Thrivent Financial for Lutherans Has $6.03 Million Position in NETSTREIT Corp. (NYSE:NTST)

Thrivent Financial for Lutherans grew its position in NETSTREIT Corp. (NYSE:NTST) by 52.1% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 364,987 shares of the company’s stock after purchasing an additional 125,076 shares during the quarter. Thrivent Financial for Lutherans owned approximately 0.47% of NETSTREIT worth $6,033,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Natixis Advisors LLC raised its holdings in NETSTREIT by 3.7% in the 3rd quarter. Natixis Advisors LLC now owns 26,051 shares of the company’s stock worth $431,000 after acquiring an additional 941 shares during the period. Victory Capital Management Inc. increased its stake in shares of NETSTREIT by 10.6% in the third quarter. Victory Capital Management Inc. now owns 85,500 shares of the company’s stock worth $1,413,000 after purchasing an additional 8,200 shares during the period. Aigen Investment Management LP acquired a new position in shares of NETSTREIT during the 3rd quarter worth about $546,000. Sumitomo Mitsui Trust Group Inc. lifted its position in shares of NETSTREIT by 1,931.7% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,615,264 shares of the company’s stock worth $26,700,000 after purchasing an additional 1,535,761 shares during the last quarter. Finally, GSA Capital Partners LLP boosted its stake in NETSTREIT by 107.8% during the 3rd quarter. GSA Capital Partners LLP now owns 149,651 shares of the company’s stock valued at $2,474,000 after purchasing an additional 77,647 shares during the period.

Wall Street Analyst Weigh In

NTST has been the subject of a number of research analyst reports. Stifel Nicolaus cut their price target on NETSTREIT from $19.50 to $19.25 and set a “buy” rating for the company in a report on Tuesday, November 5th. Raymond James raised shares of NETSTREIT from an “outperform” rating to a “strong-buy” rating and reduced their price target for the company from $20.00 to $19.00 in a report on Wednesday, August 21st. UBS Group initiated coverage on shares of NETSTREIT in a report on Monday, October 14th. They set a “buy” rating and a $19.00 price objective on the stock. Wedbush began coverage on shares of NETSTREIT in a research note on Monday, August 19th. They issued a “neutral” rating and a $17.00 target price for the company. Finally, Scotiabank upgraded NETSTREIT from a “sector perform” rating to a “sector outperform” rating and boosted their price target for the company from $16.00 to $18.00 in a research note on Monday, November 11th. Three analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $18.23.

NETSTREIT Price Performance

Shares of NTST stock opened at $16.13 on Friday. The stock’s fifty day simple moving average is $16.01 and its 200 day simple moving average is $16.51. NETSTREIT Corp. has a one year low of $15.02 and a one year high of $18.97. The firm has a market cap of $1.32 billion, a price-to-earnings ratio of -268.83 and a beta of 0.97. The company has a debt-to-equity ratio of 0.57, a current ratio of 4.11 and a quick ratio of 4.11.

NETSTREIT (NYSE:NTST) last posted its earnings results on Monday, November 4th. The company reported ($0.07) earnings per share 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 firm had revenue of $41.44 million during the quarter, compared to the consensus estimate of $41.10 million. During the same period in the previous year, the company posted $0.31 EPS. On average, analysts expect that NETSTREIT Corp. will post 1.19 earnings per share for the current fiscal year.

NETSTREIT Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Monday, December 2nd will be paid a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 5.21%. The ex-dividend date is Monday, December 2nd. NETSTREIT’s dividend payout ratio (DPR) is currently -1,400.00%.

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.