DigitalBridge Group Inc. Has $13.50 Million Stock Holdings in NETSTREIT Corp. (NYSE:NTST)

DigitalBridge Group Inc. raised its stake in NETSTREIT Corp. (NYSE:NTST - Free Report) by 1,175.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 953,968 shares of the company's stock after purchasing an additional 879,168 shares during the period. NETSTREIT accounts for approximately 1.0% of DigitalBridge Group Inc.'s investment portfolio, making the stock its 23rd biggest position. DigitalBridge Group Inc. owned approximately 1.17% of NETSTREIT worth $13,499,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. PNC Financial Services Group Inc. grew its stake in shares of NETSTREIT by 861.1% in the fourth quarter. PNC Financial Services Group Inc. now owns 5,430 shares of the company's stock valued at $77,000 after acquiring an additional 4,865 shares in the last quarter. Comerica Bank increased its holdings in shares of NETSTREIT by 174.3% during the fourth quarter. Comerica Bank now owns 9,703 shares of the company's stock worth $137,000 after purchasing an additional 6,166 shares during the period. Prudent Man Advisors LLC bought a new position in shares of NETSTREIT during the fourth quarter worth approximately $143,000. Mariner LLC acquired a new stake in shares of NETSTREIT in the fourth quarter valued at approximately $143,000. Finally, Envestnet Portfolio Solutions Inc. bought a new stake in shares of NETSTREIT in the fourth quarter valued at approximately $152,000.

Analysts Set New Price Targets

Several brokerages have weighed in on NTST. Raymond James dropped 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. Wells Fargo & Company began coverage on NETSTREIT in a research note on Monday, April 7th. They issued an "overweight" rating and a $18.00 price target for the company. 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, Capital One Financial assumed coverage on shares of NETSTREIT in a research report on Wednesday, February 12th. They issued an "overweight" rating for the company. One research analyst has rated the stock with a hold rating, six have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, NETSTREIT currently has an average rating of "Buy" and a consensus price target of $18.03.

NETSTREIT Trading Down 0.2 %

NYSE NTST opened at $16.06 on Wednesday. The company has a market cap of $1.31 billion, a price-to-earnings ratio of -267.54 and a beta of 0.90. NETSTREIT Corp. has a twelve month low of $13.42 and a twelve month high of $18.10. 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 business's fifty day moving average is $15.51 and its 200 day moving average is $15.11.

NETSTREIT Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Monday, June 2nd will be issued a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 5.23%. The ex-dividend date of this dividend is Monday, June 2nd. NETSTREIT's dividend payout ratio (DPR) is currently -560.00%.

Insider Activity

In related news, CEO Mark Manheimer purchased 6,384 shares of NETSTREIT stock in a transaction on Monday, March 10th. The shares were purchased at an average price of $15.33 per share, for a total transaction of $97,866.72. Following the transaction, 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 position. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders bought 12,000 shares of company stock valued at $183,172 over the last quarter. 0.58% of the stock is owned by company insiders.

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.

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