Deutsche Bank AG Trims Position in NETSTREIT Corp. $NTST

Key Points

• Deutsche Bank AG significantly reduced its stake in NETSTREIT Corp. by 96.7%, now holding only 95,021 shares worth $1.5 million after selling over 2.7 million shares.
• Several institutional investors, including Assetmark Inc. and CWM LLC, have increased their positions in NETSTREIT, with growth rates of up to 2,779.7%.
• NETSTREIT announced a new quarterly dividend of $0.215 per share, up from the previous $0.21, and will be paid to stockholders of record on September 2nd.

Deutsche Bank AG decreased its holdings in shares of NETSTREIT Corp. (NYSE:NTST - Free Report) by 96.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 95,021 shares of the company's stock after selling 2,750,432 shares during the quarter. Deutsche Bank AG owned about 0.12% of NETSTREIT worth $1,506,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Wall Street Analyst Weigh In

Several brokerages have recently commented on NTST. Wells Fargo & Company boosted their price objective on NETSTREIT from $18.00 to $20.00 and gave the stock an "overweight" rating in a report on Wednesday. Robert W. Baird raised their price target on NETSTREIT from $18.00 to $20.00 and gave the company an "outperform" rating in a research report on Thursday, July 24th. Raymond James Financial reiterated a "strong-buy" rating and issued a $21.00 price objective on shares of NETSTREIT in a report on Wednesday, July 30th. UBS Group boosted their target price on NETSTREIT from $20.00 to $21.00 and gave the stock a "buy" rating in a research report on Friday, August 15th. Finally, Scotiabank restated an "outperform" rating on shares of NETSTREIT in a report on Wednesday. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average target price of $19.58.

NETSTREIT Trading Down 0.1%

Shares of NYSE:NTST traded down $0.03 on Wednesday, hitting $18.41. The company had a trading volume of 585,635 shares, compared to its average volume of 1,020,487. The firm's 50-day simple moving average is $17.83 and its two-hundred day simple moving average is $16.29. The firm has a market capitalization of $1.54 billion, a price-to-earnings ratio of -230.06, a P/E/G ratio of 4.24 and a beta of 0.89. The company has a quick ratio of 3.83, a current 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 $19.18.

NETSTREIT Increases Dividend

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

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.