NETSTREIT Corp. (NYSE:NTST) Short Interest Up 19.3% in January

NETSTREIT Corp. (NYSE:NTST) was the recipient of a large increase in short interest in the month of January. As of January 15th, there was short interest totaling 20,196,636 shares, an increase of 19.3% from the December 31st total of 16,925,389 shares. Based on an average trading volume of 1,503,427 shares, the short-interest ratio is presently 13.4 days. Approximately 24.3% of the company’s shares are sold short. Approximately 24.3% of the company’s shares are sold short. Based on an average trading volume of 1,503,427 shares, the short-interest ratio is presently 13.4 days.

NETSTREIT Stock Up 1.3%

NTST stock traded up $0.24 during trading on Tuesday, reaching $18.82. 1,027,985 shares of the stock were exchanged, compared to its average volume of 1,351,418. The firm’s 50 day moving average is $17.84 and its 200 day moving average is $18.21. The firm has a market cap of $1.57 billion, a P/E ratio of -1,881,700.00, a price-to-earnings-growth ratio of 3.75 and a beta of 0.88. The company has a current ratio of 3.85, a quick ratio of 3.85 and a debt-to-equity ratio of 0.84. NETSTREIT has a twelve month low of $13.74 and a twelve month high of $19.64.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on NTST. Robert W. Baird boosted their price objective on NETSTREIT from $20.00 to $21.00 and gave the company an “outperform” rating in a research note on Tuesday, October 28th. Truist Financial boosted their price target on NETSTREIT from $19.00 to $20.00 and gave the company a “buy” rating in a research note on Monday, November 17th. Mizuho cut their price target on NETSTREIT from $20.00 to $19.00 and set an “outperform” rating on the stock in a report on Wednesday, December 17th. Stifel Nicolaus raised their price objective on shares of NETSTREIT from $20.00 to $21.00 and gave the stock a “buy” rating in a research report on Tuesday, October 28th. Finally, Scotiabank reiterated an “outperform” rating on shares of NETSTREIT in a research note on Monday. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $20.45.

Hedge Funds Weigh In On NETSTREIT

A number of large investors have recently modified their holdings of NTST. Principal Financial Group Inc. grew its position in NETSTREIT by 3.0% in the 4th quarter. Principal Financial Group Inc. now owns 9,226,348 shares of the company’s stock valued at $162,753,000 after purchasing an additional 268,275 shares during the period. Vanguard Group Inc. lifted its stake in shares of NETSTREIT by 7.8% in the third quarter. Vanguard Group Inc. now owns 8,961,288 shares of the company’s stock valued at $161,841,000 after buying an additional 646,153 shares in the last quarter. Lasalle Investment Management Securities LLC grew its holdings in shares of NETSTREIT by 13.8% during the second quarter. Lasalle Investment Management Securities LLC now owns 3,836,565 shares of the company’s stock valued at $64,953,000 after buying an additional 464,980 shares during the last quarter. Hudson Bay Capital Management LP increased its position in shares of NETSTREIT by 35.1% during the third quarter. Hudson Bay Capital Management LP now owns 3,794,639 shares of the company’s stock worth $68,531,000 after acquiring an additional 986,842 shares in the last quarter. Finally, Millennium Management LLC raised its holdings in shares of NETSTREIT by 88.8% in the 3rd quarter. Millennium Management LLC now owns 3,790,130 shares of the company’s stock worth $68,450,000 after acquiring an additional 1,782,158 shares during the last quarter.

NETSTREIT Company Profile

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.