NETSTREIT Corp. $NTST Shares Bought by Invesco Ltd.

Key Points

• Invesco Ltd. increased its stake in NETSTREIT Corp. by 11.8% in the first quarter, now holding approximately $4.39 million worth of shares.
• NETSTREIT has declared a quarterly dividend of $0.215, an increase from the previous dividend, with a current annualized yield of 4.7%.
• Analysts remain positive, with multiple firms raising their target prices for NETSTREIT shares, indicating a consensus "Buy" rating and an average target price of $19.58.

Invesco Ltd. raised its position in shares of NETSTREIT Corp. (NYSE:NTST - Free Report) by 11.8% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 276,723 shares of the company's stock after purchasing an additional 29,248 shares during the period. Invesco Ltd. owned approximately 0.34% of NETSTREIT worth $4,386,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in NTST. Wedge Capital Management L L P NC bought a new position in shares of NETSTREIT during the first quarter valued at about $2,389,000. Freestone Grove Partners LP bought a new position in shares of NETSTREIT during the fourth quarter valued at about $363,000. Vanguard Group Inc. grew its stake in shares of NETSTREIT by 4.0% during the first quarter. Vanguard Group Inc. now owns 8,275,681 shares of the company's stock valued at $131,170,000 after buying an additional 315,888 shares during the last quarter. Raymond James Financial Inc. bought a new position in shares of NETSTREIT during the fourth quarter valued at about $927,000. Finally, DigitalBridge Group Inc. grew its stake in shares of NETSTREIT by 1,175.4% during the fourth quarter. DigitalBridge Group Inc. now owns 953,968 shares of the company's stock valued at $13,499,000 after buying an additional 879,168 shares during the last quarter.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the company. Wells Fargo & Company lifted their price objective on NETSTREIT from $18.00 to $20.00 and gave the company an "overweight" rating in a research report on Wednesday, August 27th. Bank of America upgraded shares of NETSTREIT from an "underperform" rating to a "neutral" rating and lifted their target price for the company from $18.00 to $19.00 in a report on Monday, July 28th. Scotiabank restated an "outperform" rating on shares of NETSTREIT in a report on Wednesday, August 27th. 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, Robert W. Baird lifted their target price on shares of NETSTREIT from $18.00 to $20.00 and gave the stock an "outperform" rating in a research report on Thursday, July 24th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Buy" and an average price target of $19.58.

NETSTREIT Trading Down 0.4%

Shares of NYSE:NTST traded down $0.07 during trading on Wednesday, reaching $17.74. 43,103 shares of the company were exchanged, compared to its average volume of 1,019,271. The firm has a market capitalization of $1.48 billion, a PE ratio of -221.56, a P/E/G ratio of 4.20 and a beta of 0.89. The business's fifty day simple moving average is $17.97 and its 200-day simple moving average is $16.44. NETSTREIT Corp. has a 12-month low of $13.42 and a 12-month high of $19.18. The company has a debt-to-equity ratio of 0.70, a current ratio of 3.83 and a quick ratio of 3.83.

NETSTREIT Increases Dividend

The firm also recently disclosed 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 is a boost from NETSTREIT's previous quarterly dividend of $0.21. This represents a $0.86 dividend on an annualized basis and a dividend yield of 4.8%. The ex-dividend date is Tuesday, September 2nd. NETSTREIT's payout ratio is -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.