Lighthouse Investment Partners LLC Sells 400,000 Shares of NETSTREIT Corp. (NYSE:NTST)

Lighthouse Investment Partners LLC trimmed its holdings in shares of NETSTREIT Corp. (NYSE:NTST - Free Report) by 36.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 700,000 shares of the company's stock after selling 400,000 shares during the quarter. Lighthouse Investment Partners LLC owned about 0.86% of NETSTREIT worth $9,905,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. American Century Companies Inc. increased its position in shares of NETSTREIT by 3.3% in the fourth quarter. American Century Companies Inc. now owns 24,400 shares of the company's stock worth $345,000 after purchasing an additional 781 shares during the period. Daiwa Securities Group Inc. grew its stake in NETSTREIT by 3.1% during the fourth quarter. Daiwa Securities Group Inc. now owns 26,383 shares of the company's stock worth $373,000 after buying an additional 789 shares in the last quarter. Carmel Capital Partners LLC increased its holdings in NETSTREIT by 4.7% in the 4th quarter. Carmel Capital Partners LLC now owns 26,180 shares of the company's stock valued at $370,000 after buying an additional 1,174 shares during the period. Corton Capital Inc. raised its position in shares of NETSTREIT by 7.7% in the 4th quarter. Corton Capital Inc. now owns 18,313 shares of the company's stock valued at $259,000 after buying an additional 1,305 shares in the last quarter. Finally, Arizona State Retirement System raised its position in shares of 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 buying an additional 1,331 shares in the last quarter.

NETSTREIT Price Performance

Shares of NYSE NTST traded up $0.26 during mid-day trading on Thursday, hitting $15.71. 532,528 shares of the stock traded hands, compared to its average volume of 933,405. The company has a market cap of $1.28 billion, a PE ratio of -261.79 and a beta of 0.90. NETSTREIT Corp. has a twelve month low of $13.42 and a twelve month high of $18.10. The company has a debt-to-equity ratio of 0.57, a current ratio of 4.11 and a quick ratio of 4.11. The firm has a 50 day simple moving average of $15.61 and a two-hundred day simple moving average of $15.11.

NETSTREIT Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Monday, June 2nd will be paid a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 5.35%. The ex-dividend date is Monday, June 2nd. NETSTREIT's payout ratio is -560.00%.

Insider Transactions at NETSTREIT

In other NETSTREIT news, CEO Mark Manheimer acquired 6,384 shares of the company's stock in a transaction that occurred on Monday, March 10th. The stock was acquired at an average price of $15.33 per share, for a total transaction of $97,866.72. Following the acquisition, the chief executive officer now directly owns 304,572 shares in the company, valued at $4,669,088.76. This represents a 2.14% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Over the last three months, insiders have bought 12,000 shares of company stock worth $183,172. Insiders own 0.58% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. Wells Fargo & Company initiated coverage on shares of NETSTREIT in a research note on Monday, April 7th. They issued an "overweight" rating and a $18.00 price objective on the stock. Mizuho lifted their price target on NETSTREIT from $15.00 to $17.00 and gave the company an "outperform" rating in a research note on Thursday, April 3rd. Raymond James lowered their price target on NETSTREIT from $19.00 to $17.00 and set a "strong-buy" rating for the company in a report on Friday, January 17th. Finally, Capital One Financial initiated coverage on NETSTREIT in a research note on Wednesday, February 12th. They issued an "overweight" rating on the stock. One 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 company. Based on data from MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus target price of $18.03.

NETSTREIT 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.