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. lessened its stake in shares of NETSTREIT Corp. (NYSE:NTST - Free Report) by 46.4% during the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,022,182 shares of the company's stock after selling 886,340 shares during the quarter. Russell Investments Group Ltd. owned approximately 1.25% of NETSTREIT worth $16,202,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the business. Vanguard Group Inc. grew its stake in shares of NETSTREIT by 4.0% in the first quarter. Vanguard Group Inc. now owns 8,275,681 shares of the company's stock worth $131,170,000 after purchasing an additional 315,888 shares during the last quarter. Principal Financial Group Inc. grew its stake 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. T. Rowe Price Investment Management Inc. grew its stake in shares of NETSTREIT by 5.5% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 6,834,118 shares of the company's stock worth $96,703,000 after purchasing an additional 354,973 shares during the last quarter. Lasalle Investment Management Securities LLC boosted its position in 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 acquiring an additional 811,632 shares during the last quarter. Finally, Deprince Race & Zollo Inc. boosted its position in NETSTREIT by 30.9% during the fourth quarter. Deprince Race & Zollo Inc. now owns 3,044,157 shares of the company's stock valued at $43,075,000 after acquiring an additional 718,193 shares during the last quarter.

NETSTREIT Stock Down 0.2%

NTST stock traded down $0.0450 during trading on Thursday, reaching $18.9150. The stock had a trading volume of 416,559 shares, compared to its average volume of 1,017,296. NETSTREIT Corp. has a one year low of $13.42 and a one year high of $19.02. The company has a quick ratio of 3.83, a current ratio of 3.83 and a debt-to-equity ratio of 0.70. The company's 50 day moving average is $17.66 and its two-hundred day moving average is $16.17. The company has a market capitalization of $1.58 billion, a price-to-earnings ratio of -236.19, a P/E/G ratio of 4.31 and a beta of 0.89.

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 $0.215 dividend. This represents a $0.86 dividend on an annualized basis and a yield of 4.5%. 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. NETSTREIT's payout ratio is currently -1,050.00%.

Wall Street Analyst Weigh In

A number of brokerages have commented on NTST. UBS Group upped their price target on shares of NETSTREIT from $20.00 to $21.00 and gave the company a "buy" rating in a research report on Friday, August 15th. Truist Financial set a $19.00 price target on shares of NETSTREIT in a research report on Friday, July 25th. 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 report on Thursday, July 24th. Bank of America upgraded shares of NETSTREIT from an "underperform" rating to a "neutral" rating and upped their price objective for the company from $18.00 to $19.00 in a report on Monday, July 28th. Finally, Raymond James Financial reiterated a "strong-buy" rating and set a $21.00 price objective on shares of NETSTREIT in a report on Wednesday, July 30th. Two investment 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 stock. According to data from MarketBeat.com, the company presently has an average rating of "Buy" and a consensus price target 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.