Northern Trust Corp Raises Stake in NETSTREIT Corp. (NYSE:NTST)

Northern Trust Corp raised its stake in NETSTREIT Corp. (NYSE:NTST - Free Report) by 31.2% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 881,688 shares of the company's stock after buying an additional 209,475 shares during the period. Northern Trust Corp owned about 1.08% of NETSTREIT worth $12,476,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also added to or reduced their stakes in NTST. Susquehanna Fundamental Investments LLC bought a new stake in NETSTREIT during the 4th quarter valued at $908,000. T. Rowe Price Investment Management Inc. increased its stake 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 buying an additional 354,973 shares during the period. Price T Rowe Associates Inc. MD raised its holdings in shares of NETSTREIT by 17.9% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 30,436 shares of the company's stock valued at $431,000 after acquiring an additional 4,624 shares in the last quarter. Dark Forest Capital Management LP purchased a new stake in NETSTREIT in the fourth quarter worth about $693,000. Finally, Hsbc Holdings PLC lifted its stake in NETSTREIT by 31.1% in the fourth quarter. Hsbc Holdings PLC now owns 75,973 shares of the company's stock worth $1,073,000 after acquiring an additional 18,002 shares during the period.

Wall Street Analyst Weigh In

NTST has been the subject of several recent research reports. Capital One Financial assumed coverage on shares of NETSTREIT in a report on Wednesday, February 12th. They issued an "overweight" rating for the company. Wells Fargo & Company assumed coverage on shares of NETSTREIT in a research note on Monday, April 7th. They issued an "overweight" rating and a $18.00 price objective for the company. Finally, Mizuho increased their target price on NETSTREIT from $15.00 to $17.00 and gave the company an "outperform" rating in a research report on Thursday, April 3rd. One research analyst has rated the stock with a hold rating, six have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Buy" and an average price target of $18.03.

NETSTREIT Stock Up 0.3%

NTST traded up $0.04 during trading on Tuesday, hitting $15.93. The stock had a trading volume of 811,984 shares, compared to its average volume of 937,775. The stock has a 50 day simple moving average of $15.66 and a two-hundred day simple moving average of $15.11. The company has a debt-to-equity ratio of 0.57, a quick ratio of 4.11 and a current ratio of 4.11. NETSTREIT Corp. has a twelve month low of $13.42 and a twelve month high of $17.99. The company has a market capitalization of $1.30 billion, a PE ratio of -265.46 and a beta of 0.90.

NETSTREIT Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Monday, June 2nd will be paid a dividend of $0.21 per share. The ex-dividend date of this dividend is Monday, June 2nd. This represents a $0.84 annualized dividend and a yield of 5.27%. NETSTREIT's dividend payout ratio (DPR) is -560.00%.

Insider Activity at NETSTREIT

In related news, CEO Mark Manheimer purchased 3,616 shares of the firm's stock in a transaction on Friday, March 7th. The stock was acquired at an average price of $15.22 per share, with a total value of $55,035.52. Following the completion of the acquisition, the chief executive officer now owns 295,252 shares in the company, valued at approximately $4,493,735.44. This represents a 1.24% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Insiders have acquired 12,000 shares of company stock valued at $183,172 in the last ninety days. Corporate insiders own 0.58% of the company's stock.

NETSTREIT Company 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.