NETSTREIT Corp. (NYSE:NTST) Shares Acquired by Hudson Bay Capital Management LP

Hudson Bay Capital Management LP lifted its position in NETSTREIT Corp. (NYSE:NTST - Free Report) by 195.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,338,746 shares of the company's stock after buying an additional 886,283 shares during the quarter. Hudson Bay Capital Management LP owned approximately 1.64% of NETSTREIT worth $18,943,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of NTST. Principal Financial Group Inc. boosted its stake in shares of NETSTREIT by 46.4% in the fourth quarter. Principal Financial Group Inc. now owns 4,800,208 shares of the company's stock valued at $67,924,000 after purchasing an additional 1,521,668 shares during the period. Tributary Capital Management LLC acquired a new position in shares of NETSTREIT in the fourth quarter worth $12,633,000. DigitalBridge Group Inc. increased its position in shares of NETSTREIT by 1,175.4% during the fourth quarter. DigitalBridge Group Inc. now owns 953,968 shares of the company's stock worth $13,499,000 after acquiring an additional 879,168 shares during the period. 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 valued at $48,807,000 after purchasing an additional 811,632 shares during the period. Finally, Deprince Race & Zollo Inc. grew its stake in NETSTREIT by 30.9% during the 4th quarter. Deprince Race & Zollo Inc. now owns 3,044,157 shares of the company's stock worth $43,075,000 after purchasing an additional 718,193 shares in the last quarter.

Insider Activity at NETSTREIT

In other news, CEO Mark Manheimer acquired 3,616 shares of the firm's stock in a transaction dated Friday, March 7th. The stock was acquired at an average cost of $15.22 per share, with a total value of $55,035.52. Following the completion of the acquisition, the chief executive officer now 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 acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders bought a total of 12,000 shares of company stock valued at $183,172 in the last three months. 0.58% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the company. Mizuho increased their price target on NETSTREIT from $15.00 to $17.00 and gave the company an "outperform" rating in a research report on Thursday, April 3rd. Capital One Financial started coverage on shares of NETSTREIT in a research note on Wednesday, February 12th. They issued an "overweight" rating for the company. 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 objective on the stock. Finally, Raymond James decreased 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 report on Friday, January 17th. One investment analyst has rated the stock with a hold rating, six have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Buy" and a consensus price target of $18.03.

NETSTREIT Price Performance

Shares of NYSE:NTST opened at $16.17 on Friday. 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 Corp. has a 12 month low of $13.42 and a 12 month high of $18.10. The firm has a market capitalization of $1.32 billion, a P/E ratio of -269.46 and a beta of 0.90. The company's fifty day moving average price is $15.57 and its 200 day moving average price is $15.11.

NETSTREIT Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Monday, June 2nd will be issued a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 5.19%. The ex-dividend date of this dividend is Monday, June 2nd. NETSTREIT's payout ratio is currently -560.00%.

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.

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