ExodusPoint Capital Management LP Sells 464,013 Shares of NETSTREIT Corp. (NYSE:NTST)

ExodusPoint Capital Management LP cut its position in NETSTREIT Corp. (NYSE:NTST - Free Report) by 63.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 272,967 shares of the company's stock after selling 464,013 shares during the period. ExodusPoint Capital Management LP owned about 0.33% of NETSTREIT worth $3,862,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Principal Financial Group Inc. increased its stake in NETSTREIT by 46.4% in the 4th 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. Tributary Capital Management LLC bought a new position in shares of NETSTREIT in the fourth quarter worth about $12,633,000. Sumitomo Mitsui Trust Group Inc. grew its position in shares of NETSTREIT by 36.7% during the fourth 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. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of NETSTREIT by 765.7% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 635,707 shares of the company's stock worth $10,508,000 after purchasing an additional 562,273 shares in the last quarter. Finally, Nordea Investment Management AB bought a new stake in NETSTREIT during the 4th quarter valued at approximately $6,714,000.

Insider Buying and Selling

In related news, CEO Mark Manheimer acquired 6,384 shares of the firm's stock in a transaction on Monday, March 10th. The shares were acquired at an average cost of $15.33 per share, for a total transaction of $97,866.72. Following the completion of the transaction, the chief executive officer now directly owns 304,572 shares in the company, valued at approximately $4,669,088.76. This trade represents a 2.14 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Over the last quarter, insiders purchased 12,000 shares of company stock worth $183,172. Corporate insiders own 0.46% of the company's stock.

Analyst Ratings Changes

Several research analysts have weighed in on NTST shares. 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 note on Friday, January 17th. Capital One Financial assumed coverage on shares of NETSTREIT in a research report on Wednesday, February 12th. They set an "overweight" rating for the company. Mizuho lifted their price target on shares of NETSTREIT from $15.00 to $17.00 and gave the company an "outperform" rating in a report on Thursday, April 3rd. Finally, Wells Fargo & Company assumed coverage on shares of NETSTREIT in a report on Monday. They set an "overweight" rating and a $18.00 price objective for the company. One equities research analyst has rated the stock with a hold rating, six have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Buy" and a consensus price target of $18.03.

NETSTREIT Price Performance

NTST stock traded up $0.43 during trading on Friday, hitting $15.49. 907,985 shares of the company's stock traded hands, compared to its average volume of 914,828. NETSTREIT Corp. has a 52 week low of $13.42 and a 52 week high of $18.10. The stock has a market capitalization of $1.27 billion, a price-to-earnings ratio of -258.04 and a beta of 0.91. The business has a fifty day simple moving average of $14.90 and a 200 day simple moving average of $15.11. The company has a debt-to-equity ratio of 0.57, a quick ratio of 4.11 and a current ratio of 4.11.

NETSTREIT Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Friday, March 14th were issued a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 5.42%. The ex-dividend date of this dividend was Friday, March 14th. NETSTREIT's payout ratio is -525.00%.

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.