Allianz Asset Management GmbH Acquires Shares of 45,271 NETSTREIT Corp. (NYSE:NTST)

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 bought a new stake in shares of NETSTREIT Corp. (NYSE:NTST - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 45,271 shares of the company's stock, valued at approximately $718,000. Allianz Asset Management GmbH owned 0.06% of NETSTREIT at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in NTST. Hohimer Wealth Management LLC increased its stake in NETSTREIT by 6.2% in the 1st quarter. Hohimer Wealth Management LLC now owns 11,538 shares of the company's stock worth $183,000 after buying an additional 677 shares during the period. CWM LLC increased its stake in NETSTREIT by 78.2% in the first quarter. CWM LLC now owns 2,253 shares of the company's stock valued at $36,000 after purchasing an additional 989 shares during the last quarter. New York State Common Retirement Fund boosted its holdings in shares of NETSTREIT by 0.7% in the first quarter. New York State Common Retirement Fund now owns 232,621 shares of the company's stock valued at $3,687,000 after acquiring an additional 1,724 shares during the period. Arizona State Retirement System increased its position in shares of NETSTREIT by 4.2% in the first quarter. Arizona State Retirement System now owns 23,401 shares of the company's stock valued at $371,000 after buying an additional 945 shares in the last quarter. Finally, Envestnet Asset Management Inc. raised its stake in NETSTREIT by 12.5% in the 1st quarter. Envestnet Asset Management Inc. now owns 173,642 shares of the company's stock valued at $2,752,000 after purchasing an additional 19,234 shares during the last quarter.

NETSTREIT Trading Down 0.1%

Shares of NYSE:NTST traded down $0.02 during midday trading on Wednesday, hitting $18.58. 431,599 shares of the stock traded hands, compared to its average volume of 1,018,291. The company has a quick ratio of 3.83, a current ratio of 3.83 and a debt-to-equity ratio of 0.70. NETSTREIT Corp. has a one year low of $13.42 and a one year high of $18.93. The business's 50 day moving average is $17.10 and its two-hundred day moving average is $15.86. The stock has a market capitalization of $1.55 billion, a PE ratio of -232.31, a P/E/G ratio of 4.31 and a beta of 0.89.

NETSTREIT Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Tuesday, September 2nd will be given a $0.215 dividend. This is a boost from NETSTREIT's previous quarterly dividend of $0.21. The ex-dividend date of this dividend is Tuesday, September 2nd. This represents a $0.86 dividend on an annualized basis and a yield of 4.6%. NETSTREIT's payout ratio is presently -1,050.00%.

Analysts Set New Price Targets

A number of equities analysts have issued reports on NTST shares. Raymond James Financial reaffirmed a "strong-buy" rating and issued a $21.00 target price on shares of NETSTREIT in a research report on Wednesday, July 30th. Robert W. Baird increased their price target on NETSTREIT from $18.00 to $20.00 and gave the company an "outperform" rating in a research report on Thursday, July 24th. UBS Group increased their price objective on NETSTREIT from $18.00 to $20.00 and gave the stock a "buy" rating in a research note on Wednesday, July 16th. Truist Financial set a $19.00 target price on NETSTREIT in a research report on Friday, July 25th. Finally, Bank of America raised NETSTREIT from an "underperform" rating to a "neutral" rating and raised their target price for the company from $18.00 to $19.00 in a report on Monday, July 28th. Two research analysts have rated the stock with a hold rating, seven have given a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus price target of $18.83.

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.