Vanguard Group Inc. Increases Stock Position in NETSTREIT Corp. (NYSE:NTST)

Vanguard Group Inc. raised its holdings in NETSTREIT Corp. (NYSE:NTST - Free Report) by 3.0% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 7,959,793 shares of the company's stock after acquiring an additional 234,695 shares during the quarter. Vanguard Group Inc. owned 9.76% of NETSTREIT worth $112,631,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. PNC Financial Services Group Inc. increased its holdings in shares of NETSTREIT by 861.1% in the 4th quarter. PNC Financial Services Group Inc. now owns 5,430 shares of the company's stock valued at $77,000 after purchasing an additional 4,865 shares in the last quarter. Prudent Man Advisors LLC purchased a new position in NETSTREIT in the fourth quarter valued at about $143,000. Envestnet Portfolio Solutions Inc. acquired a new stake in shares of NETSTREIT during the 4th quarter valued at approximately $152,000. Hohimer Wealth Management LLC purchased a new stake in shares of NETSTREIT during the 3rd quarter worth approximately $166,000. Finally, Sanctuary Advisors LLC acquired a new stake in shares of NETSTREIT in the 3rd quarter worth approximately $169,000.

NETSTREIT Trading Up 2.8 %

Shares of NTST traded up $0.43 on Friday, hitting $15.49. 907,985 shares of the stock traded hands, compared to its average volume of 915,116. NETSTREIT Corp. has a 1 year low of $13.42 and a 1 year high of $18.10. The stock's 50 day moving average is $14.90 and its two-hundred day moving average is $15.10. The firm has a market capitalization of $1.27 billion, a P/E ratio of -258.04 and a beta of 0.91. The company has a quick ratio of 4.11, a current ratio of 4.11 and a debt-to-equity ratio of 0.57.

NETSTREIT Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Friday, March 14th were paid a $0.21 dividend. 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 currently -525.00%.

Insider Buying and Selling

In other NETSTREIT news, CEO Mark Manheimer purchased 6,384 shares of the stock in a transaction on Monday, March 10th. The stock was bought at an average price of $15.33 per share, for a total transaction of $97,866.72. Following the acquisition, the chief executive officer now directly owns 304,572 shares of the company's stock, valued at $4,669,088.76. This represents a 2.14 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at this link. Over the last ninety days, insiders have acquired 12,000 shares of company stock worth $183,172. 0.46% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on NTST. Capital One Financial initiated coverage on NETSTREIT in a report on Wednesday, February 12th. They set an "overweight" rating for the company. Wells Fargo & Company began coverage on shares of NETSTREIT in a research report on Monday, April 7th. They issued an "overweight" rating and a $18.00 price objective on the stock. Mizuho raised their target price 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, Raymond James lowered their price target on shares of NETSTREIT from $19.00 to $17.00 and set a "strong-buy" rating on the stock in a research report on Friday, January 17th. One investment analyst has rated the stock with a hold rating, six have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of "Buy" and an average target price of $18.03.

NETSTREIT Company 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.