Goldman Sachs Group Inc. Increases Holdings in NETSTREIT Corp. $NTST

Key Points

• Goldman Sachs increased its stock holdings in NETSTREIT Corp. by 3.6% in Q1, now owning 499,346 shares valued at $7.9 million.
• NETSTREIT announced a quarterly dividend increase to $0.215 per share, with a dividend yield of 4.7% and a record date of September 2nd.
• Analyst ratings for NETSTREIT are positive, with one strong buy and eight buy ratings, showing confidence in the company's future performance.

Goldman Sachs Group Inc. grew its holdings in shares of NETSTREIT Corp. (NYSE:NTST - Free Report) by 3.6% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 499,346 shares of the company's stock after purchasing an additional 17,188 shares during the period. Goldman Sachs Group Inc. owned approximately 0.61% of NETSTREIT worth $7,915,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Strs Ohio bought a new position in NETSTREIT during the first quarter valued at approximately $8,676,000. Wedge Capital Management L L P NC bought a new position in shares of NETSTREIT during the first quarter valued at $2,389,000. Vanguard Group Inc. lifted its position in NETSTREIT by 4.0% during the 1st quarter. Vanguard Group Inc. now owns 8,275,681 shares of the company's stock worth $131,170,000 after buying an additional 315,888 shares in the last quarter. DigitalBridge Group Inc. raised its holdings in NETSTREIT by 1,175.4% during the 4th quarter. DigitalBridge Group Inc. now owns 953,968 shares of the company's stock worth $13,499,000 after purchasing an additional 879,168 shares during the last quarter. Finally, New Age Alpha Advisors LLC increased its stake in shares of NETSTREIT by 173.5% in the 1st quarter. New Age Alpha Advisors LLC now owns 170,667 shares of the company's stock valued at $2,705,000 after acquiring an additional 108,274 shares during the last quarter.

Wall Street Analysts Forecast Growth

NTST has been the topic of several research analyst reports. Robert W. Baird raised their target price on shares of NETSTREIT from $18.00 to $20.00 and gave the stock an "outperform" rating in a report on Thursday, July 24th. Raymond James Financial restated a "strong-buy" rating and issued a $21.00 price target on shares of NETSTREIT in a research report on Wednesday, July 30th. Bank of America upgraded NETSTREIT from an "underperform" rating to a "neutral" rating and boosted their price target for the stock from $18.00 to $19.00 in a report on Monday, July 28th. Scotiabank reissued an "outperform" rating on shares of NETSTREIT in a research note on Wednesday, August 27th. Finally, Truist Financial set a $19.00 target price on NETSTREIT in a research report on Friday, July 25th. 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, NETSTREIT presently has a consensus rating of "Buy" and a consensus price target of $19.92.

NETSTREIT Price Performance

Shares of NETSTREIT stock traded down $0.12 during trading on Friday, hitting $18.24. 381,494 shares of the stock traded hands, compared to its average volume of 1,028,050. The firm's fifty day moving average is $18.26 and its 200-day moving average is $16.73. 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 52 week low of $13.42 and a 52 week high of $19.18. The stock has a market cap of $1.52 billion, a price-to-earnings ratio of -227.94, a PEG ratio of 4.21 and a beta of 0.89.

NETSTREIT Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Tuesday, September 2nd were given a $0.215 dividend. The ex-dividend date was Tuesday, September 2nd. This represents a $0.86 dividend on an annualized basis and a dividend yield of 4.7%. This is an increase from NETSTREIT's previous quarterly dividend of $0.21. NETSTREIT's dividend payout ratio is -1,075.00%.

Insider Buying and Selling at NETSTREIT

In other NETSTREIT news, CEO Mark Manheimer acquired 5,600 shares of the business's stock in a transaction dated Friday, September 5th. The shares were purchased at an average cost of $17.93 per share, for a total transaction of $100,408.00. Following the transaction, the chief executive officer owned 316,378 shares in the company, 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 at the SEC website. Corporate insiders own 0.58% of the company's stock.

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.