Two Sigma Advisers LP raised its stake in shares of NETSTREIT Corp. (NYSE:NTST - Free Report) by 27.6% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 543,500 shares of the company's stock after acquiring an additional 117,700 shares during the period. Two Sigma Advisers LP owned approximately 0.67% of NETSTREIT worth $7,691,000 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 NTST. Principal Financial Group Inc. raised its holdings in NETSTREIT by 46.4% during the fourth quarter. Principal Financial Group Inc. now owns 4,800,208 shares of the company's stock valued at $67,924,000 after acquiring an additional 1,521,668 shares during the period. Tributary Capital Management LLC bought a new position in NETSTREIT in the 4th quarter worth about $12,633,000. Hudson Bay Capital Management LP grew its position 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 worth $18,943,000 after buying an additional 886,283 shares in the last quarter. DigitalBridge Group Inc. grew its holdings in NETSTREIT by 1,175.4% during the 4th quarter. DigitalBridge Group Inc. now owns 953,968 shares of the company's stock worth $13,499,000 after acquiring an additional 879,168 shares in the last quarter. Finally, Lasalle Investment Management Securities LLC boosted its stake in shares of NETSTREIT by 30.8% during the fourth quarter. Lasalle Investment Management Securities LLC now owns 3,449,229 shares of the company's stock valued at $48,807,000 after purchasing an additional 811,632 shares in the last quarter.
NETSTREIT Price Performance
Shares of NTST traded down $0.16 during mid-day trading on Thursday, hitting $15.88. 103,756 shares of the company were exchanged, compared to its average volume of 900,576. The stock has a market cap of $1.30 billion, a price-to-earnings ratio of -264.54 and a beta of 0.90. 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. The company has a 50 day moving average of $15.73 and a 200-day moving average of $15.12.
NETSTREIT Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Monday, June 2nd will be paid a dividend of $0.21 per share. The ex-dividend date of this dividend is Monday, June 2nd. This represents a $0.84 annualized dividend and a yield of 5.29%. NETSTREIT's dividend payout ratio (DPR) is -560.00%.
Insider Activity at NETSTREIT
In other NETSTREIT news, CEO Mark Manheimer purchased 6,384 shares of the stock in a transaction that occurred on Monday, March 10th. The stock was purchased at an average cost of $15.33 per share, with a total value of $97,866.72. Following the completion of the acquisition, the chief executive officer now directly owns 304,572 shares of the company's stock, valued at $4,669,088.76. This trade represents a 2.14% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In the last quarter, insiders purchased 12,000 shares of company stock worth $183,172. Insiders own 0.58% of the company's stock.
Analyst Ratings Changes
Several equities research analysts have weighed in on the company. Wells Fargo & Company assumed coverage on NETSTREIT in a report on Monday, April 7th. They issued an "overweight" rating and a $18.00 price target for the company. Mizuho lifted their target price on shares of NETSTREIT from $15.00 to $17.00 and gave the stock an "outperform" rating in a research note on Thursday, April 3rd. Raymond James reiterated a "strong-buy" rating on shares of NETSTREIT in a research note on Friday, May 23rd. Finally, Capital One Financial assumed coverage on NETSTREIT in a report on Wednesday, February 12th. They set an "overweight" rating for the company. One analyst has rated the stock with a hold rating, six have issued a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat, NETSTREIT currently has a consensus rating of "Buy" and a consensus target price of $18.16.
Get Our Latest Stock Analysis on NTST
About NETSTREIT
(
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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