NETSTREIT Corp. $NTST Shares Purchased by Alliancebernstein L.P.

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

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Assetmark Inc. boosted its position in shares of NETSTREIT by 126.3% during the 1st quarter. Assetmark Inc. now owns 2,150 shares of the company's stock worth $34,000 after purchasing an additional 1,200 shares in the last quarter. CWM LLC boosted its position in shares of NETSTREIT by 78.2% in the 1st quarter. CWM LLC now owns 2,253 shares of the company's stock worth $36,000 after buying an additional 989 shares in the last quarter. Lazard Asset Management LLC purchased a new stake in shares of NETSTREIT in the 4th quarter worth about $41,000. State of Wyoming purchased a new stake in shares of NETSTREIT in the 1st quarter worth about $58,000. Finally, GAMMA Investing LLC boosted its position in shares of NETSTREIT by 2,779.7% in the 1st quarter. GAMMA Investing LLC now owns 7,228 shares of the company's stock worth $115,000 after buying an additional 6,977 shares in the last quarter.

Insider Activity at NETSTREIT

In related news, CEO Mark Manheimer acquired 5,600 shares of the company's stock in a transaction dated Friday, September 5th. The stock was bought at an average price of $17.93 per share, with a total value of $100,408.00. Following the purchase, the chief executive officer directly owned 316,378 shares in the company, valued at $5,672,657.54. The trade was a 1.80% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 0.58% of the stock is currently owned by corporate insiders.

NETSTREIT Trading Down 0.0%

Shares of NYSE NTST traded down $0.01 on Friday, reaching $18.25. 569,581 shares of the company traded hands, compared to its average volume of 990,624. NETSTREIT Corp. has a fifty-two week low of $13.42 and a fifty-two week high of $19.18. The company has a 50 day moving average of $18.16 and a 200 day moving average of $16.65. 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 stock has a market capitalization of $1.52 billion, a PE ratio of -228.06, a P/E/G ratio of 4.19 and a beta of 0.89.

NETSTREIT Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Tuesday, September 2nd will be paid a dividend of $0.215 per share. The ex-dividend date of this dividend is Tuesday, September 2nd. This represents a $0.86 dividend on an annualized basis and a dividend yield of 4.7%. This is an increase from NETSTREIT's previous quarterly dividend of $0.21. NETSTREIT's dividend payout ratio is currently -1,075.00%.

Analyst Ratings Changes

NTST has been the topic of several recent research reports. Truist Financial set a $19.00 price objective on shares of NETSTREIT in a research report on Friday, July 25th. Bank of America upgraded shares of NETSTREIT from an "underperform" rating to a "neutral" rating and boosted their price objective for the stock from $18.00 to $19.00 in a research report on Monday, July 28th. Scotiabank reiterated an "outperform" rating on shares of NETSTREIT in a research report on Wednesday, August 27th. Mizuho upped their target price on shares of NETSTREIT from $17.00 to $20.00 and gave the company an "outperform" rating in a report on Thursday. Finally, UBS Group upped their target price on shares of NETSTREIT from $20.00 to $21.00 and gave the company a "buy" rating in a report on Friday, August 15th. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has given a Hold rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Buy" and an average target price of $19.92.

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.