Centersquare Investment Management LLC Raises Position in NETSTREIT Corp. (NYSE:NTST)

Key Points

• Centersquare Investment Management LLC increased its holdings in NETSTREIT Corp. by 23.8%, acquiring an additional 459,487 shares during the first quarter, bringing its total to 2,388,977 shares valued at approximately $37.9 million.
• Recent analyst reports show a positive outlook for NETSTREIT, with multiple firms raising their price targets, including Bank of America and UBS, indicating a shift from an "underperform" to a "neutral" rating.
• NETSTREIT announced a quarterly dividend increase, raising it to $0.215 per share, which reflects an annual yield of 4.6%, a boost from its previous dividend of $0.21.

Centersquare Investment Management LLC lifted its position in NETSTREIT Corp. (NYSE:NTST - Free Report) by 23.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 2,388,977 shares of the company's stock after buying an additional 459,487 shares during the quarter. Centersquare Investment Management LLC owned approximately 2.92% of NETSTREIT worth $37,865,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. grew its stake in shares of NETSTREIT by 3.0% during the fourth quarter. Vanguard Group Inc. now owns 7,959,793 shares of the company's stock worth $112,631,000 after purchasing an additional 234,695 shares in the last quarter. Principal Financial Group Inc. lifted its holdings in NETSTREIT by 61.3% during the 1st quarter. Principal Financial Group Inc. now owns 7,741,808 shares of the company's stock worth $122,708,000 after buying an additional 2,941,600 shares during the last quarter. T. Rowe Price Investment Management Inc. lifted its holdings in NETSTREIT by 5.5% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 6,834,118 shares of the company's stock worth $96,703,000 after buying an additional 354,973 shares during the last quarter. Cohen & Steers Inc. boosted its position in shares of NETSTREIT by 3.0% during the 4th quarter. Cohen & Steers Inc. now owns 6,663,409 shares of the company's stock worth $94,287,000 after acquiring an additional 191,846 shares in the last quarter. Finally, Lasalle Investment Management Securities LLC increased its holdings in shares of NETSTREIT by 30.8% in the 4th quarter. Lasalle Investment Management Securities LLC now owns 3,449,229 shares of the company's stock valued at $48,807,000 after acquiring an additional 811,632 shares during the last quarter.

NETSTREIT Stock Performance

NTST stock traded down $0.02 on Friday, hitting $18.55. The company's stock had a trading volume of 1,020,137 shares, compared to its average volume of 1,028,410. The stock has a market cap of $1.55 billion, a price-to-earnings ratio of -231.81, a price-to-earnings-growth ratio of 4.27 and a beta of 0.89. The firm has a 50 day moving average of $17.21 and a two-hundred day moving average of $15.91. The company has a current ratio of 3.83, a quick ratio of 3.83 and a debt-to-equity ratio of 0.70. NETSTREIT Corp. has a 1 year low of $13.42 and a 1 year high of $18.95.

NETSTREIT Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Tuesday, September 2nd will be paid a dividend of $0.215 per share. This represents a $0.86 annualized dividend and a dividend yield of 4.6%. This is a positive change from NETSTREIT's previous quarterly dividend of $0.21. The ex-dividend date is Tuesday, September 2nd. NETSTREIT's payout ratio is currently -1,050.00%.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on NTST. Truist Financial set a $19.00 target price on NETSTREIT in a research report on Friday, July 25th. Robert W. Baird raised their price objective on shares of NETSTREIT from $18.00 to $20.00 and gave the stock an "outperform" rating in a report on Thursday, July 24th. Bank of America upgraded shares of NETSTREIT from an "underperform" rating to a "neutral" rating and boosted their price objective for the stock from $18.00 to $19.00 in a research report on Monday, July 28th. 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. Finally, UBS Group lifted their price target on shares of NETSTREIT from $18.00 to $20.00 and gave the stock a "buy" rating in a research note on Wednesday, July 16th. Two investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Buy" and an average 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.