NETSTREIT (NYSE:NTST) CEO Acquires $100,408.00 in Stock

Key Points

• CEO Mark Manheimer of NETSTREIT acquired 5,600 shares of the company at an average price of $17.93 per share, increasing his total holdings to 316,378 shares.
• NETSTREIT recently increased its quarterly dividend from $0.21 to $0.215, representing an annualized yield of 4.8%.
• Brokerages have raised price targets for NETSTREIT stock, with Raymond James setting a price objective of $21.00, while the average target now sits at $19.58.

NETSTREIT Corp. (NYSE:NTST - Get Free Report) CEO Mark Manheimer acquired 5,600 shares of the stock in a transaction on Friday, September 5th. The stock was bought at an average price of $17.93 per share, with a total value of $100,408.00. Following the transaction, the chief executive officer directly owned 316,378 shares in the company, valued at approximately $5,672,657.54. This represents a 1.80% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

NETSTREIT Price Performance

NTST traded down $0.01 during midday trading on Friday, hitting $18.25. The company had a trading volume of 569,581 shares, compared to its average volume of 990,624. The company has a debt-to-equity ratio of 0.70, a quick ratio of 3.83 and a current ratio of 3.83. The company has a market capitalization of $1.52 billion, a PE ratio of -228.06, a P/E/G ratio of 4.19 and a beta of 0.89. NETSTREIT Corp. has a twelve month low of $13.42 and a twelve month high of $19.18. The firm's 50-day simple moving average is $18.16 and its 200-day simple moving average is $16.63.

NETSTREIT Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Tuesday, September 2nd will be given a dividend of $0.215 per share. The ex-dividend date is Tuesday, September 2nd. This represents a $0.86 annualized dividend and a dividend yield of 4.7%. This is a positive change from NETSTREIT's previous quarterly dividend of $0.21. NETSTREIT's dividend payout ratio is presently -1,075.00%.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on NTST. Mizuho lifted their price target on shares of NETSTREIT from $17.00 to $20.00 and gave the stock an "outperform" rating in a research report on Thursday. Scotiabank restated an "outperform" rating on shares of NETSTREIT in a report on Wednesday, August 27th. Truist Financial set a $19.00 price objective on shares of NETSTREIT in a report on Friday, July 25th. Robert W. Baird boosted their price objective on shares of NETSTREIT from $18.00 to $20.00 and gave the company an "outperform" rating in a report on Thursday, July 24th. Finally, Bank of America upgraded shares of NETSTREIT from an "underperform" rating to a "neutral" rating and boosted their price objective for the company from $18.00 to $19.00 in a report on Monday, July 28th. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Buy" and an average target price of $19.92.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. EverSource Wealth Advisors LLC boosted its holdings in shares of NETSTREIT by 1,123.3% in the second quarter. EverSource Wealth Advisors LLC now owns 1,786 shares of the company's stock valued at $30,000 after buying an additional 1,640 shares during the period. Assetmark Inc. boosted its holdings in shares of NETSTREIT by 126.3% in the first quarter. Assetmark Inc. now owns 2,150 shares of the company's stock valued at $34,000 after buying an additional 1,200 shares during the period. CWM LLC boosted its holdings in shares of NETSTREIT by 78.2% in the first quarter. CWM LLC now owns 2,253 shares of the company's stock valued at $36,000 after buying an additional 989 shares during the period. Lazard Asset Management LLC acquired a new position in shares of NETSTREIT in the fourth quarter valued at approximately $41,000. Finally, State of Wyoming acquired a new position in shares of NETSTREIT in the first quarter valued at approximately $58,000.

About NETSTREIT

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.