Quantbot Technologies LP lessened its holdings in NETSTREIT Corp. (NYSE:NTST - Free Report) by 30.5% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 100,699 shares of the company's stock after selling 44,251 shares during the quarter. Quantbot Technologies LP owned about 0.12% of NETSTREIT worth $1,425,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Swiss National Bank boosted its position in shares of NETSTREIT by 5.7% in the 4th quarter. Swiss National Bank now owns 152,200 shares of the company's stock worth $2,154,000 after purchasing an additional 8,200 shares in the last quarter. Nordea Investment Management AB bought a new stake in NETSTREIT in the fourth quarter worth $6,714,000. JPMorgan Chase & Co. increased its holdings in shares of NETSTREIT by 173.9% during the third quarter. JPMorgan Chase & Co. now owns 569,527 shares of the company's stock valued at $9,414,000 after acquiring an additional 361,577 shares in the last quarter. Vestcor Inc bought a new position in shares of NETSTREIT during the third quarter valued at $913,000. Finally, Geode Capital Management LLC raised its position in shares of NETSTREIT by 6.0% in the 3rd quarter. Geode Capital Management LLC now owns 1,980,800 shares of the company's stock worth $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 6,384 shares of NETSTREIT stock in a transaction dated Monday, March 10th. The stock was purchased at an average cost of $15.33 per share, for a total transaction of $97,866.72. Following the purchase, the chief executive officer now directly owns 304,572 shares of the company's stock, valued at approximately $4,669,088.76. This trade represents a 2.14 % increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Over the last ninety days, insiders have acquired 12,000 shares of company stock worth $183,172. Company insiders own 0.46% of the company's stock.
NETSTREIT Stock Performance
Shares of NETSTREIT stock traded up $0.27 during trading hours on Friday, reaching $15.86. 716,851 shares of the stock traded hands, compared to its average volume of 907,099. NETSTREIT Corp. has a one year low of $13.42 and a one year high of $18.97. The firm has a market capitalization of $1.29 billion, a price-to-earnings ratio of -264.22 and a beta of 0.99. The company has a quick ratio of 4.11, a current ratio of 4.11 and a debt-to-equity ratio of 0.57. The company has a 50 day moving average price of $14.69 and a 200 day moving average price of $15.24.
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 of this dividend is Friday, March 14th. This represents a $0.84 dividend on an annualized basis and a yield of 5.30%. NETSTREIT's dividend payout ratio is currently -525.00%.
Analysts Set New Price Targets
A number of research firms have weighed in on NTST. Capital One Financial began coverage on shares of NETSTREIT in a research note on Wednesday, February 12th. They set an "overweight" rating for the company. Raymond James cut their target price on NETSTREIT from $19.00 to $17.00 and set a "strong-buy" rating on the stock in a research note on Friday, January 17th. Truist Financial decreased their price target on NETSTREIT from $20.00 to $19.00 and set a "buy" rating for the company in a research note on Thursday, December 5th. Finally, Mizuho dropped their price objective on NETSTREIT from $17.00 to $15.00 and set an "outperform" rating on the stock in a research report on Wednesday, January 8th. One equities research analyst has rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average target price of $17.75.
View Our Latest Analysis on NTST
About NETSTREIT
(
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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