1,147,035 Shares in NETSTREIT Corp. $NTST Purchased by Nuveen LLC

Key Points

• Nuveen LLC acquired 1,147,035 shares of NETSTREIT Corp., worth approximately $18.2 million, increasing its ownership stake to 1.40%.
• The company plans to pay a quarterly dividend of $0.215 per share on September 15, increasing the annual yield to 4.6%, up from the previous quarterly dividend.
• Analysts have shown positive sentiment towards NETSTREIT, with multiple upgrades and a consensus target price of $19.14, indicating a strong buy outlook.

Nuveen LLC bought a new stake in shares of NETSTREIT Corp. (NYSE:NTST - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 1,147,035 shares of the company's stock, valued at approximately $18,181,000. Nuveen LLC owned approximately 1.40% of NETSTREIT as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Assetmark Inc. grew its stake in NETSTREIT by 126.3% during the first quarter. Assetmark Inc. now owns 2,150 shares of the company's stock valued at $34,000 after acquiring an additional 1,200 shares in the last quarter. CWM LLC grew its stake in shares of NETSTREIT by 78.2% in the 1st quarter. CWM LLC now owns 2,253 shares of the company's stock worth $36,000 after buying an additional 989 shares in the last quarter. Lazard Asset Management LLC purchased a new position in shares of NETSTREIT in the 4th quarter worth $41,000. GAMMA Investing LLC grew its stake in shares of NETSTREIT by 2,779.7% in the 1st quarter. GAMMA Investing LLC now owns 7,228 shares of the company's stock worth $115,000 after buying an additional 6,977 shares in the last quarter. Finally, 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 worth $137,000 after buying an additional 6,166 shares in the last quarter.

NETSTREIT Trading Down 0.3%

Shares of NTST stock traded down $0.0550 during trading hours on Monday, reaching $18.4650. 1,054,582 shares of the stock were exchanged, compared to its average volume of 1,237,793. NETSTREIT Corp. has a 12-month low of $13.42 and a 12-month high of $19.18. The company has a current ratio of 3.83, a quick ratio of 3.83 and a debt-to-equity ratio of 0.70. The company's 50-day moving average price is $17.79 and its 200-day moving average price is $16.28. The firm has a market capitalization of $1.54 billion, a price-to-earnings ratio of -230.81, a price-to-earnings-growth ratio of 4.25 and a beta of 0.89.

NETSTREIT Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Tuesday, September 2nd will be paid a dividend of $0.215 per share. The ex-dividend date of this dividend is Tuesday, September 2nd. This represents a $0.86 dividend on an annualized basis and a dividend yield of 4.7%. This is a boost from NETSTREIT's previous quarterly dividend of $0.21. NETSTREIT's dividend payout ratio is presently -1,050.00%.

Analyst Ratings Changes

A number of brokerages have commented on NTST. UBS Group lifted their price objective on shares of NETSTREIT from $20.00 to $21.00 and gave the stock a "buy" rating in a research note on Friday, August 15th. Robert W. Baird lifted their price objective on shares of NETSTREIT from $18.00 to $20.00 and gave the stock an "outperform" rating in a research note on Thursday, July 24th. Bank of America raised shares of NETSTREIT from an "underperform" rating to a "neutral" rating and lifted their price objective for the stock from $18.00 to $19.00 in a research note on Monday, July 28th. Truist Financial set a $19.00 price objective on shares of NETSTREIT in a research note on Friday, July 25th. Finally, Raymond James Financial reissued a "strong-buy" rating and issued a $21.00 price objective on shares of NETSTREIT in a research note on Wednesday, July 30th. Two research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, NETSTREIT currently has a consensus rating of "Buy" and a consensus target price of $19.14.

NETSTREIT 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.