Carmel Capital Partners LLC Sells 14,203 Shares of NETSTREIT Corp. $NTST

Key Points

• Carmel Capital Partners LLC reduced its stake in NETSTREIT Corp. by 54.5%, selling 14,203 shares and ending the quarter with 11,847 shares worth approximately $201,000.
• Several hedge funds increased their investments in NETSTREIT, with Principal Financial Group raising its holdings by 61.3% and MetLife Investment Management increasing by 1,992.5%.
• NETSTREIT recently raised its quarterly dividend to $0.215 per share, yielding 4.5%, marking a slight increase from the previous dividend of $0.21.

Carmel Capital Partners LLC trimmed its stake in NETSTREIT Corp. (NYSE:NTST - Free Report) by 54.5% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 11,847 shares of the company's stock after selling 14,203 shares during the quarter. Carmel Capital Partners LLC's holdings in NETSTREIT were worth $201,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in NTST. Principal Financial Group Inc. boosted its holdings in NETSTREIT by 61.3% in the first quarter. Principal Financial Group Inc. now owns 7,741,808 shares of the company's stock worth $122,708,000 after acquiring an additional 2,941,600 shares in the last quarter. Nuveen LLC bought a new stake in NETSTREIT in the first quarter worth $18,181,000. MetLife Investment Management LLC boosted its holdings in NETSTREIT by 1,992.5% in the first quarter. MetLife Investment Management LLC now owns 1,023,171 shares of the company's stock worth $16,217,000 after acquiring an additional 974,275 shares in the last quarter. Adage Capital Partners GP L.L.C. bought a new stake in NETSTREIT in the first quarter worth $9,397,000. Finally, Strs Ohio bought a new stake in NETSTREIT in the first quarter worth $8,676,000.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on NTST shares. Mizuho boosted their target price on NETSTREIT from $17.00 to $20.00 and gave the stock an "outperform" rating in a report on Thursday, September 11th. Weiss Ratings reaffirmed a "hold (c-)" rating on shares of NETSTREIT in a report on Wednesday, October 8th. Robert W. Baird upped their price target on NETSTREIT from $18.00 to $20.00 and gave the company an "outperform" rating in a report on Thursday, July 24th. Truist Financial set a $19.00 price target on NETSTREIT in a report on Friday, July 25th. Finally, Wells Fargo & Company upped their price target on NETSTREIT from $18.00 to $20.00 and gave the company an "overweight" rating in a report on Wednesday, August 27th. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $20.20.

NETSTREIT Stock Up 0.1%

NETSTREIT stock opened at $19.04 on Friday. The stock has a market cap of $1.59 billion, a PE ratio of -238.00, a price-to-earnings-growth ratio of 3.08 and a beta of 0.90. The company has a debt-to-equity ratio of 0.70, a quick ratio of 3.83 and a current ratio of 3.83. NETSTREIT Corp. has a one year low of $13.42 and a one year high of $19.21. The stock has a fifty day moving average of $18.35 and a 200 day moving average of $17.18.

NETSTREIT Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Tuesday, September 2nd were given a dividend of $0.215 per share. This represents a $0.86 dividend on an annualized basis and a yield of 4.5%. This is a boost from NETSTREIT's previous quarterly dividend of $0.21. The ex-dividend date was Tuesday, September 2nd. NETSTREIT's dividend payout ratio (DPR) is currently -1,075.00%.

Insider Buying and Selling

In other news, CEO Mark Manheimer acquired 5,600 shares of NETSTREIT stock in a transaction that occurred on Friday, September 5th. The stock was bought at an average price of $17.93 per share, for a total transaction of $100,408.00. Following the completion of the transaction, the chief executive officer owned 316,378 shares in the company, valued at $5,672,657.54. The trade was a 1.80% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.58% of the company's stock.

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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