Two Sigma Investments LP Sells 269,045 Shares of NETSTREIT Corp. (NYSE:NTST)

Two Sigma Investments LP lowered its stake in shares of NETSTREIT Corp. (NYSE:NTST - Free Report) by 22.0% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 953,184 shares of the company's stock after selling 269,045 shares during the quarter. Two Sigma Investments LP owned approximately 1.17% of NETSTREIT worth $13,488,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in NTST. American Century Companies Inc. lifted its position in NETSTREIT by 3.3% during the 4th quarter. American Century Companies Inc. now owns 24,400 shares of the company's stock valued at $345,000 after purchasing an additional 781 shares during the period. Daiwa Securities Group Inc. boosted its stake in NETSTREIT by 3.1% in the fourth quarter. Daiwa Securities Group Inc. now owns 26,383 shares of the company's stock valued at $373,000 after acquiring an additional 789 shares during the last quarter. Carmel Capital Partners LLC boosted its stake in NETSTREIT by 4.7% in the fourth quarter. Carmel Capital Partners LLC now owns 26,180 shares of the company's stock valued at $370,000 after acquiring an additional 1,174 shares during the last quarter. Corton Capital Inc. grew its holdings in NETSTREIT by 7.7% during the 4th quarter. Corton Capital Inc. now owns 18,313 shares of the company's stock worth $259,000 after acquiring an additional 1,305 shares during the period. Finally, Arizona State Retirement System raised its position in shares of NETSTREIT by 6.3% during the 4th quarter. Arizona State Retirement System now owns 22,456 shares of the company's stock valued at $318,000 after acquiring an additional 1,331 shares during the last quarter.

NETSTREIT Stock Up 1.0%

Shares of NTST traded up $0.16 during midday trading on Wednesday, hitting $16.05. The stock had a trading volume of 1,028,555 shares, compared to its average volume of 941,324. The firm has a market cap of $1.31 billion, a price-to-earnings ratio of -267.37 and a beta of 0.90. The company has a 50 day simple moving average of $15.71 and a two-hundred day simple moving average of $15.11. NETSTREIT Corp. has a twelve month low of $13.42 and a twelve month high of $17.53. The company has a debt-to-equity ratio of 0.57, a current ratio of 4.11 and a quick ratio of 4.11.

NETSTREIT Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Monday, June 2nd will be issued a dividend of $0.21 per share. The ex-dividend date is Monday, June 2nd. This represents a $0.84 dividend on an annualized basis and a dividend yield of 5.24%. NETSTREIT's payout ratio is presently -560.00%.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the company. Wells Fargo & Company assumed coverage on NETSTREIT in a research note on Monday, April 7th. They set an "overweight" rating and a $18.00 price objective for the company. Mizuho raised their target price on NETSTREIT from $15.00 to $17.00 and gave the stock an "outperform" rating in a report on Thursday, April 3rd. Capital One Financial initiated coverage on NETSTREIT in a research note on Wednesday, February 12th. They issued an "overweight" rating for the company. Finally, Raymond James reiterated a "strong-buy" rating on shares of NETSTREIT in a report on Friday, May 23rd. One research analyst has rated the stock with a hold rating, six have issued a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat.com, NETSTREIT has an average rating of "Buy" and an average price target of $18.16.

Insider Activity at NETSTREIT

In other news, CEO Mark Manheimer purchased 3,616 shares of NETSTREIT stock in a transaction on Friday, March 7th. The stock was purchased at an average price of $15.22 per share, with a total value of $55,035.52. Following the transaction, the chief executive officer now directly owns 295,252 shares in the company, valued at $4,493,735.44. The trade was a 1.24% increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this link. In the last quarter, insiders have bought 12,000 shares of company stock valued at $183,172. 0.58% of the stock is owned by insiders.

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.