Norges Bank Invests $3.04 Million in NETSTREIT Corp. (NYSE:NTST)

Norges Bank bought a new stake in NETSTREIT Corp. (NYSE:NTST - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 214,900 shares of the company's stock, valued at approximately $3,041,000. Norges Bank owned approximately 0.26% of NETSTREIT as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently bought and sold shares of NTST. Vanguard Group Inc. lifted its position in NETSTREIT by 3.0% during the 4th quarter. Vanguard Group Inc. now owns 7,959,793 shares of the company's stock worth $112,631,000 after buying an additional 234,695 shares in the last quarter. Principal Financial Group Inc. increased its holdings in NETSTREIT by 46.4% during 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 during the last quarter. State Street Corp raised its position in NETSTREIT by 2.9% during the third quarter. State Street Corp now owns 3,104,081 shares of the company's stock worth $51,310,000 after acquiring an additional 87,669 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. increased its stake in shares of NETSTREIT by 36.7% during the 4th 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 during the last quarter. Finally, Geode Capital Management LLC lifted its stake in NETSTREIT by 6.0% in the 3rd quarter. Geode Capital Management LLC now owns 1,980,800 shares of the company's stock valued at $32,748,000 after purchasing an additional 112,047 shares during the last quarter.

Insiders Place Their Bets

In related news, CEO Mark Manheimer acquired 3,616 shares of the stock in a transaction that occurred on Friday, March 7th. The stock was acquired at an average cost of $15.22 per share, for a total transaction of $55,035.52. Following the transaction, the chief executive officer now directly owns 295,252 shares in the company, valued at $4,493,735.44. This trade represents a 1.24 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Over the last 90 days, insiders acquired 12,000 shares of company stock valued at $183,172. 0.46% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on NTST. Wells Fargo & Company assumed coverage on NETSTREIT in a report on Monday, April 7th. They set an "overweight" rating and a $18.00 price target for the company. Mizuho upped their price target on shares of NETSTREIT from $15.00 to $17.00 and gave the company an "outperform" rating in a research note on Thursday, April 3rd. Capital One Financial began coverage on NETSTREIT in a report on Wednesday, February 12th. They set an "overweight" rating for the company. Finally, Raymond James decreased their price objective on NETSTREIT from $19.00 to $17.00 and set a "strong-buy" rating on the stock in a report on Friday, January 17th. One equities research analyst has rated the stock with a hold rating, six have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Buy" and an average price target of $18.03.

NETSTREIT Price Performance

NTST traded up $0.22 during trading on Wednesday, hitting $16.43. 63,944 shares of the stock traded hands, compared to its average volume of 913,013. The business has a 50 day moving average price of $14.96 and a 200 day moving average price of $15.11. The company has a market cap of $1.34 billion, a price-to-earnings ratio of -272.95 and a beta of 0.91. NETSTREIT Corp. has a twelve month low of $13.42 and a twelve month high of $18.10. The company has a debt-to-equity ratio of 0.57, a current ratio of 4.11 and a quick ratio of 4.11.

NETSTREIT Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, March 14th were given a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 5.11%. The ex-dividend date of this dividend was Friday, March 14th. NETSTREIT's dividend payout ratio is presently -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.