Presima Securities ULC Purchases 314,728 Shares of 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 Form 13F filing with the SEC. The firm owned 674,061 shares of the company's stock after buying an additional 314,728 shares during the period. NETSTREIT accounts for 2.4% of Presima Securities ULC's portfolio, making the stock its 15th biggest position. Presima Securities ULC owned approximately 0.82% of NETSTREIT worth $10,684,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Hohimer Wealth Management LLC boosted its holdings in NETSTREIT by 6.2% in the first 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 in the last quarter. Amundi lifted its position in shares of NETSTREIT by 1.6% in the 1st quarter. Amundi now owns 45,361 shares of the company's stock worth $709,000 after purchasing an additional 704 shares during the period. Arizona State Retirement System boosted its stake in shares of NETSTREIT by 4.2% during the 1st quarter. Arizona State Retirement System now owns 23,401 shares of the company's stock valued at $371,000 after purchasing an additional 945 shares in the last quarter. CWM LLC boosted its stake in shares of NETSTREIT by 78.2% during the 1st quarter. CWM LLC now owns 2,253 shares of the company's stock valued at $36,000 after purchasing an additional 989 shares in the last quarter. Finally, American Century Companies Inc. grew its holdings in shares of NETSTREIT by 4.4% during the 1st quarter. American Century Companies Inc. now owns 25,465 shares of the company's stock worth $404,000 after acquiring an additional 1,065 shares during the period.

NETSTREIT Stock Down 0.4%

NYSE NTST traded down $0.08 during mid-day trading on Wednesday, reaching $18.23. The stock had a trading volume of 766,348 shares, compared to its average volume of 1,023,778. The stock has a market cap of $1.52 billion, a PE ratio of 14.19, a price-to-earnings-growth ratio of 4.20 and a beta of 0.89. NETSTREIT Corp. has a 1 year low of $13.42 and a 1 year high of $19.18. The company has a debt-to-equity ratio of 0.70, a current ratio of 3.83 and a quick ratio of 3.83. The company has a fifty day moving average price of $18.08 and a 200 day moving average price of $16.57.

NETSTREIT Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Stockholders 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 is an increase from NETSTREIT's previous quarterly dividend of $0.21. This represents a $0.86 dividend on an annualized basis and a dividend yield of 4.7%. NETSTREIT's dividend payout ratio is currently -1,075.00%.

Analyst Ratings Changes

Several equities research analysts recently weighed in on NTST shares. Robert W. Baird lifted their price target on NETSTREIT from $18.00 to $20.00 and gave the company an "outperform" rating in a research report on Thursday, July 24th. UBS Group boosted their target price on shares of NETSTREIT from $20.00 to $21.00 and gave the company a "buy" rating in a report on Friday, August 15th. Raymond James Financial reiterated a "strong-buy" rating and issued a $21.00 price target on shares of NETSTREIT in a research note on Wednesday, July 30th. Bank of America raised shares of NETSTREIT from an "underperform" rating to a "neutral" rating and lifted their price target for the company from $18.00 to $19.00 in a research report on Monday, July 28th. Finally, Truist Financial set a $19.00 price objective on shares of NETSTREIT in a report on Friday, July 25th. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of "Buy" and an average target price of $19.58.

Insider Activity at NETSTREIT

In other NETSTREIT news, CEO Mark Manheimer acquired 5,600 shares of NETSTREIT stock in a transaction that occurred 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 $5,672,657.54. This represents a 1.80% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.58% of the stock is owned by company 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.