NETSTREIT Corp. (NYSE:NTST) Sees Significant Decrease in Short Interest

NETSTREIT Corp. (NYSE:NTST) was the target of a large drop in short interest in August. As of August 31st, there was short interest totaling 14,287,340 shares, a drop of 54.2% from the August 15th total of 31,209,261 shares. Based on an average daily volume of 2,506,334 shares, the days-to-cover ratio is currently 5.7 days. Approximately 14.2% of the company’s stock are sold short.

NETSTREIT Trading Down 5.7%

NYSE NTST traded down $1.09 during mid-day trading on Wednesday, reaching $18.20. 969,167 shares of the stock were exchanged, compared to its average volume of 1,620,345. NETSTREIT has a 1-year low of $17.02 and a 1-year high of $22.47. The business’s fifty day simple moving average is $20.89 and its 200 day simple moving average is $20.47. The company has a debt-to-equity ratio of 0.88, a quick ratio of 3.54 and a current ratio of 3.55. The stock has a market capitalization of $1.85 billion, a PE ratio of 120.61, a PEG ratio of 2.53 and a beta of 0.80.

NETSTREIT (NYSE:NTST) last released its earnings results on Wednesday, July 22nd. The company reported $0.06 EPS for the quarter, missing the consensus estimate of $0.08 by ($0.02). The business had revenue of $61.28 million during the quarter, compared to analyst estimates of $56.41 million. NETSTREIT had a net margin of 6.35% and a return on equity of 0.95%. NETSTREIT has set its FY 2026 guidance at 1.370-1.390 EPS. On average, research analysts anticipate that NETSTREIT will post 1.3 earnings per share for the current fiscal year.

NETSTREIT Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 15th. Stockholders of record on Tuesday, September 1st were paid a dividend of $0.225 per share. The ex-dividend date of this dividend was Tuesday, September 1st. This represents a $0.90 annualized dividend and a dividend yield of 4.9%. NETSTREIT’s payout ratio is currently 600.00%.

Insider Buying and Selling

In other NETSTREIT news, CEO Mark Manheimer purchased 5,000 shares of the business’s stock in a transaction on Thursday, June 18th. The shares were bought at an average cost of $19.19 per share, for a total transaction of $95,950.00. Following the completion of the purchase, the chief executive officer directly owned 415,260 shares in the company, valued at approximately $7,968,839.40. This represents a 1.22% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.66% of the stock is owned by company insiders.

Institutional Investors Weigh In On NETSTREIT

Several institutional investors have recently bought and sold shares of NTST. BlackRock Inc. purchased a new stake in shares of NETSTREIT in the second quarter worth about $404,780,000. Principal Financial Group Inc. increased its holdings in NETSTREIT by 3.4% in the first quarter. Principal Financial Group Inc. now owns 9,535,801 shares of the company’s stock valued at $179,560,000 after buying an additional 309,453 shares during the last quarter. Bank of America Corp DE raised its position in shares of NETSTREIT by 12.2% during the 1st quarter. Bank of America Corp DE now owns 3,433,461 shares of the company’s stock valued at $64,652,000 after acquiring an additional 372,337 shares in the last quarter. Centersquare Investment Management LLC raised its holdings in shares of NETSTREIT by 3.4% during the fourth quarter. Centersquare Investment Management LLC now owns 3,653,585 shares of the company’s stock worth $64,449,000 after purchasing an additional 120,170 shares during the period. Finally, Deutsche Bank AG acquired a new stake in NETSTREIT during the second quarter worth about $44,589,000.

Analysts Set New Price Targets

A number of research firms have weighed in on NTST. Wells Fargo & Company raised their price objective on shares of NETSTREIT from $22.00 to $23.00 and gave the stock an “overweight” rating in a report on Monday, June 1st. Scotiabank cut their price target on NETSTREIT from $23.00 to $22.00 and set a “sector outperform” rating for the company in a research note on Thursday, June 18th. Weiss Ratings reissued a “hold (c+)” rating on shares of NETSTREIT in a report on Friday, August 7th. Robert W. Baird raised their target price on NETSTREIT from $22.00 to $23.00 and gave the company an “outperform” rating in a report on Thursday, July 23rd. Finally, Cantor Fitzgerald boosted their price target on NETSTREIT from $24.00 to $25.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 28th. Thirteen equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, NETSTREIT currently has an average rating of “Moderate Buy” and a consensus price target of $23.19.

About NETSTREIT

NETSTREIT Corp. is a real estate investment trust (REIT) focused on owning and managing healthcare real estate in the United States. The company primarily invests in outpatient medical office properties that support essential healthcare services, including clinics, physician practices, specialty care facilities and other medical providers.

NETSTREIT generally leases its properties to healthcare systems, physician groups and other medical operators under long-term, net lease arrangements.