Connor Clark & Lunn Investment Management Ltd. Decreases Holdings in NETSTREIT Corp. (NYSE:NTST)

Connor Clark & Lunn Investment Management Ltd. reduced its stake in shares of NETSTREIT Corp. (NYSE:NTST - Free Report) by 18.8% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 76,828 shares of the company's stock after selling 17,746 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned 0.09% of NETSTREIT worth $1,087,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. PNC Financial Services Group Inc. increased its position in NETSTREIT by 861.1% during the fourth quarter. PNC Financial Services Group Inc. now owns 5,430 shares of the company's stock worth $77,000 after purchasing an additional 4,865 shares during the last quarter. Prudent Man Advisors LLC purchased a new stake in shares of NETSTREIT in the 4th quarter valued at approximately $143,000. Hohimer Wealth Management LLC acquired a new stake in shares of NETSTREIT during the 3rd quarter worth approximately $166,000. Sanctuary Advisors LLC purchased a new stake in shares of NETSTREIT during the 3rd quarter valued at approximately $169,000. Finally, Infrastructure Capital Advisors LLC acquired a new position in NETSTREIT in the third quarter valued at approximately $177,000.

Insider Activity

In other news, CEO Mark Manheimer bought 3,616 shares of NETSTREIT stock in a transaction that occurred on Friday, March 7th. The shares were purchased at an average price of $15.22 per share, with a total value of $55,035.52. Following the completion of the acquisition, the chief executive officer now directly owns 295,252 shares in the company, valued at $4,493,735.44. The trade was a 1.24 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Over the last three months, insiders have purchased 12,000 shares of company stock worth $183,172. Corporate insiders own 0.46% of the company's stock.

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NETSTREIT Trading Up 1.6 %

NETSTREIT stock traded up $0.25 during midday trading on Monday, reaching $15.27. 427,743 shares of the stock traded hands, compared to its average volume of 877,169. The firm has a market cap of $1.25 billion, a PE ratio of -254.37 and a beta of 0.99. 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 company has a 50-day simple moving average of $14.59 and a two-hundred day simple moving average of $15.26. NETSTREIT Corp. has a 12-month low of $13.42 and a 12-month high of $18.97.

NETSTREIT Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be issued a dividend of $0.21 per share. The ex-dividend date is Friday, March 14th. This represents a $0.84 dividend on an annualized basis and a yield of 5.50%. NETSTREIT's dividend payout ratio (DPR) is presently -525.00%.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the company. Truist Financial cut their target price on NETSTREIT from $20.00 to $19.00 and set a "buy" rating for the company in a research note on Thursday, December 5th. Mizuho cut their price objective on NETSTREIT from $17.00 to $15.00 and set an "outperform" rating for the company in a research report on Wednesday, January 8th. Raymond James decreased their target price on shares of NETSTREIT from $19.00 to $17.00 and set a "strong-buy" rating on the stock in a research report on Friday, January 17th. Finally, Capital One Financial assumed coverage on shares of NETSTREIT in a research note on Wednesday, February 12th. They set an "overweight" rating for the company. 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. Based on data from MarketBeat, the stock presently has a consensus rating of "Buy" and an average target price of $17.75.

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.