Bank of America Corp DE Sells 350,436 Shares of NETSTREIT Corp. (NYSE:NTST)

Bank of America Corp DE reduced its stake in shares of NETSTREIT Corp. (NYSE:NTST - Free Report) by 82.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 73,660 shares of the company's stock after selling 350,436 shares during the quarter. Bank of America Corp DE owned about 0.09% of NETSTREIT worth $1,042,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. PNC Financial Services Group Inc. boosted its stake in NETSTREIT by 861.1% during the 4th quarter. PNC Financial Services Group Inc. now owns 5,430 shares of the company's stock worth $77,000 after acquiring an additional 4,865 shares during the last quarter. Comerica Bank raised its holdings in NETSTREIT by 174.3% in the fourth quarter. Comerica Bank now owns 9,703 shares of the company's stock worth $137,000 after purchasing an additional 6,166 shares during the period. Prudent Man Advisors LLC bought a new position in shares of NETSTREIT during the fourth quarter worth $143,000. Mariner LLC acquired a new position in shares of NETSTREIT in the 4th quarter valued at $143,000. Finally, Envestnet Portfolio Solutions Inc. bought a new stake in shares of NETSTREIT in the 4th quarter valued at $152,000.

NETSTREIT Stock Up 0.2%

NETSTREIT stock traded up $0.04 during midday trading on Tuesday, reaching $16.40. The stock had a trading volume of 1,426,487 shares, compared to its average volume of 958,026. The stock has a market capitalization of $1.34 billion, a P/E ratio of -273.20 and a beta of 0.88. The firm's fifty day simple moving average is $15.83 and its 200-day simple moving average is $15.13. 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 1-year low of $13.42 and a 1-year high of $17.53.

NETSTREIT Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Monday, June 2nd will be issued a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 5.12%. The ex-dividend date of this dividend is Monday, June 2nd. NETSTREIT's payout ratio is -560.00%.

Analyst Ratings Changes

NTST has been the topic of several recent analyst reports. Raymond James reiterated a "strong-buy" rating on shares of NETSTREIT in a report on Friday, May 23rd. Wells Fargo & Company initiated coverage on NETSTREIT in a report on Monday, April 7th. They set an "overweight" rating and a $18.00 price objective on the stock. Mizuho boosted their price objective on NETSTREIT from $15.00 to $17.00 and gave the company an "outperform" rating in a research report on Thursday, April 3rd. Finally, Capital One Financial started coverage on shares of NETSTREIT in a report on Wednesday, February 12th. They set an "overweight" rating on the stock. One investment analyst has rated the stock with a hold rating, six have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Buy" and a consensus price target of $18.16.

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.