Freestone Grove Partners LP Invests $363,000 in NETSTREIT Corp. (NYSE:NTST)

Freestone Grove Partners LP purchased a new position in NETSTREIT Corp. (NYSE:NTST - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 25,642 shares of the company's stock, valued at approximately $363,000.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Principal Financial Group Inc. boosted its holdings in NETSTREIT by 46.4% in the 4th quarter. Principal Financial Group Inc. now owns 4,800,208 shares of the company's stock worth $67,924,000 after buying an additional 1,521,668 shares during the period. Tributary Capital Management LLC bought a new position in NETSTREIT in the fourth quarter worth about $12,633,000. Lasalle Investment Management Securities LLC boosted its holdings in NETSTREIT by 30.8% in the fourth quarter. Lasalle Investment Management Securities LLC now owns 3,449,229 shares of the company's stock worth $48,807,000 after acquiring an additional 811,632 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. lifted its position in NETSTREIT by 36.7% during the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,207,703 shares of the company's stock worth $31,239,000 after acquiring an additional 592,439 shares during the period. Finally, Nordea Investment Management AB acquired a new stake in shares of NETSTREIT in the fourth quarter worth $6,714,000.

Insider Activity at NETSTREIT

In other NETSTREIT news, CEO Mark Manheimer acquired 6,384 shares of the stock in a transaction dated Monday, March 10th. The stock was purchased at an average cost of $15.33 per share, with a total value of $97,866.72. Following the transaction, the chief executive officer now owns 304,572 shares in the company, valued at approximately $4,669,088.76. The trade was a 2.14 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders purchased a total of 12,000 shares of company stock valued at $183,172 over the last quarter. 0.58% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of analysts have commented on NTST shares. Mizuho increased their price objective on shares of NETSTREIT from $15.00 to $17.00 and gave the company an "outperform" rating in a report on Thursday, April 3rd. Capital One Financial began coverage on shares of NETSTREIT in a research report on Wednesday, February 12th. They set an "overweight" rating on the stock. Raymond James reduced their price objective on shares of NETSTREIT from $19.00 to $17.00 and set a "strong-buy" rating for the company in a research note on Friday, January 17th. Finally, Wells Fargo & Company initiated coverage on shares of NETSTREIT in a research report on Monday, April 7th. They issued an "overweight" rating and a $18.00 price objective for the company. One 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, the company currently has an average rating of "Buy" and an average target price of $18.03.

NETSTREIT Stock Up 1.2 %

Shares of NTST traded up $0.19 during midday trading on Friday, hitting $16.17. The stock had a trading volume of 861,590 shares, compared to its average volume of 927,636. NETSTREIT Corp. has a twelve month low of $13.42 and a twelve month high of $18.10. The company has a 50 day simple moving average of $15.57 and a two-hundred day simple moving average of $15.11. The firm has a market cap of $1.32 billion, a price-to-earnings ratio of -269.46 and a beta of 0.90. 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 firm also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Monday, June 2nd will be given a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 5.19%. The ex-dividend date of this dividend is Monday, June 2nd. NETSTREIT's dividend payout ratio is -560.00%.

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.