Resona Asset Management Co. Ltd. Takes $452,000 Position in NETSTREIT Corp. (NYSE:NTST)

Resona Asset Management Co. Ltd. purchased a new position in NETSTREIT Corp. (NYSE:NTST - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 32,369 shares of the company's stock, valued at approximately $452,000.

Other hedge funds have also recently added to or reduced their stakes in the company. The Manufacturers Life Insurance Company grew its holdings in shares of NETSTREIT by 5.5% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 38,137 shares of the company's stock worth $630,000 after purchasing an additional 2,001 shares during the last quarter. Janus Henderson Group PLC raised its stake in shares of NETSTREIT by 56.5% in the third quarter. Janus Henderson Group PLC now owns 43,800 shares of the company's stock valued at $724,000 after acquiring an additional 15,821 shares during the last quarter. Stifel Financial Corp acquired a new position in shares of NETSTREIT in the 3rd quarter worth approximately $480,000. State Street Corp grew its position in NETSTREIT by 2.9% during the 3rd quarter. State Street Corp now owns 3,104,081 shares of the company's stock worth $51,310,000 after acquiring an additional 87,669 shares during the last quarter. Finally, Y Intercept Hong Kong Ltd acquired a new stake in NETSTREIT during the 3rd quarter valued at $457,000.

Insiders Place Their Bets

In other NETSTREIT news, CEO Mark Manheimer acquired 6,384 shares of the company's stock in a transaction that occurred on Monday, March 10th. The shares were acquired at an average price of $15.33 per share, with a total value of $97,866.72. Following the purchase, the chief executive officer now owns 304,572 shares of the company's stock, valued at $4,669,088.76. This represents a 2.14 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Over the last three months, insiders have bought 12,000 shares of company stock worth $183,172. Company insiders own 0.46% of the company's stock.

NETSTREIT Trading Up 2.5 %

NTST traded up $0.40 during midday trading on Thursday, reaching $16.50. 158,665 shares of the company were exchanged, compared to its average volume of 913,301. The company has a debt-to-equity ratio of 0.57, a quick ratio of 4.11 and a current ratio of 4.11. The stock has a market capitalization of $1.35 billion, a P/E ratio of -275.12 and a beta of 0.91. The stock's 50-day simple moving average is $15.00 and its 200 day simple moving average is $15.11. NETSTREIT Corp. has a one year low of $13.42 and a one year high of $18.10.

NETSTREIT Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, March 14th were paid a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 5.09%. The ex-dividend date of this dividend was Friday, March 14th. NETSTREIT's payout ratio is presently -525.00%.

Analyst Ratings Changes

Several analysts have recently commented on NTST shares. Mizuho increased their target price on NETSTREIT from $15.00 to $17.00 and gave the stock an "outperform" rating in a report on Thursday, April 3rd. Wells Fargo & Company started coverage on shares of NETSTREIT in a research report on Monday, April 7th. They issued an "overweight" rating and a $18.00 price objective for the company. Capital One Financial started coverage on shares of NETSTREIT in a research note on Wednesday, February 12th. They set an "overweight" rating on the stock. Finally, Raymond James dropped their price objective on shares of NETSTREIT from $19.00 to $17.00 and set a "strong-buy" rating for the company in a research report on Friday, January 17th. One investment analyst has rated the stock with a hold rating, six have issued a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Buy" and an average price target of $18.03.

NETSTREIT Company Profile

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.