Russell Investments Group Ltd. Sells 886,340 Shares of NETSTREIT Corp. $NTST

Key Points

• Russell Investments Group Ltd. has reduced its stake in NETSTREIT Corp. by 46.4%, now owning 1,022,182 shares valued at approximately $16.2 million.
• NETSTREIT has recently announced an increase in its quarterly dividend from $0.21 to $0.215, reflecting a dividend yield of 4.6%.
• Analysts have shown a positive outlook on NETSTREIT, with recent price targets ranging from $19.00 to $21.00, and a consensus rating of "Buy."

Russell Investments Group Ltd. cut its holdings in NETSTREIT Corp. (NYSE:NTST - Free Report) by 46.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,022,182 shares of the company's stock after selling 886,340 shares during the period. Russell Investments Group Ltd. owned approximately 1.25% of NETSTREIT worth $16,202,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently made changes to their positions in NTST. Principal Financial Group Inc. grew its holdings in shares of NETSTREIT by 61.3% in the first quarter. Principal Financial Group Inc. now owns 7,741,808 shares of the company's stock worth $122,708,000 after purchasing an additional 2,941,600 shares during the last quarter. Nuveen LLC bought a new position in shares of NETSTREIT in the first quarter worth approximately $18,181,000. Hudson Bay Capital Management LP grew its holdings in shares of NETSTREIT by 195.9% in the fourth quarter. Hudson Bay Capital Management LP now owns 1,338,746 shares of the company's stock worth $18,943,000 after purchasing an additional 886,283 shares during the last quarter. DigitalBridge Group Inc. raised its position in 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 purchasing an additional 879,168 shares during the last quarter. Finally, Lasalle Investment Management Securities LLC raised its position in NETSTREIT by 30.8% during the 4th 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 during the last quarter.

NETSTREIT Stock Up 0.4%

NETSTREIT stock traded up $0.0750 on Friday, hitting $18.9550. 245,194 shares of the stock traded hands, compared to its average volume of 1,014,919. 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 firm has a market cap of $1.58 billion, a P/E ratio of -236.94, a price-to-earnings-growth ratio of 4.36 and a beta of 0.89. The business's fifty day simple moving average is $17.70 and its 200 day simple moving average is $16.20. NETSTREIT Corp. has a 1 year low of $13.42 and a 1 year high of $19.18.

NETSTREIT Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Tuesday, September 2nd will be given a dividend of $0.215 per share. This is an increase from NETSTREIT's previous quarterly dividend of $0.21. This represents a $0.86 annualized dividend and a yield of 4.5%. The ex-dividend date of this dividend is Tuesday, September 2nd. NETSTREIT's payout ratio is -1,050.00%.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. Raymond James Financial reiterated a "strong-buy" rating and issued a $21.00 price objective on shares of NETSTREIT in a report on Wednesday, July 30th. UBS Group increased their price objective on NETSTREIT from $20.00 to $21.00 and gave the stock a "buy" rating in a report on Friday, August 15th. Truist Financial set a $19.00 price objective on NETSTREIT in a report on Friday, July 25th. Bank of America raised shares of NETSTREIT from an "underperform" rating to a "neutral" rating and lifted their target price for the company from $18.00 to $19.00 in a research note on Monday, July 28th. Finally, Robert W. Baird lifted their target price 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. Two equities 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's stock. According to MarketBeat.com, the company has a consensus rating of "Buy" and an average price target of $19.14.

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.