Pitcairn Co. Takes Position in NETSTREIT Corp. (NYSE:NTST)

Pitcairn Co. bought a new stake in NETSTREIT Corp. (NYSE:NTST - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 19,497 shares of the company's stock, valued at approximately $276,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in NTST. Vanguard Group Inc. grew its position in NETSTREIT by 3.0% in the fourth quarter. Vanguard Group Inc. now owns 7,959,793 shares of the company's stock valued at $112,631,000 after acquiring an additional 234,695 shares during the last quarter. Principal Financial Group Inc. boosted its stake in shares of NETSTREIT by 46.4% in the 4th quarter. Principal Financial Group Inc. now owns 4,800,208 shares of the company's stock valued at $67,924,000 after purchasing an additional 1,521,668 shares in the last quarter. State Street Corp grew its holdings in shares of NETSTREIT by 2.9% during the 3rd quarter. State Street Corp now owns 3,104,081 shares of the company's stock valued at $51,310,000 after purchasing an additional 87,669 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. increased its position in 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 in the last quarter. Finally, Geode Capital Management LLC lifted its stake in NETSTREIT by 2.1% in the 4th quarter. Geode Capital Management LLC now owns 2,022,772 shares of the company's stock valued at $28,628,000 after purchasing an additional 41,972 shares during the last quarter.

Insider Transactions at NETSTREIT

In other NETSTREIT news, CEO Mark Manheimer acquired 3,616 shares of the stock in a transaction dated Friday, March 7th. The stock was purchased at an average cost 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 in the company, valued at approximately $4,493,735.44. The trade was a 1.24 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. In the last 90 days, insiders have bought 12,000 shares of company stock worth $183,172. Company insiders own 0.46% of the company's stock.

Analyst Ratings Changes

A number of analysts have weighed in on the stock. 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 note on Friday, January 17th. Mizuho boosted their price objective on NETSTREIT from $15.00 to $17.00 and gave the stock an "outperform" rating in a research report on Thursday, April 3rd. Wells Fargo & Company began coverage on NETSTREIT in a research report on Monday. They issued an "overweight" rating and a $18.00 target price for the company. Finally, Capital One Financial began coverage on NETSTREIT in a report on Wednesday, February 12th. They set an "overweight" rating on the stock. One 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 stock. According to data from MarketBeat.com, NETSTREIT presently has an average rating of "Buy" and a consensus target price of $18.03.

NETSTREIT Trading Up 2.8 %

Shares of NTST stock traded up $0.43 on Friday, hitting $15.49. The company had a trading volume of 907,985 shares, compared to its average volume of 914,828. The stock's 50-day moving average is $14.90 and its two-hundred day moving average is $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. The firm has a market cap of $1.27 billion, a P/E ratio of -258.04 and a beta of 0.91. NETSTREIT Corp. has a twelve month low of $13.42 and a twelve month high of $18.10.

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 issued a dividend of $0.21 per share. The ex-dividend date was Friday, March 14th. This represents a $0.84 annualized dividend and a yield of 5.42%. NETSTREIT's payout ratio is -525.00%.

About NETSTREIT

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.