Nuveen Asset Management LLC grew its position in shares of NETSTREIT Corp. (NYSE:NTST - Free Report) by 19.9% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,155,193 shares of the company's stock after buying an additional 357,678 shares during the quarter. Nuveen Asset Management LLC owned approximately 2.64% of NETSTREIT worth $30,496,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors have also made changes to their positions in NTST. Principal Financial Group Inc. lifted its holdings in shares of NETSTREIT by 46.4% during the 4th quarter. Principal Financial Group Inc. now owns 4,800,208 shares of the company's stock valued at $67,924,000 after buying an additional 1,521,668 shares during the last quarter. Tributary Capital Management LLC acquired a new stake in shares of NETSTREIT during the 4th quarter valued at about $12,633,000. Hudson Bay Capital Management LP lifted its holdings in shares of NETSTREIT by 195.9% during the 4th quarter. Hudson Bay Capital Management LP now owns 1,338,746 shares of the company's stock valued at $18,943,000 after buying an additional 886,283 shares during the last quarter. DigitalBridge Group Inc. lifted its holdings in shares of NETSTREIT by 1,175.4% during the 4th quarter. DigitalBridge Group Inc. now owns 953,968 shares of the company's stock valued at $13,499,000 after buying an additional 879,168 shares during the last quarter. Finally, Lasalle Investment Management Securities LLC lifted its holdings 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 purchasing an additional 811,632 shares during the last quarter.
Wall Street Analysts Forecast Growth
NTST has been the subject of several analyst reports. Mizuho boosted their target price on NETSTREIT from $15.00 to $17.00 and gave the stock an "outperform" rating in a report on Thursday, April 3rd. Capital One Financial initiated coverage on NETSTREIT in a report on Wednesday, February 12th. They issued an "overweight" rating for the company. Wells Fargo & Company initiated coverage on NETSTREIT in a report on Monday, April 7th. They issued an "overweight" rating and a $18.00 target price for the company. Finally, Raymond James restated a "strong-buy" rating on shares of NETSTREIT in a report on Friday. One investment analyst has rated the stock with a hold rating, six have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of "Buy" and an average target price of $18.16.
Get Our Latest Stock Report on NETSTREIT
NETSTREIT Stock Performance
NYSE NTST traded up $0.25 during trading on Tuesday, hitting $15.90. The company's stock had a trading volume of 816,125 shares, compared to its average volume of 940,975. The company has a quick ratio of 4.11, a current ratio of 4.11 and a debt-to-equity ratio of 0.57. The firm has a 50 day moving average price of $15.71 and a 200 day moving average price of $15.11. The firm has a market cap of $1.30 billion, a P/E ratio of -264.96 and a beta of 0.90. NETSTREIT Corp. has a 52 week low of $13.42 and a 52 week high of $17.53.
NETSTREIT Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Monday, June 2nd will be given a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 5.28%. The ex-dividend date of this dividend is Monday, June 2nd. NETSTREIT's dividend payout ratio is currently -560.00%.
Insiders Place Their Bets
In other news, CEO Mark Manheimer acquired 3,616 shares of the stock in a transaction dated Friday, March 7th. The shares were acquired at an average cost of $15.22 per share, for a total transaction of $55,035.52. Following the completion of the transaction, the chief executive officer now owns 295,252 shares in the company, valued at approximately $4,493,735.44. This trade represents a 1.24% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders have acquired a total of 12,000 shares of company stock valued at $183,172 in the last three months. Company insiders own 0.58% of the company's stock.
NETSTREIT Company Profile
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Free Report)
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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