Tributary Capital Management LLC Makes New Investment in NETSTREIT Corp. (NYSE:NTST)

Tributary Capital Management LLC bought a new stake in NETSTREIT Corp. (NYSE:NTST) in the fourth quarter, HoldingsChannel.com reports. The firm bought 892,818 shares of the company’s stock, valued at approximately $12,633,000.

A number of other institutional investors also recently modified their holdings of the business. Presima Securities ULC acquired a new stake in NETSTREIT in the 4th quarter worth about $5,085,000. Janney Montgomery Scott LLC acquired a new stake in shares of NETSTREIT in the fourth quarter valued at approximately $198,000. SG Americas Securities LLC boosted its stake in shares of NETSTREIT by 12.9% in the fourth quarter. SG Americas Securities LLC now owns 37,604 shares of the company’s stock valued at $532,000 after buying an additional 4,284 shares during the period. Nordea Investment Management AB acquired a new stake in NETSTREIT during the fourth quarter worth approximately $6,714,000. Finally, JPMorgan Chase & Co. increased its stake in NETSTREIT by 173.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 569,527 shares of the company’s stock worth $9,414,000 after acquiring an additional 361,577 shares during the period.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the company. Stifel Nicolaus cut their target price on NETSTREIT from $19.50 to $19.25 and set a “buy” rating for the company in a research report on Tuesday, November 5th. Mizuho cut their price objective on shares of NETSTREIT from $17.00 to $15.00 and set an “outperform” rating for the company in a research report on Wednesday, January 8th. Raymond James decreased their target price on shares of NETSTREIT from $19.00 to $17.00 and set a “strong-buy” rating on the stock in a report on Friday, January 17th. Scotiabank raised shares of NETSTREIT from a “sector perform” rating to a “sector outperform” rating and upped their price target for the stock from $16.00 to $18.00 in a report on Monday, November 11th. Finally, Truist Financial decreased their price objective on shares of NETSTREIT from $20.00 to $19.00 and set a “buy” rating on the stock in a research note on Thursday, December 5th. Two equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $17.75.

NETSTREIT Price Performance

NTST stock opened at $14.38 on Friday. NETSTREIT Corp. has a 1 year low of $13.42 and a 1 year 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 4.11. The stock has a market cap of $1.17 billion, a price-to-earnings ratio of -239.64 and a beta of 1.00. The company has a 50 day simple moving average of $14.81 and a 200 day simple moving average of $15.78.

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

NETSTREIT Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, December 13th. Stockholders of record on Monday, December 2nd were issued a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 5.84%. The ex-dividend date of this dividend was Monday, December 2nd. NETSTREIT’s dividend payout ratio (DPR) 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.