DigitalBridge Group Inc. Buys 879,168 Shares of NETSTREIT Corp. (NYSE:NTST)

DigitalBridge Group Inc. boosted its stake in NETSTREIT Corp. (NYSE:NTST - Free Report) by 1,175.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 953,968 shares of the company's stock after purchasing an additional 879,168 shares during the quarter. NETSTREIT comprises about 1.0% of DigitalBridge Group Inc.'s holdings, making the stock its 23rd biggest position. DigitalBridge Group Inc. owned 1.17% of NETSTREIT worth $13,499,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Barclays PLC lifted its holdings in shares of NETSTREIT by 216.9% in the 3rd quarter. Barclays PLC now owns 123,066 shares of the company's stock worth $2,033,000 after purchasing an additional 84,226 shares in the last quarter. JPMorgan Chase & Co. lifted its position in shares of NETSTREIT by 173.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 569,527 shares of the company's stock worth $9,414,000 after buying an additional 361,577 shares in the last quarter. Nordea Investment Management AB purchased a new position in shares of NETSTREIT in the 4th quarter worth approximately $6,714,000. SG Americas Securities LLC grew its holdings in shares of NETSTREIT by 12.9% in the fourth quarter. SG Americas Securities LLC now owns 37,604 shares of the company's stock valued at $532,000 after acquiring an additional 4,284 shares in the last quarter. Finally, Janney Montgomery Scott LLC bought a new position in shares of NETSTREIT in the fourth quarter valued at approximately $198,000.

Analyst Upgrades and Downgrades

A number of analysts recently commented on NTST shares. Mizuho lifted their price target on NETSTREIT from $15.00 to $17.00 and gave the stock an "outperform" rating in a report on Thursday, April 3rd. Raymond James lowered 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. Capital One Financial assumed coverage on shares of NETSTREIT in a research report on Wednesday, February 12th. They set an "overweight" rating for the company. Finally, Wells Fargo & Company assumed coverage on shares of NETSTREIT in a report on Monday, April 7th. They set an "overweight" rating and a $18.00 price objective for the company. 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 stock. Based on data from MarketBeat, the company presently has a consensus rating of "Buy" and a consensus target price of $18.03.

Insider Activity at NETSTREIT

In other NETSTREIT news, CEO Mark Manheimer acquired 6,384 shares of NETSTREIT stock in a transaction that occurred on Monday, March 10th. The stock was acquired 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 owns 304,572 shares of the company's stock, valued at approximately $4,669,088.76. This represents a 2.14% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In the last ninety days, insiders have acquired 12,000 shares of company stock worth $183,172. 0.58% of the stock is owned by corporate insiders.

NETSTREIT Stock Performance

NTST traded down $0.36 during trading hours on Monday, hitting $15.79. The stock had a trading volume of 741,279 shares, compared to its average volume of 927,129. NETSTREIT Corp. has a 1 year low of $13.42 and a 1 year high of $18.10. The company's fifty day simple moving average is $15.57 and its 200 day simple moving average is $15.10. The stock has a market cap of $1.29 billion, a PE ratio of -263.12 and a beta of 0.90. 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 Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Monday, June 2nd will be given a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 5.32%. The ex-dividend date is Monday, June 2nd. NETSTREIT's dividend payout ratio (DPR) is currently -560.00%.

NETSTREIT 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.