Cbre Investment Management Listed Real Assets LLC Decreases Stock Holdings in NETSTREIT Corp. $NTST

Key Points

• Cbre Investment Management Listed Real Assets LLC reduced its stake in NETSTREIT Corp. by 2.2%, selling 14,703 shares, and now owns approximately 0.80% of the company.
• NETSTREIT has recently announced an increased quarterly dividend of $0.215, which will be paid on September 15th, reflecting a 4.7% annualized yield.
• Several analysts have set a target price for NETSTREIT's shares, with Raymond James giving a "strong-buy" rating and a target price of $21.00.

Cbre Investment Management Listed Real Assets LLC cut its holdings in NETSTREIT Corp. (NYSE:NTST - Free Report) by 2.2% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 654,882 shares of the company's stock after selling 14,703 shares during the period. Cbre Investment Management Listed Real Assets LLC owned 0.80% of NETSTREIT worth $10,380,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Wedge Capital Management L L P NC purchased a new stake in shares of NETSTREIT during the 1st quarter worth approximately $2,389,000. LPL Financial LLC purchased a new stake in shares of NETSTREIT during the 4th quarter worth approximately $236,000. Freestone Grove Partners LP purchased a new stake in shares of NETSTREIT during the 4th quarter worth approximately $363,000. Raymond James Financial Inc. bought a new position in shares of NETSTREIT during the 4th quarter valued at approximately $927,000. Finally, DigitalBridge Group Inc. increased its position in shares of NETSTREIT by 1,175.4% during the 4th quarter. DigitalBridge Group Inc. now owns 953,968 shares of the company's stock valued at $13,499,000 after purchasing an additional 879,168 shares during the last quarter.

NETSTREIT Stock Down 0.5%

Shares of NTST traded down $0.10 during midday trading on Wednesday, reaching $18.33. 1,380,088 shares of the stock were exchanged, compared to its average volume of 1,025,721. NETSTREIT Corp. has a 52 week low of $13.42 and a 52 week high of $19.18. 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 company's 50 day moving average is $17.83 and its two-hundred day moving average is $16.29. The company has a market capitalization of $1.53 billion, a P/E ratio of -229.18, a PEG ratio of 4.24 and a beta of 0.89.

NETSTREIT Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Tuesday, September 2nd will be paid a dividend of $0.215 per share. This is an increase from NETSTREIT's previous quarterly dividend of $0.21. The ex-dividend date is Tuesday, September 2nd. This represents a $0.86 dividend on an annualized basis and a dividend yield of 4.7%. NETSTREIT's dividend payout ratio (DPR) is currently -1,050.00%.

Analyst Upgrades and Downgrades

NTST has been the topic of several analyst reports. Wells Fargo & Company boosted their target price on NETSTREIT from $18.00 to $20.00 and gave the company an "overweight" rating in a research report on Wednesday. Bank of America raised NETSTREIT from an "underperform" rating to a "neutral" rating and boosted their target price for the company from $18.00 to $19.00 in a research report on Monday, July 28th. Scotiabank reissued an "outperform" rating on shares of NETSTREIT in a research report on Wednesday. Raymond James Financial reissued a "strong-buy" rating and set a $21.00 target price on shares of NETSTREIT in a research report on Wednesday, July 30th. Finally, UBS Group upped their price objective on NETSTREIT from $20.00 to $21.00 and gave the company a "buy" rating in a research report on Friday, August 15th. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of "Buy" and an average target price of $19.58.

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.