Presima Securities ULC Has $10.68 Million Holdings in NETSTREIT Corp. $NTST

Key Points

• Presima Securities ULC increased its stake in NETSTREIT Corp. by 87.6%, owning 674,061 shares valued at approximately $10.68 million, marking it as the 15th largest holding in their portfolio.
• NETSTREIT recently announced a quarterly dividend of $0.215, a boost from the previous amount, which represents an annualized yield of 4.8%.
• Wall Street analysts have shown positive outlooks on NTST shares, with nine analysts rating it as "Buy" or better, and an average price target of $19.58.

Presima Securities ULC grew its holdings in shares of NETSTREIT Corp. (NYSE:NTST - Free Report) by 87.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 674,061 shares of the company's stock after buying an additional 314,728 shares during the quarter. NETSTREIT accounts for approximately 2.4% of Presima Securities ULC's holdings, making the stock its 15th biggest holding. Presima Securities ULC owned approximately 0.82% of NETSTREIT worth $10,684,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD boosted its stake in shares of NETSTREIT by 17.9% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 30,436 shares of the company's stock valued at $431,000 after purchasing an additional 4,624 shares in the last quarter. Northern Trust Corp raised its holdings in NETSTREIT by 31.2% in the 4th quarter. Northern Trust Corp now owns 881,688 shares of the company's stock valued at $12,476,000 after acquiring an additional 209,475 shares during the last quarter. Comerica Bank grew its stake in shares of 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 buying an additional 6,166 shares during the period. Ameriprise Financial Inc. boosted its position in shares of NETSTREIT by 21.5% during the 4th quarter. Ameriprise Financial Inc. now owns 44,116 shares of the company's stock worth $624,000 after purchasing an additional 7,820 shares during the period. Finally, BNP Paribas Financial Markets acquired a new stake in NETSTREIT in the fourth quarter valued at approximately $788,000.

Analysts Set New Price Targets

A number of equities analysts have recently commented on NTST shares. Scotiabank reaffirmed an "outperform" rating on shares of NETSTREIT in a report on Wednesday, August 27th. Raymond James Financial reiterated a "strong-buy" rating and issued a $21.00 price target on shares of NETSTREIT in a report on Wednesday, July 30th. 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. Truist Financial set a $19.00 target price on NETSTREIT in a research note on Friday, July 25th. Finally, Wells Fargo & Company upped their target price on shares of NETSTREIT from $18.00 to $20.00 and gave the company an "overweight" rating in a research note on Wednesday, August 27th. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus target price of $19.92.

Insider Activity

In related news, CEO Mark Manheimer bought 5,600 shares of the firm's stock in a transaction on Friday, September 5th. The stock was bought at an average price of $17.93 per share, with a total value of $100,408.00. Following the purchase, the chief executive officer directly owned 316,378 shares of the company's stock, valued at approximately $5,672,657.54. This represents a 1.80% increase in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.58% of the stock is owned by company insiders.

NETSTREIT Price Performance

NETSTREIT stock traded down $0.02 during mid-day trading on Friday, hitting $18.23. The company's stock had a trading volume of 213,931 shares, compared to its average volume of 1,024,388. The company has a quick ratio of 3.83, a current ratio of 3.83 and a debt-to-equity ratio of 0.70. The stock has a market capitalization of $1.52 billion, a P/E ratio of -227.94, a P/E/G ratio of 4.19 and a beta of 0.89. NETSTREIT Corp. has a twelve month low of $13.42 and a twelve month high of $19.18. The stock's fifty day moving average price is $18.13 and its two-hundred day moving average price is $16.61.

NETSTREIT Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Tuesday, September 2nd will be paid a $0.215 dividend. The ex-dividend date of this dividend is Tuesday, September 2nd. This represents a $0.86 annualized dividend and a yield of 4.7%. This is an increase from NETSTREIT's previous quarterly dividend of $0.21. NETSTREIT's dividend payout ratio (DPR) is currently -1,075.00%.

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.