Davis Selected Advisers Raises Position in NETSTREIT Corp. $NTST

Davis Selected Advisers increased its stake in NETSTREIT Corp. (NYSE:NTST) by 55.3% during the third quarter, HoldingsChannel reports. The firm owned 342,410 shares of the company’s stock after acquiring an additional 121,900 shares during the period. Davis Selected Advisers’ holdings in NETSTREIT were worth $6,184,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also bought and sold shares of the company. Hudson Bay Capital Management LP increased its position in NETSTREIT by 35.1% in the third quarter. Hudson Bay Capital Management LP now owns 3,794,639 shares of the company’s stock worth $68,531,000 after buying an additional 986,842 shares during the last quarter. CIBC Private Wealth Group LLC lifted its position in shares of NETSTREIT by 39.1% during the 3rd quarter. CIBC Private Wealth Group LLC now owns 7,299 shares of the company’s stock valued at $132,000 after buying an additional 2,051 shares during the last quarter. CIBC Bancorp USA Inc. bought a new position in shares of NETSTREIT during the 3rd quarter worth $183,000. CANADA LIFE ASSURANCE Co grew its stake in shares of NETSTREIT by 10.7% during the 3rd quarter. CANADA LIFE ASSURANCE Co now owns 146,005 shares of the company’s stock worth $2,621,000 after acquiring an additional 14,120 shares during the period. Finally, Zimmer Partners LP purchased a new stake in NETSTREIT in the 3rd quarter worth about $5,324,000.

Wall Street Analyst Weigh In

NTST has been the topic of several recent research reports. Scotiabank upped their price objective on shares of NETSTREIT from $21.00 to $22.00 and gave the company a “sector outperform” rating in a report on Monday, March 2nd. UBS Group lifted their target price on shares of NETSTREIT from $21.00 to $24.00 and gave the stock a “buy” rating in a research note on Monday, March 9th. Raymond James Financial lowered shares of NETSTREIT from a “strong-buy” rating to an “outperform” rating and boosted their price target for the company from $21.00 to $22.00 in a research report on Tuesday. Weiss Ratings reaffirmed a “hold (c)” rating on shares of NETSTREIT in a report on Monday, December 29th. Finally, Mizuho lifted their price objective on shares of NETSTREIT from $19.00 to $23.00 and gave the company an “outperform” rating in a research note on Wednesday, March 11th. Eleven equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $21.50.

NETSTREIT Stock Down 1.3%

NTST stock opened at $19.86 on Thursday. The stock has a 50-day simple moving average of $19.45 and a two-hundred day simple moving average of $18.59. NETSTREIT Corp. has a twelve month low of $14.00 and a twelve month high of $21.30. The firm has a market capitalization of $1.93 billion, a PE ratio of 220.66, a PEG ratio of 3.13 and a beta of 0.86. The company has a quick ratio of 3.12, a current ratio of 3.12 and a debt-to-equity ratio of 0.75.

NETSTREIT (NYSE:NTST) last announced its quarterly earnings results on Tuesday, February 10th. The company reported $0.02 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.33 by ($0.31). The firm had revenue of $52.50 million during the quarter, compared to analysts’ expectations of $50.98 million. NETSTREIT had a return on equity of 0.51% and a net margin of 3.54%. On average, equities analysts predict that NETSTREIT Corp. will post 1.19 EPS for the current fiscal year.

NETSTREIT Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Monday, March 16th will be issued a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 4.4%. The ex-dividend date of this dividend is Monday, March 16th. This is a positive change from NETSTREIT’s previous quarterly dividend of $0.22. NETSTREIT’s payout ratio is 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.