Raymond James Financial Inc. Makes New $927,000 Investment in NETSTREIT Corp. (NYSE:NTST)

Raymond James Financial Inc. bought a new position in shares of NETSTREIT Corp. (NYSE:NTST - Free Report) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm bought 65,530 shares of the company's stock, valued at approximately $927,000. Raymond James Financial Inc. owned 0.08% of NETSTREIT as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of the stock. PNC Financial Services Group Inc. raised its holdings in shares of NETSTREIT by 861.1% in the fourth quarter. PNC Financial Services Group Inc. now owns 5,430 shares of the company's stock valued at $77,000 after purchasing an additional 4,865 shares during the last quarter. Prudent Man Advisors LLC acquired a new position in NETSTREIT during the fourth quarter worth $143,000. Envestnet Portfolio Solutions Inc. acquired a new position in NETSTREIT during the fourth quarter worth $152,000. Proficio Capital Partners LLC acquired a new position in NETSTREIT during the fourth quarter worth $179,000. Finally, Custom Index Systems LLC increased its holdings in NETSTREIT by 30.1% during the fourth quarter. Custom Index Systems LLC now owns 13,363 shares of the company's stock worth $189,000 after buying an additional 3,090 shares during the last quarter.

NETSTREIT Stock Up 1.2%

NYSE NTST traded up $0.19 on Friday, reaching $16.17. The company had a trading volume of 861,590 shares, compared to its average volume of 927,636. The stock has a market capitalization of $1.32 billion, a P/E ratio of -269.46 and a beta of 0.90. The company's fifty day moving average is $15.57 and its 200 day moving average is $15.10. NETSTREIT Corp. has a 52-week low of $13.42 and a 52-week high of $18.10. The company has a quick ratio of 4.11, a current ratio of 4.11 and a debt-to-equity ratio of 0.57.

NETSTREIT Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Monday, June 2nd will be given a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 5.19%. The ex-dividend date is Monday, June 2nd. NETSTREIT's dividend payout ratio is presently -560.00%.

Analyst Ratings Changes

A number of equities analysts recently weighed in on NTST shares. Mizuho boosted their target price on shares of NETSTREIT from $15.00 to $17.00 and gave the stock an "outperform" rating in a report on Thursday, April 3rd. Wells Fargo & Company assumed coverage on shares of NETSTREIT in a research report on Monday, April 7th. They set an "overweight" rating and a $18.00 price objective for the company. Raymond James reduced their price objective on shares of NETSTREIT from $19.00 to $17.00 and set a "strong-buy" rating for the company in a research report on Friday, January 17th. Finally, Capital One Financial assumed coverage on shares of NETSTREIT in a research report on Wednesday, February 12th. They set an "overweight" rating for the company. One research 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 company. According to data from MarketBeat.com, NETSTREIT presently has a consensus rating of "Buy" and a consensus price target of $18.03.

Insider Activity

In other NETSTREIT news, CEO Mark Manheimer bought 3,616 shares of the firm's stock in a transaction dated Friday, March 7th. The stock was purchased at an average cost of $15.22 per share, with a total value of $55,035.52. Following the transaction, the chief executive officer now directly owns 295,252 shares in the company, valued at $4,493,735.44. This trade represents a 1.24% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders acquired a total of 12,000 shares of company stock valued at $183,172 in the last ninety days. 0.58% of the stock is currently owned by insiders.

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.