AlphaQuest LLC Trims Stake in NETSTREIT Corp. (NYSE:NTST)

AlphaQuest LLC trimmed its holdings in NETSTREIT Corp. (NYSE:NTST - Free Report) by 57.3% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 109,582 shares of the company's stock after selling 146,769 shares during the period. AlphaQuest LLC owned approximately 0.13% of NETSTREIT worth $1,551,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also bought and sold shares of NTST. Van ECK Associates Corp grew its stake in NETSTREIT by 18.5% in the 3rd quarter. Van ECK Associates Corp now owns 13,363 shares of the company's stock valued at $214,000 after buying an additional 2,083 shares in the last quarter. M&G PLC purchased a new position in shares of NETSTREIT during the 3rd quarter valued at $173,000. State of New Jersey Common Pension Fund D grew its position in shares of NETSTREIT by 6.1% during the 3rd quarter. State of New Jersey Common Pension Fund D now owns 115,660 shares of the company's stock valued at $1,912,000 after purchasing an additional 6,690 shares in the last quarter. GSA Capital Partners LLP grew its position in shares of NETSTREIT by 107.8% during the 3rd quarter. GSA Capital Partners LLP now owns 149,651 shares of the company's stock valued at $2,474,000 after purchasing an additional 77,647 shares in the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. grew its position in shares of NETSTREIT by 1,931.7% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,615,264 shares of the company's stock valued at $26,700,000 after purchasing an additional 1,535,761 shares in the last quarter.

Wall Street Analysts Forecast Growth

NTST has been the subject of a number of recent analyst reports. Raymond James reduced their price target 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. Truist Financial reduced their price target on shares of NETSTREIT from $20.00 to $19.00 and set a "buy" rating for the company in a research report on Thursday, December 5th. Capital One Financial started coverage on shares of NETSTREIT in a research report on Wednesday, February 12th. They issued an "overweight" rating for the company. Finally, Mizuho cut their target price on shares of NETSTREIT from $17.00 to $15.00 and set an "outperform" rating for the company in a research report on Wednesday, January 8th. One analyst has rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus price target of $17.75.

Remove Ads

NETSTREIT Trading Up 0.6 %

NETSTREIT stock traded up $0.10 during mid-day trading on Thursday, hitting $15.01. The company's stock had a trading volume of 981,504 shares, compared to its average volume of 870,973. The company has a debt-to-equity ratio of 0.57, a current ratio of 4.11 and a quick ratio of 4.11. The stock has a market cap of $1.23 billion, a price-to-earnings ratio of -250.06 and a beta of 0.99. The business has a 50 day moving average price of $14.38 and a 200-day moving average price of $15.35. NETSTREIT Corp. has a 12 month low of $13.42 and a 12 month high of $18.97.

NETSTREIT Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be paid a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 5.60%. The ex-dividend date is Friday, March 14th. NETSTREIT's dividend payout ratio is presently -525.00%.

Insiders Place Their Bets

In other news, CEO Mark Manheimer acquired 6,384 shares of the stock in a transaction dated Monday, March 10th. The stock was purchased at an average cost of $15.33 per share, with a total value of $97,866.72. Following the completion of the purchase, the chief executive officer now owns 304,572 shares in the company, valued at approximately $4,669,088.76. The trade was a 2.14 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders acquired 12,000 shares of company stock valued at $183,172 over the last three months. Insiders own 0.46% of the company's stock.

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.