Rush Island Management LP cut its stake in NETSTREIT Corp. (NYSE:NTST - Free Report) by 84.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 370,640 shares of the company's stock after selling 1,994,324 shares during the quarter. NETSTREIT comprises about 0.3% of Rush Island Management LP's portfolio, making the stock its 14th biggest position. Rush Island Management LP owned approximately 0.45% of NETSTREIT worth $5,245,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors also recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its stake in shares of NETSTREIT by 3.0% in the fourth quarter. Vanguard Group Inc. now owns 7,959,793 shares of the company's stock worth $112,631,000 after buying an additional 234,695 shares during the last quarter. T. Rowe Price Investment Management Inc. raised its holdings in shares of NETSTREIT by 5.5% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 6,834,118 shares of the company's stock valued at $96,703,000 after acquiring an additional 354,973 shares during the last quarter. Cohen & Steers Inc. lifted its holdings in NETSTREIT by 3.0% in the 4th quarter. Cohen & Steers Inc. now owns 6,663,409 shares of the company's stock valued at $94,287,000 after purchasing an additional 191,846 shares in the last quarter. Principal Financial Group Inc. lifted 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 worth $67,924,000 after buying an additional 1,521,668 shares in the last quarter. Finally, Lasalle Investment Management Securities LLC boosted its holdings in shares of NETSTREIT by 30.8% during the 4th quarter. Lasalle Investment Management Securities LLC now owns 3,449,229 shares of the company's stock worth $48,807,000 after purchasing an additional 811,632 shares during the last quarter.
Analysts Set New Price Targets
Several analysts have recently weighed in on NTST shares. Mizuho increased their price target on shares of NETSTREIT from $15.00 to $17.00 and gave the company an "outperform" rating in a research note on Thursday, April 3rd. Wells Fargo & Company initiated coverage on NETSTREIT in a research report on Monday, April 7th. They issued an "overweight" rating and a $18.00 price objective for the company. Finally, Capital One Financial started coverage on NETSTREIT in a research note on Wednesday, February 12th. They set an "overweight" rating for the company. One investment analyst has rated the stock with a hold rating, six have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, NETSTREIT presently has a consensus rating of "Buy" and an average target price of $18.03.
Check Out Our Latest Report on NTST
NETSTREIT Price Performance
Shares of NYSE:NTST traded down $0.31 on Wednesday, reaching $15.63. 113,245 shares of the company were exchanged, compared to its average volume of 936,797. The company has a 50-day moving average of $15.68 and a 200-day moving average of $15.11. The company has a current ratio of 4.11, a quick ratio of 4.11 and a debt-to-equity ratio of 0.57. The firm has a market cap of $1.28 billion, a price-to-earnings ratio of -260.37 and a beta of 0.90. NETSTREIT Corp. has a 1-year low of $13.42 and a 1-year high of $17.99.
NETSTREIT Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Monday, June 2nd will be given a $0.21 dividend. The ex-dividend date of this dividend is Monday, June 2nd. This represents a $0.84 annualized dividend and a dividend yield of 5.37%. NETSTREIT's dividend payout ratio is presently -560.00%.
Insider Activity at NETSTREIT
In related news, CEO Mark Manheimer acquired 3,616 shares of the firm's stock in a transaction that occurred on Friday, March 7th. The shares were acquired at an average price of $15.22 per share, with a total value of $55,035.52. Following the completion of the purchase, the chief executive officer now directly owns 295,252 shares in the company, valued at approximately $4,493,735.44. The trade was a 1.24% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In the last three months, insiders have acquired 12,000 shares of company stock valued at $183,172. Insiders own 0.58% of the company's stock.
NETSTREIT Profile
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Free Report)
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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