Ballentine Partners LLC Purchases New Shares in NETSTREIT Corp. $NTST

Key Points

• Ballentine Partners LLC acquired a new stake in NETSTREIT Corp. by purchasing 20,468 shares valued at approximately $347,000 during the second quarter.
• NETSTREIT recently declared a quarterly dividend of $0.215 per share, representing a 4.8% annualized yield and an increase from its previous dividend of $0.21.
• Multiple brokerages have raised their price targets for NETSTREIT, with UBS Group increasing it from $20.00 to $21.00 and maintaining a "buy" rating on the stock.

Ballentine Partners LLC purchased a new stake in shares of NETSTREIT Corp. (NYSE:NTST - Free Report) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 20,468 shares of the company's stock, valued at approximately $347,000.

Other hedge funds also recently bought and sold shares of the company. Strs Ohio purchased a new stake in NETSTREIT during the first quarter valued at $8,676,000. Wedge Capital Management L L P NC bought a new position in NETSTREIT during the 1st quarter valued at about $2,389,000. Vanguard Group Inc. grew its holdings in NETSTREIT by 4.0% during the 1st quarter. Vanguard Group Inc. now owns 8,275,681 shares of the company's stock valued at $131,170,000 after purchasing an additional 315,888 shares during the last quarter. Swiss National Bank grew its holdings in NETSTREIT by 3.9% during the 1st quarter. Swiss National Bank now owns 158,100 shares of the company's stock valued at $2,506,000 after purchasing an additional 5,900 shares during the last quarter. Finally, New Age Alpha Advisors LLC grew its holdings in NETSTREIT by 173.5% during the 1st quarter. New Age Alpha Advisors LLC now owns 170,667 shares of the company's stock valued at $2,705,000 after purchasing an additional 108,274 shares during the last quarter.

NETSTREIT Stock Up 0.3%

NYSE:NTST opened at $17.95 on Monday. NETSTREIT Corp. has a fifty-two week low of $13.42 and a fifty-two week high of $19.18. The stock has a market capitalization of $1.50 billion, a P/E ratio of -224.34, a P/E/G ratio of 4.11 and a beta of 0.89. The company has a debt-to-equity ratio of 0.70, a quick ratio of 3.83 and a current ratio of 3.83. The company's 50-day simple moving average is $18.30 and its 200-day simple moving average is $16.87.

NETSTREIT Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Tuesday, September 2nd were paid a dividend of $0.215 per share. This represents a $0.86 dividend on an annualized basis and a yield of 4.8%. The ex-dividend date was Tuesday, September 2nd. This is a positive change from NETSTREIT's previous quarterly dividend of $0.21. NETSTREIT's dividend payout ratio (DPR) is currently -1,075.00%.

Insider Transactions at NETSTREIT

In related news, CEO Mark Manheimer purchased 5,600 shares of the business's stock in a transaction on Friday, September 5th. The shares were acquired at an average price of $17.93 per share, for a total transaction of $100,408.00. Following the purchase, the chief executive officer owned 316,378 shares of the company's stock, valued at $5,672,657.54. This trade represents a 1.80% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.58% of the company's stock.

Analysts Set New Price Targets

Several brokerages recently commented on NTST. UBS Group upped their price target on shares of 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 shares of NETSTREIT from $18.00 to $20.00 and gave the company an "outperform" rating in a report on Thursday, July 24th. Scotiabank reaffirmed an "outperform" rating on shares of NETSTREIT in a research note on Wednesday, August 27th. Wells Fargo & Company lifted their price objective on shares of NETSTREIT from $18.00 to $20.00 and gave the company an "overweight" rating in a report on Wednesday, August 27th. Finally, Truist Financial set a $19.00 price objective on shares of NETSTREIT in a research report on Friday, July 25th. One research 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 data from MarketBeat.com, the company has a consensus rating of "Buy" and an average price target 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.

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