Geode Capital Management LLC Has $28.63 Million Holdings in NETSTREIT Corp. (NYSE:NTST)

Geode Capital Management LLC raised its stake in NETSTREIT Corp. (NYSE:NTST - Free Report) by 2.1% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 2,022,772 shares of the company's stock after purchasing an additional 41,972 shares during the quarter. Geode Capital Management LLC owned 2.48% of NETSTREIT worth $28,628,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of NTST. PNC Financial Services Group Inc. grew its stake in NETSTREIT by 861.1% in the fourth quarter. PNC Financial Services Group Inc. now owns 5,430 shares of the company's stock worth $77,000 after purchasing an additional 4,865 shares during the period. Prudent Man Advisors LLC purchased a new stake in NETSTREIT in the fourth quarter worth $143,000. Envestnet Portfolio Solutions Inc. purchased a new stake in NETSTREIT in the fourth quarter worth $152,000. Sanctuary Advisors LLC purchased a new stake in NETSTREIT in the third quarter worth $169,000. Finally, Proficio Capital Partners LLC purchased a new stake in shares of NETSTREIT in the fourth quarter worth $179,000.

NETSTREIT Price Performance

NTST traded down $0.10 on Wednesday, hitting $16.35. 44,199 shares of the company were exchanged, compared to its average volume of 914,154. The company has a debt-to-equity ratio of 0.57, a quick ratio of 4.11 and a current ratio of 4.11. The business's fifty day moving average is $15.18 and its 200 day moving average is $15.11. NETSTREIT Corp. has a fifty-two week low of $13.42 and a fifty-two week high of $18.10. The firm has a market capitalization of $1.34 billion, a P/E ratio of -272.45 and a beta of 0.91.

NETSTREIT Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, March 14th were paid a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 5.14%. The ex-dividend date was Friday, March 14th. NETSTREIT's dividend payout ratio is currently -525.00%.

Insider Activity

In related news, CEO Mark Manheimer acquired 3,616 shares of the stock in a transaction that occurred on Friday, March 7th. The shares were acquired at an average price of $15.22 per share, for a total transaction of $55,035.52. Following the completion of the purchase, the chief executive officer now directly owns 295,252 shares of the company's stock, valued at $4,493,735.44. The trade was a 1.24 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. In the last 90 days, insiders have acquired 12,000 shares of company stock valued at $183,172. Company insiders own 0.58% of the company's stock.

Analyst Upgrades and Downgrades

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

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.