ClearAlpha Technologies LP acquired a new position in shares of NETSTREIT Corp. (NYSE:NTST - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 25,488 shares of the company's stock, valued at approximately $361,000.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Principal Financial Group Inc. boosted 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 valued at $67,924,000 after acquiring an additional 1,521,668 shares during the period. Tributary Capital Management LLC acquired a new position in NETSTREIT during the 4th quarter valued at $12,633,000. Lasalle Investment Management Securities LLC raised its stake in NETSTREIT by 30.8% during the 4th quarter. Lasalle Investment Management Securities LLC now owns 3,449,229 shares of the company's stock valued at $48,807,000 after purchasing an additional 811,632 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. boosted its holdings in NETSTREIT by 36.7% in the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,207,703 shares of the company's stock valued at $31,239,000 after purchasing an additional 592,439 shares during the period. Finally, Nordea Investment Management AB acquired a new stake in NETSTREIT in the 4th quarter worth $6,714,000.
Analyst Upgrades and Downgrades
A number of brokerages have recently commented on NTST. Mizuho upped their price objective on shares of NETSTREIT from $15.00 to $17.00 and gave the company an "outperform" rating in a research report on Thursday, April 3rd. Raymond James cut their price target on NETSTREIT from $19.00 to $17.00 and set a "strong-buy" rating for the company in a report on Friday, January 17th. Capital One Financial began coverage on NETSTREIT in a research report on Wednesday, February 12th. They set an "overweight" rating on the stock. Finally, Wells Fargo & Company initiated coverage on NETSTREIT in a research report on Monday, April 7th. They issued an "overweight" rating and a $18.00 target price for the company. One equities research analyst has rated the stock with a hold rating, six have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, NETSTREIT has an average rating of "Buy" and an average price target of $18.03.
Read Our Latest Analysis on NETSTREIT
NETSTREIT Price Performance
NYSE:NTST traded down $0.45 during trading hours on Wednesday, reaching $16.00. The company had a trading volume of 816,692 shares, compared to its average volume of 918,224. The company has a quick ratio of 4.11, a current ratio of 4.11 and a debt-to-equity ratio of 0.57. The stock has a 50-day moving average of $15.22 and a two-hundred day moving average of $15.12. NETSTREIT Corp. has a one year low of $13.42 and a one year high of $18.10. The firm has a market capitalization of $1.31 billion, a PE ratio of -266.62 and a beta of 0.91.
NETSTREIT Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, March 14th were given a $0.21 dividend. The ex-dividend date of this dividend was Friday, March 14th. This represents a $0.84 dividend on an annualized basis and a yield of 5.25%. NETSTREIT's dividend payout ratio (DPR) is presently -525.00%.
Insider Buying and Selling at NETSTREIT
In other NETSTREIT 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 acquired at an average cost of $15.33 per share, with a total value of $97,866.72. Following the completion of the acquisition, the chief executive officer now directly 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders have bought a total of 12,000 shares of company stock worth $183,172 over the last ninety days. Corporate insiders own 0.58% of the company's stock.
NETSTREIT Company Profile
(
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.
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