend date was Friday, March 12th.
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.
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