Alliancebernstein L.P. Purchases 90,148 Shares of NETSTREIT Corp. $NTST

Key Points

• AllianceBernstein L.P. increased its holdings in NETSTREIT Corp. by 4.8%, owning a total of 1,972,806 shares valued at $31.27 million as of the latest reporting period.
• NETSTREIT announced a quarterly dividend increase to $0.215 per share, reflecting a yield of 4.8%, with the dividend to be paid on September 15th.
• Wall Street analysts remain optimistic about NETSTREIT, with multiple firms issuing "outperform," "strong-buy," and "buy" ratings, and an average price target of $19.58.

Alliancebernstein L.P. raised its holdings in NETSTREIT Corp. (NYSE:NTST - Free Report) by 4.8% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,972,806 shares of the company's stock after purchasing an additional 90,148 shares during the quarter. Alliancebernstein L.P. owned 2.41% of NETSTREIT worth $31,269,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently bought and sold shares of the business. Amundi lifted its position in shares of NETSTREIT by 1.6% during the 1st quarter. Amundi now owns 45,361 shares of the company's stock valued at $709,000 after buying an additional 704 shares during the last quarter. Adage Capital Partners GP L.L.C. purchased a new position in shares of NETSTREIT during the 1st quarter valued at $9,397,000. Royal Bank of Canada lifted its position in shares of NETSTREIT by 343.1% during the 1st quarter. Royal Bank of Canada now owns 36,730 shares of the company's stock valued at $582,000 after buying an additional 28,441 shares during the last quarter. State of Wyoming purchased a new position in shares of NETSTREIT during the 1st quarter valued at $58,000. Finally, Corebridge Financial Inc. lifted its position in shares of NETSTREIT by 3.9% during the 1st quarter. Corebridge Financial Inc. now owns 40,168 shares of the company's stock valued at $637,000 after buying an additional 1,506 shares during the last quarter.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. Bank of America raised NETSTREIT from an "underperform" rating to a "neutral" rating and upped their price target for the company from $18.00 to $19.00 in a research report on Monday, July 28th. Scotiabank restated an "outperform" rating on shares of NETSTREIT in a research note on Wednesday, August 27th. Wells Fargo & Company raised their target price on NETSTREIT from $18.00 to $20.00 and gave the stock an "overweight" rating in a research note on Wednesday, August 27th. UBS Group raised their target price on NETSTREIT from $20.00 to $21.00 and gave the stock a "buy" rating in a research note on Friday, August 15th. Finally, Robert W. Baird raised their target price on NETSTREIT from $18.00 to $20.00 and gave the stock an "outperform" rating in a research note on Thursday, July 24th. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has given a Hold rating to the company's stock. Based on data from MarketBeat, NETSTREIT currently has a consensus rating of "Buy" and an average target price of $19.92.

Insiders Place Their Bets

In other news, CEO Mark Manheimer bought 5,600 shares of the company's stock in a transaction that occurred on Friday, September 5th. The stock was bought at an average price of $17.93 per share, for a total transaction of $100,408.00. Following the transaction, the chief executive officer directly owned 316,378 shares of the company's stock, valued at $5,672,657.54. This represents a 1.80% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.58% of the stock is owned by insiders.

NETSTREIT Price Performance

Shares of NTST traded up $0.01 during trading hours on Friday, reaching $18.26. 250,657 shares of the company's stock traded hands, compared to its average volume of 1,024,645. The stock has a market cap of $1.52 billion, a PE ratio of -228.19, a price-to-earnings-growth ratio of 4.19 and a beta of 0.89. The company has a current ratio of 3.83, a quick ratio of 3.83 and a debt-to-equity ratio of 0.70. The firm's 50 day simple moving average is $18.13 and its 200-day simple moving average is $16.61. NETSTREIT Corp. has a 12 month low of $13.42 and a 12 month high of $19.18.

NETSTREIT Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Tuesday, September 2nd will be given a $0.215 dividend. This represents a $0.86 dividend on an annualized basis and a yield of 4.7%. The ex-dividend date is Tuesday, September 2nd. This is a positive change from NETSTREIT's previous quarterly dividend of $0.21. NETSTREIT's dividend payout ratio is presently -1,075.00%.

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.