Alliancebernstein L.P. raised its holdings in NETSTREIT Corp. (NYSE:NTST - Free Report) by 12.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,882,658 shares of the company's stock after buying an additional 206,357 shares during the period. Alliancebernstein L.P. owned 2.31% of NETSTREIT worth $26,640,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in NTST. Vanguard Group Inc. increased its position in shares of NETSTREIT by 3.0% in the fourth quarter. Vanguard Group Inc. now owns 7,959,793 shares of the company's stock valued at $112,631,000 after acquiring an additional 234,695 shares during the last quarter. Principal Financial Group Inc. increased its position in shares of NETSTREIT by 46.4% during the 4th quarter. Principal Financial Group Inc. now owns 4,800,208 shares of the company's stock worth $67,924,000 after purchasing an additional 1,521,668 shares during the last quarter. State Street Corp increased its position in shares of 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 purchasing an additional 87,669 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. raised its stake in shares of NETSTREIT by 36.7% during the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,207,703 shares of the company's stock worth $31,239,000 after purchasing an additional 592,439 shares in the last quarter. Finally, Geode Capital Management LLC boosted its holdings in shares of NETSTREIT by 6.0% in the 3rd quarter. Geode Capital Management LLC now owns 1,980,800 shares of the company's stock valued at $32,748,000 after buying an additional 112,047 shares during the last quarter.
Wall Street Analysts Forecast Growth
A number of equities analysts recently weighed in on the stock. Wells Fargo & Company assumed coverage on shares of NETSTREIT in a report on Monday. They set an "overweight" rating and a $18.00 target price on the stock. Mizuho raised their target price on shares of NETSTREIT from $15.00 to $17.00 and gave the company an "outperform" rating in a research note on Thursday, April 3rd. Capital One Financial began coverage on NETSTREIT in a research report on Wednesday, February 12th. They set an "overweight" rating on the stock. Finally, Raymond James cut their price objective on 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 analyst has rated the stock with a hold rating, six have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, NETSTREIT has a consensus rating of "Buy" and an average price target of $18.03.
View Our Latest Stock Report on NTST
Insiders Place Their Bets
In related news, CEO Mark Manheimer bought 6,384 shares of NETSTREIT stock in a transaction dated Monday, March 10th. The shares were bought at an average cost of $15.33 per share, with a total value of $97,866.72. Following the acquisition, the chief executive officer now owns 304,572 shares in the company, valued at $4,669,088.76. This trade represents a 2.14 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. Insiders have purchased a total of 12,000 shares of company stock worth $183,172 in the last 90 days. Company insiders own 0.46% of the company's stock.
NETSTREIT Stock Performance
Shares of NYSE:NTST traded up $0.43 during trading on Friday, reaching $15.49. 907,985 shares of the stock were exchanged, compared to its average volume of 914,828. NETSTREIT Corp. has a 12 month low of $13.42 and a 12 month high of $18.10. The stock has a 50-day moving average price of $14.90 and a 200-day moving average price of $15.11. The company has a current ratio of 4.11, a quick ratio of 4.11 and a debt-to-equity ratio of 0.57. The firm has a market cap of $1.27 billion, a PE ratio of -258.04 and a beta of 0.91.
NETSTREIT Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Friday, March 14th were given a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 5.42%. The ex-dividend date of this dividend was Friday, March 14th. NETSTREIT's dividend payout ratio is currently -525.00%.
About NETSTREIT
(
Free Report)
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.
See Also
Before you consider NETSTREIT, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and NETSTREIT wasn't on the list.
While NETSTREIT currently has a Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Like this article? Share it with a colleague.
Link copied to clipboard.
