Wells Fargo & Company MN Purchases 48,521 Shares of NETSTREIT Corp. (NYSE:NTST)

Wells Fargo & Company MN grew its position in NETSTREIT Corp. (NYSE:NTST - Free Report) by 37.4% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 178,146 shares of the company's stock after purchasing an additional 48,521 shares during the period. Wells Fargo & Company MN owned approximately 0.22% of NETSTREIT worth $2,521,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the company. Swiss National Bank increased its position in NETSTREIT by 5.7% in the 4th quarter. Swiss National Bank now owns 152,200 shares of the company's stock valued at $2,154,000 after acquiring an additional 8,200 shares during the period. Nordea Investment Management AB acquired a new position in shares of NETSTREIT during the fourth quarter valued at $6,714,000. JPMorgan Chase & Co. raised its stake 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 purchasing an additional 361,577 shares in the last quarter. Geode Capital Management LLC lifted its holdings in NETSTREIT by 6.0% in the third 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 period. Finally, Charles Schwab Investment Management Inc. lifted its holdings in NETSTREIT by 5.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,133,552 shares of the company's stock worth $16,040,000 after purchasing an additional 55,378 shares during the period.

NETSTREIT Trading Down 0.1 %

Shares of NETSTREIT stock traded down $0.01 during trading on Monday, hitting $15.61. The stock had a trading volume of 1,252,445 shares, compared to its average volume of 918,463. 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 market capitalization of $1.28 billion, a PE ratio of -260.12 and a beta of 0.91. NETSTREIT Corp. has a 1 year low of $13.42 and a 1 year high of $18.10. The stock has a 50 day simple moving average of $15.29 and a 200 day simple moving average of $15.12.

NETSTREIT (NYSE:NTST - Get Free Report) last announced its earnings results on Monday, April 28th. The company reported $0.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.31 by $0.01. NETSTREIT had a negative net margin of 2.96% and a negative return on equity of 0.35%. On average, research analysts expect that NETSTREIT Corp. will post 1.19 EPS for the current fiscal year.

NETSTREIT Announces Dividend

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 annualized dividend and a yield of 5.38%. The ex-dividend date was Friday, March 14th. NETSTREIT's dividend payout ratio is currently -525.00%.

Insiders Place Their Bets

In related news, CEO Mark Manheimer purchased 3,616 shares of the stock in a transaction dated Friday, March 7th. The shares were acquired at an average cost of $15.22 per share, for a total transaction of $55,035.52. Following the acquisition, the chief executive officer now directly 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 purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In the last ninety days, insiders acquired 12,000 shares of company stock worth $183,172. 0.58% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research firms have commented on NTST. Wells Fargo & Company initiated coverage on shares of NETSTREIT in a research report on Monday, April 7th. They set an "overweight" rating and a $18.00 price target on the stock. Capital One Financial began coverage on NETSTREIT in a research report on Wednesday, February 12th. They issued an "overweight" rating for the company. Mizuho lifted their price target on NETSTREIT from $15.00 to $17.00 and gave the company an "outperform" rating in a research report on Thursday, April 3rd. Finally, Raymond James cut their price objective on NETSTREIT from $19.00 to $17.00 and set a "strong-buy" rating for the company 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 assigned a strong buy rating to the company. Based on data from MarketBeat.com, NETSTREIT has a consensus rating of "Buy" and an average price target of $18.03.

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.