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

Freestone Grove Partners LP bought a new position in NETSTREIT Corp. (NYSE:NTST - Free Report) during the fourth quarter, according to its most recent filing with the SEC. The firm bought 25,642 shares of the company's stock, valued at approximately $363,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Swiss National Bank grew its position in shares of NETSTREIT by 5.7% in the fourth quarter. Swiss National Bank now owns 152,200 shares of the company's stock valued at $2,154,000 after purchasing an additional 8,200 shares in the last quarter. Nordea Investment Management AB purchased a new position in shares of NETSTREIT in the fourth quarter valued at about $6,714,000. JPMorgan Chase & Co. raised its position in NETSTREIT by 173.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 569,527 shares of the company's stock valued at $9,414,000 after purchasing an additional 361,577 shares during the last quarter. Cohen & Steers Inc. increased its position in NETSTREIT by 3.0% during the 4th 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 during the period. Finally, Charles Schwab Investment Management Inc. lifted its holdings in NETSTREIT by 5.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,133,552 shares of the company's stock worth $16,040,000 after buying an additional 55,378 shares during the period.

NETSTREIT Stock Down 0.1 %

NYSE:NTST traded down $0.02 during midday trading on Thursday, hitting $15.99. 441,139 shares of the company were exchanged, compared to its average volume of 923,998. NETSTREIT Corp. has a fifty-two week low of $13.42 and a fifty-two week high of $18.10. The company has a current ratio of 4.11, a quick ratio of 4.11 and a debt-to-equity ratio of 0.57. The company has a market capitalization of $1.31 billion, a PE ratio of -266.37 and a beta of 0.90. The company has a fifty day simple moving average of $15.53 and a 200 day simple moving average of $15.12.

NETSTREIT Dividend Announcement

The firm 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. This represents a $0.84 dividend on an annualized basis and a yield of 5.25%. The ex-dividend date of this dividend is Monday, June 2nd. NETSTREIT's dividend payout ratio is presently -560.00%.

Analysts Set New Price Targets

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

Insiders Place Their Bets

In other news, CEO Mark Manheimer purchased 3,616 shares of the stock in a transaction dated Friday, March 7th. The stock was acquired at an average cost of $15.22 per share, for a total transaction of $55,035.52. Following the completion of the acquisition, the chief executive officer now directly owns 295,252 shares in the company, valued at $4,493,735.44. This represents a 1.24 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In the last ninety days, insiders have purchased 12,000 shares of company stock worth $183,172. Corporate insiders own 0.58% of the company's stock.

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.