Strs Ohio Acquires Shares of 547,400 NETSTREIT Corp. $NTST

Key Points

• Strs Ohio has acquired a new stake in NETSTREIT Corp., purchasing 547,400 shares valued at approximately $8.68 million, representing 0.67% ownership.
• NETSTREIT announced a quarterly dividend increase to $0.215, with the dividend yield now at 4.7%, reflecting a positive change from the previous dividend rate.
• Analyst sentiment remains positive, with several brokerages upgrading NETSTREIT’s stock and a consensus price target of $19.92, indicating a favorable outlook.

Strs Ohio bought a new stake in shares of NETSTREIT Corp. (NYSE:NTST - Free Report) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 547,400 shares of the company's stock, valued at approximately $8,676,000. Strs Ohio owned about 0.67% of NETSTREIT at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the stock. Vanguard Group Inc. lifted its position in NETSTREIT by 4.0% during the first quarter. Vanguard Group Inc. now owns 8,275,681 shares of the company's stock valued at $131,170,000 after purchasing an additional 315,888 shares during the last quarter. Principal Financial Group Inc. lifted its position in NETSTREIT by 61.3% during the first quarter. Principal Financial Group Inc. now owns 7,741,808 shares of the company's stock valued at $122,708,000 after purchasing an additional 2,941,600 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. lifted its position in NETSTREIT by 8.2% during the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,389,583 shares of the company's stock valued at $37,875,000 after purchasing an additional 181,880 shares during the last quarter. Centersquare Investment Management LLC lifted its position in NETSTREIT by 23.8% during the first quarter. Centersquare Investment Management LLC now owns 2,388,977 shares of the company's stock valued at $37,865,000 after purchasing an additional 459,487 shares during the last quarter. Finally, Nuveen Asset Management LLC lifted its position in NETSTREIT by 19.9% during the fourth quarter. Nuveen Asset Management LLC now owns 2,155,193 shares of the company's stock valued at $30,496,000 after purchasing an additional 357,678 shares during the last quarter.

NETSTREIT Stock Down 0.0%

Shares of NETSTREIT stock opened at $18.25 on Friday. The company has a debt-to-equity ratio of 0.70, a quick ratio of 3.83 and a current ratio of 3.83. NETSTREIT Corp. has a 52-week low of $13.42 and a 52-week high of $19.18. The stock has a market capitalization of $1.52 billion, a price-to-earnings ratio of -228.06, a P/E/G ratio of 4.19 and a beta of 0.89. The company's 50 day moving average price is $18.16 and its 200-day moving average price is $16.65.

NETSTREIT Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Tuesday, September 2nd will be issued a $0.215 dividend. 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%. The ex-dividend date is Tuesday, September 2nd. NETSTREIT's dividend payout ratio (DPR) is -1,075.00%.

Insider Activity

In other news, CEO Mark Manheimer bought 5,600 shares of the business's stock in a transaction dated Friday, September 5th. The shares were purchased at an average price of $17.93 per share, for a total transaction of $100,408.00. Following the completion of the acquisition, the chief executive officer owned 316,378 shares of the company's stock, valued at approximately $5,672,657.54. This trade represents a 1.80% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 0.58% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on NTST. Scotiabank reiterated an "outperform" rating on shares of NETSTREIT in a research report on Wednesday, August 27th. UBS Group increased 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. Bank of America upgraded shares of NETSTREIT from an "underperform" rating to a "neutral" rating and increased their price target for the company from $18.00 to $19.00 in a research report on Monday, July 28th. Robert W. Baird increased their price target on shares of NETSTREIT from $18.00 to $20.00 and gave the company an "outperform" rating in a research report on Thursday, July 24th. Finally, Wells Fargo & Company increased their price target on shares of NETSTREIT from $18.00 to $20.00 and gave the company an "overweight" rating in a research report on Wednesday, August 27th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and one has assigned a Hold rating to the company's stock. According to data from MarketBeat.com, NETSTREIT has an average rating of "Buy" and a consensus price target of $19.92.

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.

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