Millennium Management LLC Sells 2,063,862 Shares of NETSTREIT Corp. (NYSE:NTST)

Millennium Management LLC reduced its position in shares of NETSTREIT Corp. (NYSE:NTST - Free Report) by 54.0% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,761,411 shares of the company's stock after selling 2,063,862 shares during the period. Millennium Management LLC owned about 2.16% of NETSTREIT worth $24,924,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Vanguard Group Inc. grew its stake in NETSTREIT by 3.0% during the 4th quarter. Vanguard Group Inc. now owns 7,959,793 shares of the company's stock worth $112,631,000 after buying an additional 234,695 shares during the last quarter. T. Rowe Price Investment Management Inc. lifted its holdings in shares of NETSTREIT by 5.5% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 6,834,118 shares of the company's stock valued at $96,703,000 after purchasing an additional 354,973 shares during the last quarter. Cohen & Steers Inc. lifted its holdings in shares of NETSTREIT by 3.0% during the fourth quarter. Cohen & Steers Inc. now owns 6,663,409 shares of the company's stock valued at $94,287,000 after purchasing an additional 191,846 shares during the last quarter. Principal Financial Group Inc. lifted its holdings in shares of NETSTREIT by 46.4% during the fourth quarter. Principal Financial Group Inc. now owns 4,800,208 shares of the company's stock valued at $67,924,000 after purchasing an additional 1,521,668 shares during the last quarter. Finally, Lasalle Investment Management Securities LLC lifted its stake in NETSTREIT by 30.8% in the 4th quarter. Lasalle Investment Management Securities LLC now owns 3,449,229 shares of the company's stock worth $48,807,000 after acquiring an additional 811,632 shares in the last quarter.

NETSTREIT Stock Performance

Shares of NTST traded down $0.11 on Thursday, reaching $15.48. 422,366 shares of the stock traded hands, compared to its average volume of 939,572. The firm has a market cap of $1.26 billion, a price-to-earnings ratio of -257.96 and a beta of 0.90. The company has a debt-to-equity ratio of 0.57, a current ratio of 4.11 and a quick ratio of 4.11. NETSTREIT Corp. has a 12 month low of $13.42 and a 12 month high of $17.75. The stock's 50-day moving average price is $15.68 and its 200-day moving average price is $15.12.

NETSTREIT Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Monday, June 2nd will be paid a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 5.43%. The ex-dividend date is Monday, June 2nd. NETSTREIT's dividend payout ratio is -560.00%.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the company. Wells Fargo & Company began coverage on NETSTREIT in a research note on Monday, April 7th. They issued an "overweight" rating and a $18.00 price objective for the company. Mizuho raised their price objective on NETSTREIT from $15.00 to $17.00 and gave the company an "outperform" rating in a research note on Thursday, April 3rd. Finally, Capital One Financial began coverage on NETSTREIT in a research report on Wednesday, February 12th. They issued an "overweight" rating on the stock. One analyst has rated the stock with a hold rating, six have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Buy" and a consensus target price of $18.03.

Insider Activity at NETSTREIT

In other NETSTREIT news, CEO Mark Manheimer acquired 6,384 shares of NETSTREIT stock in a transaction on Monday, March 10th. The shares were bought at an average price of $15.33 per share, with a total value of $97,866.72. Following the completion of the purchase, the chief executive officer now owns 304,572 shares in the company, valued at $4,669,088.76. This trade represents a 2.14% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders have purchased a total of 12,000 shares of company stock valued at $183,172 in the last 90 days. 0.58% of the stock is owned by corporate insiders.

About NETSTREIT

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.