MetLife Investment Management LLC Has $16.22 Million Stock Position in NETSTREIT Corp. $NTST

Key Points

• MetLife Investment Management LLC has dramatically increased its stake in NETSTREIT Corp. by 1,992.5%, acquiring a total of 1,023,171 shares worth approximately $16.2 million.
• NETSTREIT announced a quarterly dividend of $0.215 per share, reflecting a slight increase from the previous dividend, with a current annualized dividend yield of 4.7%.
• Analysts remain positive on NETSTREIT with a consensus rating of "Buy" and target price estimates ranging from $19.00 to $21.00 from multiple research firms.

MetLife Investment Management LLC grew its position in NETSTREIT Corp. (NYSE:NTST - Free Report) by 1,992.5% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,023,171 shares of the company's stock after acquiring an additional 974,275 shares during the period. MetLife Investment Management LLC owned 1.25% of NETSTREIT worth $16,217,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of NTST. Assetmark Inc. raised its stake in shares of NETSTREIT by 126.3% in the first quarter. Assetmark Inc. now owns 2,150 shares of the company's stock valued at $34,000 after acquiring an additional 1,200 shares during the last quarter. CWM LLC raised its stake in shares of NETSTREIT by 78.2% in the first quarter. CWM LLC now owns 2,253 shares of the company's stock valued at $36,000 after acquiring an additional 989 shares during the last quarter. Lazard Asset Management LLC bought a new position in shares of NETSTREIT in the fourth quarter valued at approximately $41,000. GAMMA Investing LLC raised its stake in shares of NETSTREIT by 2,779.7% in the first quarter. GAMMA Investing LLC now owns 7,228 shares of the company's stock valued at $115,000 after acquiring an additional 6,977 shares during the last quarter. Finally, Comerica Bank raised its stake in shares of NETSTREIT by 174.3% in the fourth quarter. Comerica Bank now owns 9,703 shares of the company's stock valued at $137,000 after acquiring an additional 6,166 shares during the last quarter.

NETSTREIT Trading Down 0.5%

NTST traded down $0.10 during trading on Wednesday, reaching $18.33. 1,380,088 shares of the company's stock were exchanged, compared to its average volume of 1,134,715. The company's fifty day moving average price is $17.86 and its 200-day moving average price is $16.31. 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 fifty-two week low of $13.42 and a fifty-two week high of $19.18. The firm has a market capitalization of $1.53 billion, a PE ratio of -229.18, a P/E/G ratio of 4.23 and a beta of 0.89.

NETSTREIT Increases Dividend

The firm 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. The ex-dividend date of this dividend is Tuesday, September 2nd. This represents a $0.86 dividend on an annualized basis and a yield of 4.7%. This is a boost from NETSTREIT's previous quarterly dividend of $0.21. NETSTREIT's dividend payout ratio (DPR) is presently -1,050.00%.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on NTST. Scotiabank restated an "outperform" rating on shares of NETSTREIT in a research report on Wednesday. Bank of America upgraded shares of NETSTREIT from an "underperform" rating to a "neutral" rating and boosted their price objective for the stock from $18.00 to $19.00 in a research report on Monday, July 28th. Truist Financial set a $19.00 price objective on shares of NETSTREIT in a research report on Friday, July 25th. Robert W. Baird boosted their price objective 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. Finally, UBS Group boosted their price objective on shares of NETSTREIT from $20.00 to $21.00 and gave the stock a "buy" rating in a research report on Friday, August 15th. 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.com, NETSTREIT presently has a consensus rating of "Buy" and an average price target of $19.58.

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.