Legal & General Group Plc Cuts Stock Position in NETSTREIT Corp. (NYSE:NTST)

Legal & General Group Plc decreased its position in NETSTREIT Corp. (NYSE:NTST - Free Report) by 12.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 372,294 shares of the company's stock after selling 52,166 shares during the quarter. Legal & General Group Plc owned approximately 0.46% of NETSTREIT worth $5,268,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Russell Investments Group Ltd. increased its stake in shares of NETSTREIT by 5.8% in the 4th quarter. Russell Investments Group Ltd. now owns 1,908,522 shares of the company's stock worth $27,006,000 after acquiring an additional 105,021 shares in the last quarter. Envestnet Asset Management Inc. increased its stake in shares of NETSTREIT by 520.3% during the fourth 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 in the last quarter. Wells Fargo & Company MN lifted its holdings in shares of NETSTREIT by 37.4% during the fourth quarter. Wells Fargo & Company MN now owns 178,146 shares of the company's stock valued at $2,521,000 after purchasing an additional 48,521 shares during the last quarter. Resona Asset Management Co. Ltd. bought a new stake in shares of NETSTREIT in the 4th quarter worth approximately $452,000. Finally, Centersquare Investment Management LLC grew its stake in shares of NETSTREIT by 28.6% in the 4th quarter. Centersquare Investment Management LLC now owns 1,929,490 shares of the company's stock worth $27,302,000 after buying an additional 429,642 shares during the last quarter.

Analysts Set New Price Targets

A number of brokerages recently issued reports on NTST. 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 research note on Friday, January 17th. Capital One Financial began coverage on shares of NETSTREIT in a report on Wednesday, February 12th. They issued an "overweight" rating on the stock. Wells Fargo & Company assumed coverage on shares of NETSTREIT in a research note on Monday, April 7th. They set an "overweight" rating and a $18.00 target price for the company. Finally, Mizuho raised their price target on NETSTREIT from $15.00 to $17.00 and gave the stock an "outperform" rating in a research note on Thursday, April 3rd. One investment analyst has rated the stock with a hold rating, six have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Buy" and an average target price of $18.03.

Insider Activity

In other news, CEO Mark Manheimer bought 6,384 shares of NETSTREIT stock in a transaction that occurred on Monday, March 10th. The stock was bought at an average cost of $15.33 per share, with a total value of $97,866.72. Following the acquisition, the chief executive officer now owns 304,572 shares of the company's stock, valued at $4,669,088.76. The trade was a 2.14 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders have purchased a total of 12,000 shares of company stock valued at $183,172 in the last ninety days. Corporate insiders own 0.58% of the company's stock.

NETSTREIT Stock Performance

Shares of NYSE:NTST traded down $0.08 during midday trading on Friday, hitting $15.52. The company had a trading volume of 106,956 shares, compared to its average volume of 916,284. NETSTREIT Corp. has a 12-month low of $13.42 and a 12-month high of $18.10. The company has a fifty day moving average of $15.25 and a two-hundred day moving average of $15.12. The company has a market cap of $1.27 billion, a price-to-earnings ratio of -258.54 and a beta of 0.91. 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 business also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Friday, March 14th were paid a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 5.41%. The ex-dividend date was Friday, March 14th. NETSTREIT's dividend payout ratio (DPR) is currently -525.00%.

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.