NETSTREIT Corp. (NYSE:NTST) Shares Purchased by Bank of New York Mellon Corp

Bank of New York Mellon Corp raised its position in shares of NETSTREIT Corp. (NYSE:NTST - Free Report) by 7.6% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 346,688 shares of the company's stock after purchasing an additional 24,442 shares during the quarter. Bank of New York Mellon Corp owned 0.42% of NETSTREIT worth $4,906,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Y Intercept Hong Kong Ltd grew its position in shares of NETSTREIT by 162.9% during the 4th quarter. Y Intercept Hong Kong Ltd now owns 72,643 shares of the company's stock valued at $1,028,000 after acquiring an additional 45,007 shares during the period. New York State Common Retirement Fund lifted its stake in NETSTREIT by 913.4% in the 4th quarter. New York State Common Retirement Fund now owns 230,897 shares of the company's stock worth $3,267,000 after purchasing an additional 208,113 shares in the last quarter. Principal Financial Group Inc. lifted its position in shares of NETSTREIT by 46.4% in the fourth quarter. Principal Financial Group Inc. now owns 4,800,208 shares of the company's stock worth $67,924,000 after buying an additional 1,521,668 shares in the last quarter. State of New Jersey Common Pension Fund D boosted its stake in NETSTREIT by 13.9% during the fourth quarter. State of New Jersey Common Pension Fund D now owns 131,692 shares of the company's stock valued at $1,863,000 after buying an additional 16,032 shares during the last quarter. Finally, Rhumbline Advisers grew its holdings in NETSTREIT by 5.9% during the 4th quarter. Rhumbline Advisers now owns 133,894 shares of the company's stock valued at $1,895,000 after buying an additional 7,477 shares in the last quarter.

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Analysts Set New Price Targets

Several research analysts recently commented on the company. Raymond James dropped their price target 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. Truist Financial reduced their target price on NETSTREIT from $20.00 to $19.00 and set a "buy" rating on the stock in a research note on Thursday, December 5th. Mizuho lowered their price objective 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. Finally, Capital One Financial started coverage on NETSTREIT in a report on Wednesday, February 12th. They set an "overweight" rating on the stock. One analyst has rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Buy" and a consensus price target of $17.75.

NETSTREIT Stock Performance

NTST stock traded down $0.28 during midday trading on Friday, hitting $15.04. 388,171 shares of the stock traded hands, compared to its average volume of 878,066. The firm has a market cap of $1.23 billion, a P/E ratio of -250.66 and a beta of 0.99. NETSTREIT Corp. has a 1-year low of $13.42 and a 1-year high of $18.97. 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's fifty day simple moving average is $14.56 and its 200-day simple moving average is $15.29.

NETSTREIT Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 14th will be given a $0.21 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $0.84 annualized dividend and a dividend yield of 5.58%. NETSTREIT's dividend payout ratio (DPR) is presently -525.00%.

Insider Activity at NETSTREIT

In related news, CEO Mark Manheimer purchased 6,384 shares of the business's stock in a transaction that occurred on Monday, March 10th. The stock was purchased at an average price of $15.33 per share, with a total value of $97,866.72. Following the completion of 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 ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link. In the last ninety days, insiders bought 12,000 shares of company stock valued at $183,172. 0.46% of the stock is owned by insiders.

NETSTREIT 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.