Raymond James Financial Inc. Acquires New Position in NETSTREIT Corp. (NYSE:NTST)

Raymond James Financial Inc. purchased a new position in NETSTREIT Corp. (NYSE:NTST - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 65,530 shares of the company's stock, valued at approximately $927,000. Raymond James Financial Inc. owned 0.08% of NETSTREIT at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. PNC Financial Services Group Inc. grew its stake in NETSTREIT by 861.1% during the fourth quarter. PNC Financial Services Group Inc. now owns 5,430 shares of the company's stock valued at $77,000 after acquiring an additional 4,865 shares in the last quarter. Prudent Man Advisors LLC bought a new position in shares of NETSTREIT during the 4th quarter valued at about $143,000. Envestnet Portfolio Solutions Inc. purchased a new position in shares of NETSTREIT during the fourth quarter valued at about $152,000. Proficio Capital Partners LLC bought a new stake in shares of NETSTREIT in the fourth quarter worth about $179,000. Finally, Custom Index Systems LLC lifted its position in shares of NETSTREIT by 30.1% in 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 in the last quarter.

Insider Buying and Selling

In other NETSTREIT news, CEO Mark Manheimer bought 6,384 shares of the business's stock in a transaction dated Monday, March 10th. The shares were purchased at an average price of $15.33 per share, with a total value of $97,866.72. Following the completion of the purchase, the chief executive officer now owns 304,572 shares in the company, valued at $4,669,088.76. This represents a 2.14 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders have bought 12,000 shares of company stock valued at $183,172 in the last ninety days. 0.58% of the stock is owned by company insiders.

NETSTREIT Trading Up 1.2 %

NTST stock traded up $0.19 during mid-day trading on Friday, reaching $16.17. 861,590 shares of the stock traded hands, compared to its average volume of 926,113. NETSTREIT Corp. has a one year low of $13.42 and a one year high of $18.10. The stock has a market capitalization of $1.32 billion, a PE ratio of -269.46 and a beta of 0.90. The company has a debt-to-equity ratio of 0.57, a quick ratio of 4.11 and a current ratio of 4.11. The business has a 50-day moving average price of $15.57 and a two-hundred day moving average price of $15.12.

NETSTREIT Announces Dividend

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 issued 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 5.19%. NETSTREIT's payout ratio is -560.00%.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on NTST shares. Raymond James cut their price target on NETSTREIT from $19.00 to $17.00 and set a "strong-buy" rating for the company in a report on Friday, January 17th. Capital One Financial began 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 set an "overweight" rating and a $18.00 price target on the stock. Finally, Mizuho lifted their price objective on shares of NETSTREIT from $15.00 to $17.00 and gave the stock an "outperform" rating in a research note on Thursday, April 3rd. One equities 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's stock. According to MarketBeat.com, the company presently has an average rating of "Buy" and a consensus target price of $18.03.

NETSTREIT 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.