Balyasny Asset Management L.P. Boosts Stake in NETSTREIT Corp. (NYSE:NTST)

Balyasny Asset Management L.P. grew its position in NETSTREIT Corp. (NYSE:NTST - Free Report) by 0.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,553,669 shares of the company's stock after acquiring an additional 20,215 shares during the quarter. Balyasny Asset Management L.P. owned about 3.13% of NETSTREIT worth $36,134,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in NTST. BNP Paribas Financial Markets purchased a new stake in NETSTREIT in the 4th quarter worth about $788,000. Ameriprise Financial Inc. raised its holdings in shares of NETSTREIT by 21.5% in the fourth quarter. Ameriprise Financial Inc. now owns 44,116 shares of the company's stock worth $624,000 after buying an additional 7,820 shares during the period. Freestone Grove Partners LP bought a new stake in shares of NETSTREIT during the 4th quarter worth approximately $363,000. Comerica Bank boosted its holdings in NETSTREIT by 174.3% during the 4th quarter. Comerica Bank now owns 9,703 shares of the company's stock valued at $137,000 after acquiring an additional 6,166 shares during the period. Finally, Northern Trust Corp grew its position in NETSTREIT by 31.2% in the 4th quarter. Northern Trust Corp now owns 881,688 shares of the company's stock valued at $12,476,000 after acquiring an additional 209,475 shares during the last quarter.

NETSTREIT Stock Up 1.2 %

NYSE NTST traded up $0.19 during midday trading on Friday, hitting $16.17. 861,590 shares of the company traded hands, compared to its average volume of 926,113. NETSTREIT Corp. has a 52 week low of $13.42 and a 52 week high of $18.10. The company's 50-day simple moving average is $15.57 and its 200-day simple moving average is $15.12. The company has a market cap of $1.32 billion, a PE ratio of -269.46 and a beta of 0.90. 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 Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Monday, June 2nd will be paid a $0.21 dividend. The ex-dividend date of this dividend is Monday, June 2nd. This represents a $0.84 annualized dividend and a yield of 5.19%. NETSTREIT's dividend payout ratio (DPR) is presently -560.00%.

Insiders Place Their Bets

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 price of $15.22 per share, with a total value of $55,035.52. Following the transaction, the chief executive officer now directly owns 295,252 shares of the company's stock, valued at $4,493,735.44. This trade represents a 1.24 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Over the last ninety days, insiders bought 12,000 shares of company stock worth $183,172. 0.58% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on NTST shares. Raymond James lowered their target price on shares of NETSTREIT from $19.00 to $17.00 and set a "strong-buy" rating for the company in a research note on Friday, January 17th. 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 for the company. Capital One Financial assumed coverage on shares of NETSTREIT in a research note on Wednesday, February 12th. They set an "overweight" rating for the company. Finally, Mizuho increased their price objective on NETSTREIT from $15.00 to $17.00 and gave the stock an "outperform" rating in a research note on Thursday, April 3rd. One research analyst has rated the stock with a hold rating, six have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Buy" and an average price target 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.