Envestnet Asset Management Inc. Increases Holdings in NETSTREIT Corp. (NYSE:NTST)

Envestnet Asset Management Inc. lifted its holdings in NETSTREIT Corp. (NYSE:NTST - Free Report) by 520.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 154,408 shares of the company's stock after purchasing an additional 129,516 shares during the quarter. Envestnet Asset Management Inc. owned 0.19% of NETSTREIT worth $2,185,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also bought and sold shares of the company. Swiss National Bank lifted its stake in shares of 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 purchasing an additional 8,200 shares during the last quarter. Nordea Investment Management AB bought a new position in NETSTREIT in the fourth quarter worth approximately $6,714,000. JPMorgan Chase & Co. raised its holdings in shares of NETSTREIT by 173.9% in the third quarter. JPMorgan Chase & Co. now owns 569,527 shares of the company's stock valued at $9,414,000 after acquiring an additional 361,577 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in NETSTREIT by 5.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,133,552 shares of the company's stock valued at $16,040,000 after buying an additional 55,378 shares during the period. Finally, Bank of New York Mellon Corp raised its position in shares of NETSTREIT by 7.6% in the 4th quarter. Bank of New York Mellon Corp now owns 346,688 shares of the company's stock worth $4,906,000 after acquiring an additional 24,442 shares in the last quarter.

NETSTREIT Stock Performance

Shares of NYSE NTST traded down $0.06 during trading hours on Thursday, hitting $16.22. 104,056 shares of the company's stock were exchanged, compared to its average volume of 918,356. The stock has a market capitalization of $1.32 billion, a price-to-earnings ratio of -269.87 and a beta of 0.91. 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 Corp. has a 1-year low of $13.42 and a 1-year high of $18.10. The company's 50-day moving average price is $15.39 and its 200-day moving average price is $15.13.

NETSTREIT Announces Dividend

The firm also recently disclosed 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 is Monday, June 2nd. This represents a $0.84 annualized dividend and a yield of 5.18%. NETSTREIT's dividend payout ratio is -525.00%.

Insider Activity

In other news, CEO Mark Manheimer acquired 6,384 shares of the business's stock in a transaction that occurred on Monday, March 10th. The stock was acquired at an average price of $15.33 per share, with a total value of $97,866.72. Following the completion of the transaction, the chief executive officer now directly owns 304,572 shares of the company's stock, valued at $4,669,088.76. This trade represents a 2.14 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders acquired a total of 12,000 shares of company stock valued at $183,172 over the last three months. Insiders own 0.58% of the company's stock.

Analyst Ratings Changes

NTST has been the subject of a number of research analyst reports. Wells Fargo & Company initiated coverage on shares of NETSTREIT in a report on Monday, April 7th. They issued an "overweight" rating and a $18.00 price target for the company. Capital One Financial began coverage on shares of NETSTREIT in a research note on Wednesday, February 12th. They set an "overweight" rating on the stock. Mizuho lifted their price target on NETSTREIT from $15.00 to $17.00 and gave the company an "outperform" rating in a research note on Thursday, April 3rd. Finally, Raymond James decreased their price objective on shares of NETSTREIT from $19.00 to $17.00 and set a "strong-buy" rating on the stock in a report on Friday, January 17th. One 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's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Buy" and a consensus 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.