45,271 Shares in NETSTREIT Corp. (NYSE:NTST) Acquired by Allianz Asset Management GmbH

Key Points

• Allianz Asset Management GmbH has acquired a new position in NETSTREIT Corp., purchasing 45,271 shares valued at approximately $718,000, representing about 0.06% of the company's stock.
• Several institutional investors have significantly increased their stakes in NETSTREIT, with Principal Financial Group boosting its holdings by 61.3% during the 1st quarter, now owning 7,741,808 shares valued at $122,708,000.
• NETSTREIT recently announced a quarterly dividend of $0.215 per share, with an annualized yield of 4.7%, which is an increase from the previous dividend of $0.21.

Allianz Asset Management GmbH purchased a new position in NETSTREIT Corp. (NYSE:NTST - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 45,271 shares of the company's stock, valued at approximately $718,000. Allianz Asset Management GmbH owned approximately 0.06% of NETSTREIT at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Cohen & Steers Inc. lifted its stake in NETSTREIT by 3.0% in the 4th quarter. Cohen & Steers Inc. now owns 6,663,409 shares of the company's stock worth $94,287,000 after purchasing an additional 191,846 shares in the last quarter. Wedge Capital Management L L P NC purchased a new stake in shares of NETSTREIT during the 1st quarter valued at about $2,389,000. LPL Financial LLC purchased a new stake in shares of NETSTREIT during the 4th quarter valued at about $236,000. Freestone Grove Partners LP purchased a new stake in shares of NETSTREIT during the 4th quarter valued at about $363,000. Finally, Raymond James Financial Inc. purchased a new stake in shares of NETSTREIT during the 4th quarter valued at about $927,000.

NETSTREIT Price Performance

NTST traded up $0.08 on Friday, reaching $18.31. 2,137,113 shares of the company's stock were exchanged, compared to its average volume of 1,706,836. The stock has a market cap of $1.53 billion, a PE ratio of -228.88, a P/E/G ratio of 4.21 and a beta of 0.89. NETSTREIT Corp. has a twelve month low of $13.42 and a twelve month high of $18.93. The stock's fifty day moving average price is $16.99 and its 200-day moving average price is $15.80. The company has a debt-to-equity ratio of 0.70, a current ratio of 3.83 and a quick ratio of 3.83.

NETSTREIT Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Tuesday, September 2nd will be paid a dividend of $0.215 per share. This represents a $0.86 dividend on an annualized basis and a yield of 4.7%. This is a boost from NETSTREIT's previous quarterly dividend of $0.21. The ex-dividend date of this dividend is Tuesday, September 2nd. NETSTREIT's payout ratio is presently -1,050.00%.

Analyst Ratings Changes

Several brokerages have recently issued reports on NTST. Robert W. Baird upped their target price on shares of NETSTREIT from $18.00 to $20.00 and gave the company an "outperform" rating in a research report on Thursday, July 24th. UBS Group upped their price target on shares of NETSTREIT from $18.00 to $20.00 and gave the company a "buy" rating in a report on Wednesday, July 16th. Raymond James Financial reiterated a "strong-buy" rating and set a $21.00 price target on shares of NETSTREIT in a report on Wednesday. Wells Fargo & Company began coverage on shares of NETSTREIT in a report on Monday, April 7th. They set an "overweight" rating and a $18.00 price target on the stock. Finally, Bank of America upgraded shares of 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 report on Monday, July 28th. Two equities research analysts have rated the stock with a hold rating, seven have given a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Buy" and a consensus price target of $18.83.

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.