Nuveen LLC Buys Shares of 1,147,035 NETSTREIT Corp. $NTST

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

Other institutional investors have also recently modified their holdings of the company. Assetmark Inc. grew its holdings in shares of NETSTREIT by 126.3% during the 1st quarter. Assetmark Inc. now owns 2,150 shares of the company's stock valued at $34,000 after purchasing an additional 1,200 shares during the last quarter. CWM LLC boosted its position in NETSTREIT by 78.2% during the first quarter. CWM LLC now owns 2,253 shares of the company's stock valued at $36,000 after buying an additional 989 shares during the period. Lazard Asset Management LLC bought a new position in shares of NETSTREIT during the fourth quarter valued at about $41,000. GAMMA Investing LLC increased its holdings in shares of NETSTREIT by 2,779.7% in the first quarter. GAMMA Investing LLC now owns 7,228 shares of the company's stock worth $115,000 after buying an additional 6,977 shares during the period. Finally, Comerica Bank lifted 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 valued at $137,000 after acquiring an additional 6,166 shares during the last quarter.

NETSTREIT Stock Down 2.2%

NTST stock traded down $0.4080 during midday trading on Friday, hitting $18.4720. The company's stock had a trading volume of 1,714,218 shares, compared to its average volume of 1,410,775. NETSTREIT Corp. has a 12 month low of $13.42 and a 12 month high of $19.18. The firm's 50-day moving average is $17.75 and its 200-day moving average is $16.23. The company has a market cap of $1.54 billion, a PE ratio of -230.90, a P/E/G ratio of 4.33 and a beta of 0.89. The company has a current ratio of 3.83, a quick ratio of 3.83 and a debt-to-equity ratio of 0.70.

NETSTREIT Increases Dividend

The business also recently disclosed 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 a positive change from NETSTREIT's previous quarterly dividend of $0.21. This represents a $0.86 annualized dividend and a dividend yield of 4.7%. NETSTREIT's dividend payout ratio is presently -1,050.00%.

Wall Street Analyst Weigh In

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

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.