NETSTREIT (NYSE:NTST) CEO Mark Manheimer Acquires 5,600 Shares

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 bought 5,600 shares of the business's stock in a transaction on Friday, September 5th. The stock was purchased at an average price of $17.93 per share, for a total transaction of $100,408.00. Following the purchase, 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 purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink.

NETSTREIT Stock Up 0.2%

NYSE NTST traded up $0.04 during trading on Monday, hitting $18.01. The stock had a trading volume of 166,141 shares, compared to its average volume of 1,021,908. The company has a market capitalization of $1.50 billion, a PE ratio of -225.06, a P/E/G ratio of 4.13 and a beta of 0.89. The company's 50-day moving average price is $18.04 and its two-hundred day moving average price is $16.53. The company has a debt-to-equity ratio of 0.70, a quick ratio of 3.83 and a current ratio of 3.83. NETSTREIT Corp. has a 12 month low of $13.42 and a 12 month high of $19.18.

NETSTREIT Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Tuesday, September 2nd will be paid a $0.215 dividend. This is a boost from NETSTREIT's previous quarterly dividend of $0.21. The ex-dividend date is Tuesday, September 2nd. This represents a $0.86 dividend on an annualized basis and a yield of 4.8%. NETSTREIT's dividend payout ratio (DPR) is currently -1,075.00%.

Analysts Set New Price Targets

A number of brokerages have commented on NTST. Truist Financial set a $19.00 price objective on NETSTREIT in a report on Friday, July 25th. Robert W. Baird raised their target price on NETSTREIT from $18.00 to $20.00 and gave the stock an "outperform" rating in a research note on Thursday, July 24th. Bank of America raised NETSTREIT from an "underperform" rating to a "neutral" rating and lifted their target price for the company from $18.00 to $19.00 in a research report on Monday, July 28th. Wells Fargo & Company boosted their target price on NETSTREIT from $18.00 to $20.00 and gave the company an "overweight" rating in a research note on Wednesday, August 27th. Finally, Raymond James Financial reiterated a "strong-buy" rating and issued a $21.00 price objective on shares of NETSTREIT in a report on Wednesday, July 30th. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Buy" and an average target price of $19.58.

Hedge Funds Weigh In On NETSTREIT

A number of institutional investors and hedge funds have recently modified their holdings of NTST. Wedge Capital Management L L P NC purchased a new position in NETSTREIT during the first quarter valued at $2,389,000. Vanguard Group Inc. raised its holdings in NETSTREIT by 4.0% during the first quarter. Vanguard Group Inc. now owns 8,275,681 shares of the company's stock valued at $131,170,000 after acquiring an additional 315,888 shares during the period. DigitalBridge Group Inc. raised its holdings in NETSTREIT by 1,175.4% during the fourth quarter. DigitalBridge Group Inc. now owns 953,968 shares of the company's stock valued at $13,499,000 after acquiring an additional 879,168 shares during the period. New Age Alpha Advisors LLC raised its holdings in NETSTREIT by 173.5% during the first quarter. New Age Alpha Advisors LLC now owns 170,667 shares of the company's stock valued at $2,705,000 after acquiring an additional 108,274 shares during the period. Finally, Swiss National Bank raised its holdings in NETSTREIT by 3.9% during the first quarter. Swiss National Bank now owns 158,100 shares of the company's stock valued at $2,506,000 after acquiring an additional 5,900 shares during the period.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.