Comerica Bank Boosts Position in NETSTREIT Corp. $NTST

Key Points

• Comerica Bank increased its stake in NETSTREIT Corp. by 288.8% during the first quarter, owning a total of 37,724 shares worth approximately $598,000.
• NETSTREIT announced a quarterly dividend of $0.215 per share, up from the previous $0.21, representing an annual yield of 4.8%.
• Analysts have a positive outlook on NETSTREIT, with a consensus rating of Buy and an average target price of $19.58.

Comerica Bank grew its holdings in shares of NETSTREIT Corp. (NYSE:NTST - Free Report) by 288.8% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 37,724 shares of the company's stock after purchasing an additional 28,021 shares during the quarter. Comerica Bank's holdings in NETSTREIT were worth $598,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in NTST. Assetmark Inc. increased its position in shares of NETSTREIT by 126.3% during the 1st quarter. Assetmark Inc. now owns 2,150 shares of the company's stock valued at $34,000 after purchasing an additional 1,200 shares during the last quarter. CWM LLC increased its position in shares of NETSTREIT by 78.2% during the 1st quarter. CWM LLC now owns 2,253 shares of the company's stock valued at $36,000 after purchasing an additional 989 shares during the last quarter. Lazard Asset Management LLC purchased a new stake in shares of NETSTREIT during the 4th quarter valued at $41,000. GAMMA Investing LLC increased its position in shares of NETSTREIT by 2,779.7% during the 1st quarter. GAMMA Investing LLC now owns 7,228 shares of the company's stock valued at $115,000 after purchasing an additional 6,977 shares during the last quarter. Finally, Heritage Family Offices LLP purchased a new stake in shares of NETSTREIT during the 1st quarter valued at $168,000.

NETSTREIT Price Performance

NTST stock traded down $0.07 during mid-day trading on Friday, reaching $18.19. 50,998 shares of the company traded hands, compared to its average volume of 1,023,354. The company has a debt-to-equity ratio of 0.70, a current ratio of 3.83 and a quick ratio of 3.83. The company has a market capitalization of $1.52 billion, a P/E ratio of -227.06, a P/E/G ratio of 4.19 and a beta of 0.89. NETSTREIT Corp. has a 52-week low of $13.42 and a 52-week high of $19.18. The company has a fifty day moving average price of $18.13 and a 200-day moving average price of $16.61.

NETSTREIT Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Tuesday, September 2nd will be issued a dividend of $0.215 per share. This represents a $0.86 dividend on an annualized basis and a yield of 4.7%. The ex-dividend date of this dividend is Tuesday, September 2nd. This is a boost from NETSTREIT's previous quarterly dividend of $0.21. NETSTREIT's payout ratio is presently -1,075.00%.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on NTST shares. Truist Financial set a $19.00 target price on NETSTREIT in a research report on Friday, July 25th. UBS Group lifted their price objective on NETSTREIT from $20.00 to $21.00 and gave the stock a "buy" rating in a report on Friday, August 15th. Scotiabank reissued an "outperform" rating on shares of NETSTREIT in a report on Wednesday, August 27th. Wells Fargo & Company lifted their price objective on NETSTREIT from $18.00 to $20.00 and gave the stock an "overweight" rating in a report on Wednesday, August 27th. Finally, Mizuho lifted their price objective on NETSTREIT from $17.00 to $20.00 and gave the stock an "outperform" rating in a report on Thursday. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, the company has a consensus rating of "Buy" and an average price target of $19.92.

Insiders Place Their Bets

In related news, CEO Mark Manheimer bought 5,600 shares of NETSTREIT stock in a transaction on Friday, September 5th. The stock was acquired at an average price of $17.93 per share, with a total value of $100,408.00. Following the acquisition, the chief executive officer directly owned 316,378 shares of the company's stock, valued at $5,672,657.54. This represents a 1.80% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.58% of the stock is owned by insiders.

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.