Vanguard Group Inc. Increases Stock Holdings in NETSTREIT Corp. $NTST

Key Points

• Vanguard Group Inc. increased its stake in NETSTREIT Corp. by 4.0%, owning over 8.27 million shares valued at approximately $131 million as of its latest SEC filing.
• Several institutional investors, including Principal Financial Group and DigitalBridge Group, significantly raised their holdings in NETSTREIT, reflecting strong interest in the company's stock.
• NETSTREIT recently declared a quarterly dividend of $0.215, which marks an increase from the previous $0.21 dividend, indicating a dividend yield of 4.6%.

Vanguard Group Inc. increased its stake in NETSTREIT Corp. (NYSE:NTST - Free Report) by 4.0% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 8,275,681 shares of the company's stock after acquiring an additional 315,888 shares during the quarter. Vanguard Group Inc. owned about 10.13% of NETSTREIT worth $131,170,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the company. LPL Financial LLC bought a new position in NETSTREIT in the 4th quarter valued at $236,000. Wells Fargo & Company MN raised its holdings in shares of NETSTREIT by 37.4% in the 4th quarter. Wells Fargo & Company MN now owns 178,146 shares of the company's stock valued at $2,521,000 after acquiring an additional 48,521 shares in the last quarter. Envestnet Asset Management Inc. increased its position in shares of NETSTREIT by 520.3% during the 4th quarter. Envestnet Asset Management Inc. now owns 154,408 shares of the company's stock valued at $2,185,000 after purchasing an additional 129,516 shares during the last quarter. Renaissance Technologies LLC bought a new position in shares of NETSTREIT during the 4th quarter valued at about $2,322,000. Finally, Raymond James Financial Inc. bought a new position in NETSTREIT during the 4th quarter worth approximately $927,000.

NETSTREIT Trading Up 0.0%

Shares of NTST traded up $0.00 on Tuesday, reaching $18.46. 294,098 shares of the company's stock were exchanged, compared to its average volume of 1,020,077. The business has a 50 day moving average price of $17.79 and a two-hundred day moving average price of $16.28. 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 stock has a market capitalization of $1.54 billion, a P/E ratio of -230.80, a price-to-earnings-growth ratio of 4.25 and a beta of 0.89. NETSTREIT Corp. has a 12 month low of $13.42 and a 12 month high of $19.18.

NETSTREIT Increases Dividend

The company 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 $0.215 dividend. 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. This represents a $0.86 dividend on an annualized basis and a dividend yield of 4.7%. NETSTREIT's payout ratio is currently -1,075.00%.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on NTST shares. UBS Group lifted their price objective on NETSTREIT from $20.00 to $21.00 and gave the company a "buy" rating in a research note on Friday, August 15th. Truist Financial set a $19.00 price objective on NETSTREIT in a report on Friday, July 25th. Robert W. Baird boosted their price target on shares of NETSTREIT from $18.00 to $20.00 and gave the stock an "outperform" rating in a research note on Thursday, July 24th. Bank of America upgraded shares of NETSTREIT from an "underperform" rating to a "neutral" rating and boosted their price target for the stock from $18.00 to $19.00 in a research note on Monday, July 28th. Finally, Raymond James Financial reaffirmed a "strong-buy" rating and set a $21.00 price target on shares of NETSTREIT in a research note on Wednesday, July 30th. Two investment analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has issued a Hold rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Buy" and an average price target of $19.14.

About NETSTREIT

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.