First Trust Advisors LP Sells 27,306 Shares of NETSTREIT Corp. (NYSE:NTST)

First Trust Advisors LP trimmed its stake in shares of NETSTREIT Corp. (NYSE:NTST - Free Report) by 66.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 13,501 shares of the company's stock after selling 27,306 shares during the quarter. First Trust Advisors LP's holdings in NETSTREIT were worth $191,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Swiss National Bank grew its position in shares of NETSTREIT by 5.7% in the 4th quarter. Swiss National Bank now owns 152,200 shares of the company's stock worth $2,154,000 after buying an additional 8,200 shares during the last quarter. JPMorgan Chase & Co. grew its position in shares of NETSTREIT by 173.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 569,527 shares of the company's stock worth $9,414,000 after buying an additional 361,577 shares during the last quarter. Cohen & Steers Inc. boosted its position in shares of NETSTREIT by 3.0% during the fourth quarter. Cohen & Steers Inc. now owns 6,663,409 shares of the company's stock valued at $94,287,000 after purchasing an additional 191,846 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of NETSTREIT by 5.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,133,552 shares of the company's stock valued at $16,040,000 after purchasing an additional 55,378 shares in the last quarter. Finally, LPL Financial LLC bought a new stake in NETSTREIT in the 4th quarter worth about $236,000.

Insider Activity at NETSTREIT

In related news, CEO Mark Manheimer purchased 6,384 shares of the firm's stock in a transaction that occurred on Monday, March 10th. The shares were bought at an average price of $15.33 per share, for a total transaction of $97,866.72. Following the acquisition, the chief executive officer now owns 304,572 shares of the company's stock, valued at approximately $4,669,088.76. This represents a 2.14% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In the last 90 days, insiders have purchased 12,000 shares of company stock worth $183,172. Company insiders own 0.58% of the company's stock.

Analyst Ratings Changes

NTST has been the topic of a number of recent analyst reports. Raymond James dropped their price target on shares of NETSTREIT from $19.00 to $17.00 and set a "strong-buy" rating on the stock in a report on Friday, January 17th. Capital One Financial initiated coverage on shares of NETSTREIT in a research report on Wednesday, February 12th. They set an "overweight" rating on the stock. Wells Fargo & Company initiated coverage on NETSTREIT in a research report on Monday, April 7th. They set an "overweight" rating and a $18.00 price objective for the company. Finally, Mizuho upped their price objective on NETSTREIT from $15.00 to $17.00 and gave the company an "outperform" rating in a research report on Thursday, April 3rd. One research analyst has rated the stock with a hold rating, six have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, NETSTREIT has an average rating of "Buy" and a consensus price target of $18.03.

NETSTREIT Stock Performance

NTST traded up $0.05 during midday trading on Friday, reaching $15.77. The company had a trading volume of 89,769 shares, compared to its average volume of 932,269. The company has a market cap of $1.29 billion, a P/E ratio of -262.96 and a beta of 0.90. The company has a quick ratio of 4.11, a current ratio of 4.11 and a debt-to-equity ratio of 0.57. The business has a 50-day moving average of $15.62 and a two-hundred day moving average of $15.11. NETSTREIT Corp. has a 1 year low of $13.42 and a 1 year high of $17.99.

NETSTREIT Announces Dividend

The business also recently declared 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 of this dividend is Monday, June 2nd. This represents a $0.84 annualized dividend and a yield of 5.33%. NETSTREIT's payout ratio is presently -560.00%.

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.