APG Asset Management US Inc. Sells 259,386 Shares of NETSTREIT Corp. $NTST

Key Points

• APG Asset Management US Inc. reduced its stake in NETSTREIT Corp. by 22.8%, selling 259,386 shares, leaving it with 879,877 shares valued at approximately $13.9 million.
• Despite the sell-off by APG, other institutional investors, including Hsbc Holdings PLC and Quantbot Technologies LP, have recently increased their stakes in NETSTREIT, indicating continued interest in the company.
• NETSTREIT announced an increase in its quarterly dividend to $0.215 per share, reflecting an annualized dividend yield of 4.7%, and the dividend will be paid on September 15th.

APG Asset Management US Inc. cut its stake in shares of NETSTREIT Corp. (NYSE:NTST - Free Report) by 22.8% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 879,877 shares of the company's stock after selling 259,386 shares during the quarter. APG Asset Management US Inc. owned approximately 1.08% of NETSTREIT worth $13,893,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Hsbc Holdings PLC boosted its position in shares of NETSTREIT by 79.8% during the 1st quarter. Hsbc Holdings PLC now owns 136,582 shares of the company's stock worth $2,168,000 after purchasing an additional 60,609 shares in the last quarter. Quantbot Technologies LP increased its holdings in shares of NETSTREIT by 53.3% during the first quarter. Quantbot Technologies LP now owns 154,357 shares of the company's stock valued at $2,447,000 after acquiring an additional 53,658 shares in the last quarter. Northern Trust Corp raised its position in shares of NETSTREIT by 1.5% during the first quarter. Northern Trust Corp now owns 895,119 shares of the company's stock worth $14,188,000 after purchasing an additional 13,431 shares during the period. Versor Investments LP bought a new position in shares of NETSTREIT in the 1st quarter worth $533,000. Finally, American Century Companies Inc. grew its position in NETSTREIT by 4.4% in the 1st quarter. American Century Companies Inc. now owns 25,465 shares of the company's stock valued at $404,000 after purchasing an additional 1,065 shares during the period.

Wall Street Analyst Weigh In

NTST has been the subject of a number of analyst reports. Bank of America upgraded shares of NETSTREIT from an "underperform" rating to a "neutral" rating and lifted their price objective for the company from $18.00 to $19.00 in a report on Monday, July 28th. Raymond James Financial reissued a "strong-buy" rating and issued a $21.00 price objective on shares of NETSTREIT in a research note on Wednesday, July 30th. UBS Group raised their target price on NETSTREIT from $20.00 to $21.00 and gave the company a "buy" rating in a report on Friday, August 15th. Robert W. Baird upped their price target on NETSTREIT from $18.00 to $20.00 and gave the stock an "outperform" rating in a report on Thursday, July 24th. Finally, Truist Financial set a $19.00 price objective on NETSTREIT in a research note on Friday, July 25th. Two investment analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Buy" and a consensus target price of $19.14.

NETSTREIT Stock Performance

Shares of NETSTREIT stock opened at $18.4720 on Friday. The firm has a market capitalization of $1.54 billion, a P/E ratio of -230.90, a price-to-earnings-growth ratio of 4.33 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 business's fifty day simple moving average is $17.75 and its 200 day simple moving average is $16.23. 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 disclosed a quarterly dividend, which will be paid on Monday, September 15th. Stockholders 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 dividend yield of 4.7%. This is an increase from NETSTREIT's previous quarterly dividend of $0.21. The ex-dividend date is Tuesday, September 2nd. NETSTREIT's dividend payout ratio (DPR) is -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.

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