LPL Financial LLC Buys New Holdings in NETSTREIT Corp. (NYSE:NTST)

LPL Financial LLC acquired a new position in shares of NETSTREIT Corp. (NYSE:NTST - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 16,678 shares of the company's stock, valued at approximately $236,000.

Several other hedge funds also recently bought and sold shares of NTST. American Century Companies Inc. boosted its holdings in shares of NETSTREIT by 3.3% in the 4th quarter. American Century Companies Inc. now owns 24,400 shares of the company's stock valued at $345,000 after purchasing an additional 781 shares during the last quarter. Daiwa Securities Group Inc. grew its holdings in NETSTREIT by 3.1% during the 4th quarter. Daiwa Securities Group Inc. now owns 26,383 shares of the company's stock worth $373,000 after acquiring an additional 789 shares in the last quarter. Carmel Capital Partners LLC raised its stake in NETSTREIT by 4.7% during the fourth quarter. Carmel Capital Partners LLC now owns 26,180 shares of the company's stock worth $370,000 after acquiring an additional 1,174 shares during the period. Arizona State Retirement System lifted its position in NETSTREIT by 6.3% in the 4th quarter. Arizona State Retirement System now owns 22,456 shares of the company's stock valued at $318,000 after purchasing an additional 1,331 shares during the last quarter. Finally, Van ECK Associates Corp increased its holdings in shares of NETSTREIT by 10.2% during the fourth quarter. Van ECK Associates Corp now owns 14,729 shares of the company's stock valued at $208,000 after purchasing an additional 1,366 shares during the period.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. Capital One Financial assumed coverage on NETSTREIT in a report on Wednesday, February 12th. They set an "overweight" rating for the company. 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 research note on Friday, January 17th. Wells Fargo & Company initiated coverage on shares of NETSTREIT in a report on Monday, April 7th. They issued an "overweight" rating and a $18.00 price target for the company. Finally, Mizuho raised their target price on NETSTREIT from $15.00 to $17.00 and gave the stock an "outperform" rating in a report on Thursday, April 3rd. One equities 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 stock. Based on data from MarketBeat.com, the company presently has an average rating of "Buy" and a consensus target price of $18.03.

NETSTREIT Stock Down 0.7 %

Shares of NETSTREIT stock traded down $0.12 on Friday, hitting $16.03. The company had a trading volume of 477,131 shares, compared to its average volume of 920,818. NETSTREIT Corp. has a 1 year low of $13.42 and a 1 year high of $18.10. The stock has a 50 day moving average of $15.46 and a 200-day moving average of $15.13. 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 stock has a market capitalization of $1.31 billion, a price-to-earnings ratio of -267.12 and a beta of 0.91.

NETSTREIT Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Monday, June 2nd will be given a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 5.24%. The ex-dividend date is Monday, June 2nd. NETSTREIT's dividend payout ratio (DPR) is currently -525.00%.

Insider Activity

In related news, CEO Mark Manheimer bought 6,384 shares of the company'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 completion of the acquisition, the chief executive officer now owns 304,572 shares of the company's stock, valued at $4,669,088.76. This trade represents a 2.14 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In the last quarter, insiders purchased 12,000 shares of company stock valued at $183,172. 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.