Legal & General Group Plc reduced its holdings in NETSTREIT Corp. (NYSE:NTST - Free Report) by 12.3% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 372,294 shares of the company's stock after selling 52,166 shares during the period. Legal & General Group Plc owned approximately 0.46% of NETSTREIT worth $5,268,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds have also recently made changes to their positions in the business. PNC Financial Services Group Inc. increased its stake 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 acquiring an additional 4,865 shares during the last quarter. Prudent Man Advisors LLC bought a new position in shares of NETSTREIT during the 4th quarter valued at approximately $143,000. Sanctuary Advisors LLC purchased a new stake in NETSTREIT during the 3rd quarter valued at $169,000. Envestnet Portfolio Solutions Inc. bought a new stake in NETSTREIT in the fourth quarter worth $152,000. Finally, Proficio Capital Partners LLC purchased a new position in NETSTREIT during the fourth quarter worth $179,000.
NETSTREIT Stock Down 2.7 %
NYSE NTST traded down $0.45 on Wednesday, reaching $16.00. 816,692 shares of the stock traded hands, compared to its average volume of 917,193. NETSTREIT Corp. has a 12 month low of $13.42 and a 12 month high of $18.10. The company has a debt-to-equity ratio of 0.57, a quick ratio of 4.11 and a current ratio of 4.11. The company has a fifty day moving average price of $15.18 and a 200-day moving average price of $15.11. The company has a market cap of $1.31 billion, a price-to-earnings ratio of -266.62 and a beta of 0.91.
NETSTREIT Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Friday, March 14th were paid a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 5.25%. The ex-dividend date of this dividend was Friday, March 14th. NETSTREIT's dividend payout ratio (DPR) is presently -525.00%.
Analyst Upgrades and Downgrades
Several research firms have recently issued reports on NTST. Capital One Financial began coverage on shares of NETSTREIT in a report on Wednesday, February 12th. They issued an "overweight" rating for the company. Raymond James decreased their price objective on shares of NETSTREIT from $19.00 to $17.00 and set a "strong-buy" rating for the company in a research note on Friday, January 17th. Mizuho upped their target price on NETSTREIT from $15.00 to $17.00 and gave the company an "outperform" rating in a research note on Thursday, April 3rd. Finally, Wells Fargo & Company initiated coverage on NETSTREIT in a research note on Monday, April 7th. They set an "overweight" rating and a $18.00 price target for the company. One research analyst has rated the stock with a hold rating, six have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Buy" and an average price target of $18.03.
View Our Latest Report on NETSTREIT
Insiders Place Their Bets
In other NETSTREIT news, CEO Mark Manheimer purchased 3,616 shares of the stock in a transaction dated Friday, March 7th. The stock was purchased at an average price of $15.22 per share, with a total value of $55,035.52. Following the transaction, the chief executive officer now owns 295,252 shares of the company's stock, valued at approximately $4,493,735.44. This trade represents a 1.24 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders have acquired a total of 12,000 shares of company stock worth $183,172 in the last three months. Corporate insiders own 0.58% of the company's stock.
NETSTREIT Profile
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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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