Northern Trust Corp Buys 209,475 Shares of NETSTREIT Corp. (NYSE:NTST)

Northern Trust Corp boosted its stake in shares of NETSTREIT Corp. (NYSE:NTST - Free Report) by 31.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 881,688 shares of the company's stock after purchasing an additional 209,475 shares during the period. Northern Trust Corp owned about 1.08% of NETSTREIT worth $12,476,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in NTST. PNC Financial Services Group Inc. raised its position in NETSTREIT by 861.1% in the fourth quarter. PNC Financial Services Group Inc. now owns 5,430 shares of the company's stock worth $77,000 after acquiring an additional 4,865 shares during the period. Prudent Man Advisors LLC bought a new position in NETSTREIT in the fourth quarter worth approximately $143,000. Mariner LLC bought a new position in NETSTREIT in the fourth quarter worth approximately $143,000. Envestnet Portfolio Solutions Inc. bought a new position in NETSTREIT in the fourth quarter worth approximately $152,000. Finally, Proficio Capital Partners LLC bought a new position in NETSTREIT in the fourth quarter worth approximately $179,000.

Insider Buying and Selling

In other news, CEO Mark Manheimer purchased 6,384 shares of the company's stock in a transaction that occurred on Monday, March 10th. The stock was purchased at an average cost of $15.33 per share, with a total value of $97,866.72. Following the purchase, the chief executive officer now owns 304,572 shares in the company, valued at approximately $4,669,088.76. This trade represents a 2.14% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In the last ninety days, insiders bought 12,000 shares of company stock valued at $183,172. Company insiders own 0.58% of the company's stock.

NETSTREIT Price Performance

Shares of NYSE:NTST traded down $0.11 on Thursday, reaching $15.48. The company's stock had a trading volume of 422,366 shares, compared to its average volume of 939,572. NETSTREIT Corp. has a 52-week low of $13.42 and a 52-week high of $17.75. The company has a market cap of $1.26 billion, a P/E ratio of -257.96 and a beta of 0.90. The company has a 50-day simple moving average of $15.68 and a 200 day simple moving average of $15.12. 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 Dividend Announcement

The company also recently declared 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 is Monday, June 2nd. This represents a $0.84 dividend on an annualized basis and a dividend yield of 5.43%. NETSTREIT's dividend payout ratio is presently -560.00%.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on NTST shares. Mizuho increased their price target on shares of NETSTREIT from $15.00 to $17.00 and gave the stock an "outperform" rating in a research report on Thursday, April 3rd. Wells Fargo & Company started coverage on shares of NETSTREIT in a research report on Monday, April 7th. They set an "overweight" rating and a $18.00 price objective on the stock. Finally, Capital One Financial started coverage on shares of NETSTREIT in a research report on Wednesday, February 12th. They set an "overweight" rating on the stock. One analyst has rated the stock with a hold rating, six have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of "Buy" and a consensus target price of $18.03.

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.