Short Interest in NETSTREIT Corp. (NYSE:NTST) Expands By 19.3%

NETSTREIT Corp. (NYSE:NTST) was the recipient of a significant increase in short interest in 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. Currently, 24.3% of the shares of the stock are short sold. Based on an average trading volume of 1,503,427 shares, the days-to-cover ratio is currently 13.4 days. Based on an average trading volume of 1,503,427 shares, the days-to-cover ratio is currently 13.4 days. Currently, 24.3% of the shares of the stock are short sold.

Hedge Funds Weigh In On NETSTREIT

A number of hedge funds have recently made changes to their positions in the stock. EverSource Wealth Advisors LLC boosted its holdings in NETSTREIT by 1,123.3% in the second quarter. EverSource Wealth Advisors LLC now owns 1,786 shares of the company’s stock valued at $30,000 after acquiring an additional 1,640 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of NETSTREIT by 36.3% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,440 shares of the company’s stock valued at $43,000 after purchasing an additional 650 shares during the last quarter. Fulcrum Asset Management LLP acquired a new stake in shares of NETSTREIT during the fourth quarter worth $64,000. CWM LLC increased its position in shares of NETSTREIT by 108.0% during the second quarter. CWM LLC now owns 4,687 shares of the company’s stock worth $79,000 after buying an additional 2,434 shares during the period. Finally, CIBC Private Wealth Group LLC raised its stake in NETSTREIT by 39.1% during the third quarter. CIBC Private Wealth Group LLC now owns 7,299 shares of the company’s stock worth $132,000 after buying an additional 2,051 shares during the last quarter.

NETSTREIT Trading Up 1.3%

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

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. Weiss Ratings reaffirmed a “hold (c)” rating on shares of NETSTREIT in a report on Monday, December 29th. Scotiabank reaffirmed an “outperform” rating on shares of NETSTREIT in a research note on Monday. Stifel Nicolaus upped their price target on shares of NETSTREIT from $20.00 to $21.00 and gave the stock a “buy” rating in a report on Tuesday, October 28th. Mizuho dropped their price target on NETSTREIT from $20.00 to $19.00 and set an “outperform” rating for the company in a research note on Wednesday, December 17th. Finally, Robert W. Baird boosted their price objective on NETSTREIT from $20.00 to $21.00 and gave the stock an “outperform” rating in a research report 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 assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $20.45.

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.