Davis Selected Advisers Invests $1.82 Million in NETSTREIT Corp. (NYSE:NTST)

Key Points

• Davis Selected Advisers has acquired a new stake in NETSTREIT Corp., purchasing 114,960 shares valued at approximately $1.82 million, representing 0.14% ownership.
• Multiple institutional investors, including Assetmark Inc. and GAMMA Investing LLC, have notably increased their stakes in NETSTREIT, reflecting a growing confidence in the company's performance.
• NETSTREIT recently raised its quarterly dividend to $0.215, yielding 4.6%, marking a positive update from its previous dividend of $0.21, with an upcoming payment scheduled for September 15th.

Davis Selected Advisers purchased a new stake in NETSTREIT Corp. (NYSE:NTST - Free Report) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 114,960 shares of the company's stock, valued at approximately $1,822,000. Davis Selected Advisers owned 0.14% of NETSTREIT at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in NTST. Cohen & Steers Inc. lifted its stake in NETSTREIT by 3.0% during the fourth quarter. Cohen & Steers Inc. now owns 6,663,409 shares of the company's stock worth $94,287,000 after purchasing an additional 191,846 shares during the last quarter. Wedge Capital Management L L P NC acquired a new position in shares of NETSTREIT during the first quarter worth $2,389,000. LPL Financial LLC acquired a new stake in NETSTREIT in the fourth quarter valued at $236,000. Freestone Grove Partners LP acquired a new stake in NETSTREIT in the fourth quarter valued at $363,000. Finally, Raymond James Financial Inc. acquired a new stake in NETSTREIT in the fourth quarter valued at $927,000.

Analyst Ratings Changes

NTST has been the subject of a number of recent analyst reports. Raymond James Financial reiterated a "strong-buy" rating and set a $21.00 price target on shares of NETSTREIT in a report on Wednesday, July 30th. Robert W. Baird raised their price target on shares of NETSTREIT from $18.00 to $20.00 and gave the company an "outperform" rating in a research report on Thursday, July 24th. UBS Group raised their price target on shares of NETSTREIT from $18.00 to $20.00 and gave the company a "buy" rating in a research report on Wednesday, July 16th. Bank of America upgraded shares of NETSTREIT from an "underperform" rating to a "neutral" rating and increased their price objective for the company from $18.00 to $19.00 in a research note on Monday, July 28th. Finally, Truist Financial set a $19.00 price objective on shares of NETSTREIT in a research note on Friday, July 25th. Two research analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Buy" and a consensus price target of $18.83.

NETSTREIT Stock Performance

NTST stock traded up $0.17 during midday trading on Tuesday, reaching $18.74. 437,114 shares of the company's stock traded hands, compared to its average volume of 1,022,683. The company has a 50-day moving average price of $17.31 and a two-hundred day moving average price of $15.99. 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 52 week low of $13.42 and a 52 week high of $18.95. The firm has a market capitalization of $1.56 billion, a PE ratio of -234.19, a price-to-earnings-growth ratio of 4.26 and a beta of 0.89.

NETSTREIT Increases Dividend

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

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.