Davis Selected Advisers Acquires 121,900 Shares of NETSTREIT Corp. $NTST

Davis Selected Advisers increased its holdings in NETSTREIT Corp. (NYSE:NTST) by 55.3% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 342,410 shares of the company’s stock after acquiring an additional 121,900 shares during the period. Davis Selected Advisers owned about 0.41% of NETSTREIT worth $6,184,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the business. Intech Investment Management LLC increased its holdings in NETSTREIT by 1.9% during the 3rd quarter. Intech Investment Management LLC now owns 32,517 shares of the company’s stock worth $587,000 after purchasing an additional 600 shares in the last quarter. Amundi boosted its position in shares of NETSTREIT by 1.6% during the first quarter. Amundi now owns 45,361 shares of the company’s stock valued at $709,000 after buying an additional 704 shares during the last quarter. Daiwa Securities Group Inc. boosted its position in shares of NETSTREIT by 3.4% during the second quarter. Daiwa Securities Group Inc. now owns 28,791 shares of the company’s stock valued at $487,000 after buying an additional 945 shares during the last quarter. Natixis Advisors LLC grew its holdings in NETSTREIT by 2.4% during the third quarter. Natixis Advisors LLC now owns 52,415 shares of the company’s stock worth $947,000 after buying an additional 1,235 shares in the last quarter. Finally, Alps Advisors Inc. grew its holdings in NETSTREIT by 9.5% during the third quarter. Alps Advisors Inc. now owns 17,061 shares of the company’s stock worth $308,000 after buying an additional 1,486 shares in the last quarter.

NETSTREIT Stock Performance

Shares of NETSTREIT stock opened at $19.86 on Thursday. The business’s fifty day simple moving average is $19.45 and its 200 day simple moving average is $18.59. The company has a current ratio of 3.12, a quick ratio of 3.12 and a debt-to-equity ratio of 0.75. NETSTREIT Corp. has a 12 month low of $14.00 and a 12 month high of $21.30. The firm has a market capitalization of $1.93 billion, a P/E ratio of 220.66, a price-to-earnings-growth ratio of 3.13 and a beta of 0.86.

NETSTREIT (NYSE:NTST) last announced its quarterly earnings data 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). NETSTREIT had a net margin of 3.54% and a return on equity of 0.51%. The business had revenue of $52.50 million during the quarter, compared to the consensus estimate of $50.98 million. As a group, analysts anticipate that NETSTREIT Corp. will post 1.19 EPS for the current year.

NETSTREIT Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Monday, March 16th will be issued a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 4.4%. This is a boost from NETSTREIT’s previous quarterly dividend of $0.22. The ex-dividend date is Monday, March 16th. NETSTREIT’s dividend payout ratio is 977.78%.

Wall Street Analysts Forecast Growth

NTST has been the topic of several recent analyst reports. UBS Group raised their price objective on NETSTREIT from $21.00 to $24.00 and gave the company a “buy” rating in a research note on Monday, March 9th. Scotiabank upped their target price on shares of NETSTREIT from $21.00 to $22.00 and gave the stock a “sector outperform” rating in a research note on Monday, March 2nd. Raymond James Financial downgraded shares of NETSTREIT from a “strong-buy” rating to an “outperform” rating and increased their target price for the company from $21.00 to $22.00 in a report on Tuesday. Mizuho raised their price target on shares of NETSTREIT from $19.00 to $23.00 and gave the company an “outperform” rating in a research report on Wednesday, March 11th. Finally, Cantor Fitzgerald boosted their price target on shares of NETSTREIT from $20.00 to $22.00 and gave the stock an “overweight” rating in a report on Tuesday, February 17th. Eleven research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, NETSTREIT has an average rating of “Moderate Buy” and a consensus target price of $21.50.

About NETSTREIT

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.