NETSTREIT Corp. (NYSE:NTST) Sees Significant Growth in Short Interest
by Tristan Rich · The Markets DailyNETSTREIT Corp. (NYSE:NTST – Get Free Report) saw a significant growth in short interest in January. As of January 15th, there was short interest totaling 20,196,636 shares, a growth 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 short sold. Approximately 24.3% of the company’s shares are short sold. Based on an average trading volume of 1,503,427 shares, the short-interest ratio is presently 13.4 days.
NETSTREIT Stock Up 1.4%
Shares of NTST stock traded up $0.27 during trading hours on Wednesday, hitting $19.10. 825,655 shares of the company were exchanged, compared to its average volume of 1,365,101. The company has a debt-to-equity ratio of 0.84, a quick ratio of 3.85 and a current ratio of 3.85. The stock has a market capitalization of $1.60 billion, a price-to-earnings ratio of -1,910,100.00, a P/E/G ratio of 3.75 and a beta of 0.88. NETSTREIT has a one year low of $13.74 and a one year high of $19.64. The business’s 50-day simple moving average is $17.84 and its two-hundred day simple moving average is $18.21.
Institutional Trading of NETSTREIT
A number of institutional investors and hedge funds have recently modified their holdings of the business. Principal Financial Group Inc. grew its holdings in shares of NETSTREIT by 3.0% during the fourth 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 last quarter. Vanguard Group Inc. boosted its position in NETSTREIT by 7.8% during the 3rd quarter. Vanguard Group Inc. now owns 8,961,288 shares of the company’s stock valued at $161,841,000 after purchasing an additional 646,153 shares during the period. Lasalle Investment Management Securities LLC boosted 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 acquiring an additional 464,980 shares during the period. Hudson Bay Capital Management LP boosted 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 buying an additional 986,842 shares during the period. Finally, Millennium Management LLC raised its stake in NETSTREIT by 88.8% during the 3rd quarter. Millennium Management LLC now owns 3,790,130 shares of the company’s stock valued at $68,450,000 after acquiring an additional 1,782,158 shares in the last quarter.
Analyst Ratings Changes
NTST has been the subject of a number of recent research reports. Robert W. Baird increased their target price 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 increased their price objective on shares of NETSTREIT from $19.00 to $20.00 and gave the company a “buy” rating in a research report on Monday, November 17th. Berenberg Bank assumed coverage on shares of NETSTREIT in a research report on Monday, October 13th. They set a “buy” rating and a $22.00 target price on the stock. Cantor Fitzgerald restated an “overweight” rating and issued a $20.00 target price on shares of NETSTREIT in a research note on Monday, January 5th. Finally, Stifel Nicolaus lifted their price target on shares of NETSTREIT from $20.00 to $21.00 and gave the stock a “buy” rating in a research note on Tuesday, October 28th. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $20.45.
Check Out Our Latest Analysis on NTST
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.