NETSTREIT Corp. $NTST Shares Sold by Tributary Capital Management LLC

Key Points

• Tributary Capital Management LLC reduced its holdings in NETSTREIT Corp. by 7%, after selling 61,115 shares, bringing its ownership to about 0.97% valued at $13.7 million.
• Several hedge funds have increased their positions in NETSTREIT, with Assetmark Inc. achieving a 126.3% increase in the first quarter, acquiring an additional 1,200 shares.
• Brokerages have set new price targets for NETSTREIT, with a consensus target price of $20.20, reflecting a generally optimistic outlook for the stock.

Tributary Capital Management LLC lowered its position in shares of NETSTREIT Corp. (NYSE:NTST - Free Report) by 7.0% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 810,113 shares of the company's stock after selling 61,115 shares during the period. Tributary Capital Management LLC owned about 0.97% of NETSTREIT worth $13,715,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Assetmark Inc. increased its position in shares of NETSTREIT by 126.3% during the first quarter. Assetmark Inc. now owns 2,150 shares of the company's stock worth $34,000 after purchasing an additional 1,200 shares in the last quarter. CWM LLC increased its position in NETSTREIT by 78.2% in the 1st 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 period. State of Wyoming acquired a new position in NETSTREIT in the 1st quarter valued at about $58,000. Hohimer Wealth Management LLC increased its position in NETSTREIT by 6.2% in the 1st quarter. Hohimer Wealth Management LLC now owns 11,538 shares of the company's stock valued at $183,000 after acquiring an additional 677 shares during the period. Finally, Teacher Retirement System of Texas acquired a new position in NETSTREIT in the 1st quarter valued at about $188,000.

NETSTREIT Price Performance

NTST stock opened at $19.30 on Thursday. NETSTREIT Corp. has a 1 year low of $13.42 and a 1 year high of $19.62. The company has a debt-to-equity ratio of 0.70, a quick ratio of 3.83 and a current ratio of 3.83. The stock's 50 day moving average price is $18.38 and its 200 day moving average price is $17.25. The firm has a market cap of $1.61 billion, a P/E ratio of -241.19, a PEG ratio of 3.10 and a beta of 0.90.

Analysts Set New Price Targets

A number of brokerages have weighed in on NTST. Berenberg Bank began coverage on NETSTREIT in a report on Monday, October 13th. They issued a "buy" rating and a $22.00 price objective on the stock. Bank of America raised NETSTREIT from an "underperform" rating to a "neutral" rating and lifted their price objective for the company from $18.00 to $19.00 in a report on Monday, July 28th. Scotiabank reaffirmed an "outperform" rating on shares of NETSTREIT in a report on Wednesday, August 27th. Wells Fargo & Company boosted their price target on NETSTREIT from $18.00 to $20.00 and gave the stock an "overweight" rating in a research note on Wednesday, August 27th. Finally, Cantor Fitzgerald began coverage on NETSTREIT in a research note on Wednesday, October 1st. They set an "overweight" rating and a $21.00 price target on the stock. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, NETSTREIT presently has an average rating of "Moderate Buy" and a consensus target price of $20.20.

Insider Transactions at NETSTREIT

In other NETSTREIT news, CEO Mark Manheimer purchased 5,600 shares of the business's stock in a transaction on Friday, September 5th. The stock was bought at an average cost of $17.93 per share, for a total transaction of $100,408.00. Following the acquisition, the chief executive officer owned 316,378 shares of the company's stock, valued at approximately $5,672,657.54. The trade was a 1.80% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. 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.

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