NETSTREIT Corp. (NYSE:NTST) Stake Lessened by Millennium Management LLC

Millennium Management LLC decreased its holdings in shares of NETSTREIT Corp. (NYSE:NTST - Free Report) by 54.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,761,411 shares of the company's stock after selling 2,063,862 shares during the quarter. Millennium Management LLC owned about 2.16% of NETSTREIT worth $24,924,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Lazard Asset Management LLC bought a new position in shares of NETSTREIT in the fourth quarter worth about $41,000. PNC Financial Services Group Inc. increased its holdings in NETSTREIT by 861.1% in the 4th quarter. PNC Financial Services Group Inc. now owns 5,430 shares of the company's stock worth $77,000 after buying an additional 4,865 shares during the period. Comerica Bank grew its stake in NETSTREIT by 174.3% in the 4th 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 period. Prudent Man Advisors LLC purchased a new position in NETSTREIT in the 4th quarter valued at $143,000. Finally, Mariner LLC purchased a new position in NETSTREIT in the 4th quarter valued at $143,000.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. Capital One Financial assumed coverage on NETSTREIT in a research report on Wednesday, February 12th. They issued an "overweight" rating for the company. Raymond James boosted their target price on NETSTREIT from $17.00 to $18.00 and gave the stock a "strong-buy" rating in a research note on Friday. Wells Fargo & Company assumed 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. Finally, Mizuho upped their price target on NETSTREIT from $15.00 to $17.00 and gave the stock an "outperform" rating in a research note on Thursday, April 3rd. One research analyst has rated the stock with a hold rating, six have assigned a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Buy" and an average target price of $18.16.

NETSTREIT Stock Up 1.0%

Shares of NTST stock traded up $0.15 during trading hours on Friday, reaching $15.63. The company had a trading volume of 446,393 shares, compared to its average volume of 941,476. The company has a debt-to-equity ratio of 0.57, a quick ratio of 4.11 and a current ratio of 4.11. NETSTREIT Corp. has a twelve month low of $13.42 and a twelve month high of $17.53. The company has a market capitalization of $1.28 billion, a P/E ratio of -260.51 and a beta of 0.90. The stock's fifty day simple moving average is $15.69 and its 200 day simple moving average is $15.11.

NETSTREIT Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Monday, June 2nd will be paid a dividend of $0.21 per share. The ex-dividend date is Monday, June 2nd. This represents a $0.84 dividend on an annualized basis and a yield of 5.37%. NETSTREIT's dividend payout ratio (DPR) is presently -560.00%.

Insider Buying and Selling at NETSTREIT

In related news, CEO Mark Manheimer acquired 3,616 shares of the stock in a transaction that occurred on Friday, March 7th. The stock was purchased at an average cost of $15.22 per share, for a total transaction of $55,035.52. Following the purchase, the chief executive officer now directly owns 295,252 shares in the company, valued at $4,493,735.44. This represents a 1.24% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Insiders acquired a total of 12,000 shares of company stock worth $183,172 in the last 90 days. 0.58% of the stock is owned by corporate insiders.

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.