NETSTREIT Corp. $NTST Shares Sold by T. Rowe Price Investment Management Inc.

Key Points

• T. Rowe Price Investment Management Inc. reduced its stake in NETSTREIT Corp. by 1.6%, now owning approximately 6.72 million shares valued at $106.54 million.
• Bank of America recently upgraded NETSTREIT from an "underperform" to a "neutral" rating, setting a new price objective of $19.00, while several other firms have also issued positive ratings.
• NETSTREIT announced a quarterly dividend increase to $0.215 per share, reflecting a 4.6% yield, with the next payment scheduled for September 15th.

T. Rowe Price Investment Management Inc. trimmed its holdings in shares of NETSTREIT Corp. (NYSE:NTST - Free Report) by 1.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 6,721,968 shares of the company's stock after selling 112,150 shares during the quarter. T. Rowe Price Investment Management Inc. owned approximately 8.23% of NETSTREIT worth $106,544,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Wedge Capital Management L L P NC bought a new stake in NETSTREIT during the first quarter valued at approximately $2,389,000. LPL Financial LLC bought a new stake in NETSTREIT in the fourth quarter worth $236,000. Freestone Grove Partners LP bought a new stake in NETSTREIT in the fourth quarter worth $363,000. Raymond James Financial Inc. bought a new stake in NETSTREIT in the fourth quarter worth $927,000. Finally, DigitalBridge Group Inc. increased its position in NETSTREIT by 1,175.4% during the fourth quarter. DigitalBridge Group Inc. now owns 953,968 shares of the company's stock valued at $13,499,000 after acquiring an additional 879,168 shares during the last quarter.

NETSTREIT Price Performance

NTST stock traded down $0.0550 during midday trading on Monday, reaching $18.4650. The stock had a trading volume of 1,054,582 shares, compared to its average volume of 1,024,673. The company's fifty day simple moving average is $17.75 and its 200 day simple moving average is $16.25. 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 has a market cap 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 Corp. has a 52-week low of $13.42 and a 52-week high of $19.18.

NETSTREIT Increases Dividend

The business also recently declared 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 is Tuesday, September 2nd. This represents a $0.86 annualized dividend and a dividend yield of 4.7%. This is a boost from NETSTREIT's previous quarterly dividend of $0.21. NETSTREIT's payout ratio is presently -1,050.00%.

Analyst Ratings Changes

NTST has been the topic of a number of analyst reports. UBS Group boosted their price objective 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. Raymond James Financial reissued a "strong-buy" rating and set a $21.00 price target on shares of NETSTREIT in a research report on Wednesday, July 30th. Truist Financial set a $19.00 price objective on shares of NETSTREIT in a research report on Friday, July 25th. Bank of America raised shares of 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 report on Monday, July 28th. Finally, Robert W. Baird increased their price target on shares of NETSTREIT from $18.00 to $20.00 and gave the stock an "outperform" rating in a report on Thursday, July 24th. Two analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has assigned a Hold rating to the company's stock. According to data from MarketBeat.com, NETSTREIT presently has an average rating of "Buy" and a consensus 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.