Wellington Management Group LLP Sells 2,135,344 Shares of NETSTREIT Corp. (NYSE:NTST)

Wellington Management Group LLP lowered its position in shares of NETSTREIT Corp. (NYSE:NTST) by 62.0% in the 3rd quarter, Holdings Channel.com reports. The fund owned 1,309,462 shares of the company’s stock after selling 2,135,344 shares during the quarter. Wellington Management Group LLP’s holdings in NETSTREIT were worth $21,645,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Natixis Advisors LLC increased its position in shares of NETSTREIT by 3.7% during the third quarter. Natixis Advisors LLC now owns 26,051 shares of the company’s stock valued at $431,000 after acquiring an additional 941 shares in the last quarter. IFM Investors Pty Ltd increased its position in shares of NETSTREIT by 5.9% during the third quarter. IFM Investors Pty Ltd now owns 17,939 shares of the company’s stock valued at $297,000 after acquiring an additional 1,001 shares in the last quarter. QSV Equity Investors LLC increased its position in shares of NETSTREIT by 1.6% during the third quarter. QSV Equity Investors LLC now owns 77,533 shares of the company’s stock valued at $1,282,000 after acquiring an additional 1,214 shares in the last quarter. Van ECK Associates Corp increased its position in shares of NETSTREIT by 13.7% during the second quarter. Van ECK Associates Corp now owns 11,280 shares of the company’s stock valued at $182,000 after acquiring an additional 1,359 shares in the last quarter. Finally, State of Alaska Department of Revenue increased its position in shares of NETSTREIT by 4.2% during the third quarter. State of Alaska Department of Revenue now owns 36,869 shares of the company’s stock valued at $609,000 after acquiring an additional 1,490 shares in the last quarter.

NETSTREIT Trading Up 0.2 %

Shares of NETSTREIT stock opened at $15.01 on Friday. The company’s fifty day simple moving average is $15.83 and its 200-day simple moving average is $16.32. The stock has a market capitalization of $1.22 billion, a PE ratio of -250.08 and a beta of 0.97. NETSTREIT Corp. has a 1-year low of $14.83 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.

NETSTREIT (NYSE:NTST) last issued its quarterly 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). The business had revenue of $41.44 million for the quarter, compared to analysts’ expectations of $41.10 million. NETSTREIT had a negative return on equity of 0.35% and a negative net margin of 2.96%. During the same quarter in the prior year, the business earned $0.31 EPS. As a group, equities analysts anticipate that NETSTREIT Corp. will post 1.19 earnings per share for the current year.

NETSTREIT Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, December 13th. Investors of record on Monday, December 2nd were paid a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 5.60%. The ex-dividend date of this dividend was Monday, December 2nd. NETSTREIT’s dividend payout ratio (DPR) is -1,400.00%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the stock. Scotiabank raised shares of NETSTREIT from a “sector perform” rating to a “sector outperform” rating and raised their price target for the company from $16.00 to $18.00 in a research report on Monday, November 11th. Truist Financial cut their target price on shares of NETSTREIT from $20.00 to $19.00 and set a “buy” rating for the company in a research report on Thursday, December 5th. Stifel Nicolaus cut their target price on shares of NETSTREIT from $19.50 to $19.25 and set a “buy” rating for the company in a research report on Tuesday, November 5th. Wedbush assumed coverage on shares of NETSTREIT in a research report on Monday, August 19th. They issued a “neutral” rating and a $17.00 target price for the company. Finally, UBS Group assumed coverage on shares of NETSTREIT in a research report on Monday, October 14th. They issued a “buy” rating and a $19.00 target price for the company. Two equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, NETSTREIT presently has an average rating of “Moderate Buy” and a consensus target price of $19.03.

About NETSTREIT

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.