NETSTREIT (NYSE:NTST) Sees Strong Trading Volume After Dividend Announcement

Key Points

• NETSTREIT Corp. announced a new dividend of $0.215 per share, with a payment date set for September 15th, resulting in an annualized yield of 4.76%.
• Analysts have raised their price targets for NETSTREIT, with UBS and Robert W. Baird setting new target prices of $20.00 and maintaining "buy" ratings.
• After the dividend announcement, NETSTREIT saw a trading volume of 953,821 shares, slightly down from 963,224 shares in the previous session.
• Hedge funds are increasingly acquiring NETSTREIT shares, with significant increases from firms like Assetmark Inc. and GAMMA Investing LLC during the first quarter.

NETSTREIT Corp. (NYSE:NTST - Get Free Report) saw strong trading volume on Friday after the company announced a dividend. 953,821 shares were traded during mid-day trading, a decline of 1% from the previous session's volume of 963,224 shares.The stock last traded at $18.10 and had previously closed at $17.99.The newly announced dividend which will be paid on Monday, September 15th. Investors of record on Tuesday, September 2nd will be issued a dividend of $0.215 per share. The ex-dividend date of this dividend is Tuesday, September 2nd. This represents a $0.86 dividend on an annualized basis and a yield of 4.76%. This is a boost from NETSTREIT's previous quarterly dividend of $0.21. NETSTREIT's payout ratio is presently -560.00%.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the company. UBS Group boosted their price objective on NETSTREIT from $18.00 to $20.00 and gave the company a "buy" rating in a report on Wednesday, July 16th. Wells Fargo & Company began coverage on NETSTREIT in a report on Monday, April 7th. They issued an "overweight" rating and a $18.00 target price for the company. Raymond James Financial reiterated a "strong-buy" rating on shares of NETSTREIT in a report on Friday, May 23rd. Robert W. Baird upped their target price on NETSTREIT from $18.00 to $20.00 and gave the stock an "outperform" rating in a report on Thursday. Finally, Mizuho increased 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. One analyst has rated the stock with a hold rating, seven have issued a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Buy" and an average target price of $18.47.

NETSTREIT Stock Up 0.4%

The company has a market cap of $1.48 billion, a PE ratio of -226.24, a P/E/G ratio of 5.20 and a beta of 0.89. The business has a 50-day simple moving average of $16.67 and a 200-day simple moving average of $15.60. The company has a quick ratio of 3.95, a current ratio of 3.95 and a debt-to-equity ratio of 0.69.

Hedge Funds Weigh In On NETSTREIT

Hedge funds have recently bought and sold shares of the business. Assetmark Inc. boosted its position in NETSTREIT by 126.3% during the first quarter. Assetmark Inc. now owns 2,150 shares of the company's stock worth $34,000 after purchasing an additional 1,200 shares in the last quarter. CWM LLC lifted its position 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 acquiring an additional 989 shares in the last quarter. Lazard Asset Management LLC purchased a new position in shares of NETSTREIT in the fourth quarter valued at approximately $41,000. State of Wyoming purchased a new position in shares of NETSTREIT in the first quarter valued at approximately $58,000. Finally, GAMMA Investing LLC lifted its position in shares of NETSTREIT by 2,779.7% in the first quarter. GAMMA Investing LLC now owns 7,228 shares of the company's stock valued at $115,000 after acquiring an additional 6,977 shares in the last quarter.

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.

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