Marshall Wace LLP Decreases Stake in NETSTREIT Corp. (NYSE:NTST)

Marshall Wace LLP lessened its position in shares of NETSTREIT Corp. (NYSE:NTST) by 31.0% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 1,128,131 shares of the company’s stock after selling 506,242 shares during the quarter. Marshall Wace LLP’s holdings in NETSTREIT were worth $15,963,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Principal Financial Group Inc. boosted its position in shares of NETSTREIT by 46.4% during the 4th quarter. Principal Financial Group Inc. now owns 4,800,208 shares of the company’s stock valued at $67,924,000 after acquiring an additional 1,521,668 shares during the last quarter. Tributary Capital Management LLC bought a new position in NETSTREIT during the 4th quarter valued at about $12,633,000. Sumitomo Mitsui Trust Group Inc. raised its position in NETSTREIT by 36.7% in the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,207,703 shares of the company’s stock worth $31,239,000 after purchasing an additional 592,439 shares during the period. Nordea Investment Management AB bought a new stake in NETSTREIT in the fourth quarter worth about $6,714,000. Finally, Centersquare Investment Management LLC boosted its position in shares of NETSTREIT by 28.6% during the fourth quarter. Centersquare Investment Management LLC now owns 1,929,490 shares of the company’s stock valued at $27,302,000 after buying an additional 429,642 shares during the period.

NETSTREIT Stock Performance

NTST opened at $16.48 on Monday. NETSTREIT Corp. has a 1 year low of $13.42 and a 1 year high of $18.10. The company has a debt-to-equity ratio of 0.57, a current ratio of 4.11 and a quick ratio of 4.11. The stock has a market cap of $1.35 billion, a P/E ratio of -274.54 and a beta of 0.91. The firm has a fifty day moving average price of $15.08 and a 200 day moving average price of $15.10.

NETSTREIT Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, March 14th were issued a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 5.10%. The ex-dividend date was Friday, March 14th. NETSTREIT’s payout ratio is currently -525.00%.

Analysts Set New Price Targets

Several research firms have recently weighed in on NTST. Wells Fargo & Company began coverage on NETSTREIT in a research report on Monday, April 7th. They set an “overweight” rating and a $18.00 target price for the company. Capital One Financial initiated coverage on shares of NETSTREIT in a research report on Wednesday, February 12th. They issued an “overweight” rating on the stock. 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. Finally, Raymond James lowered 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 note on Friday, January 17th. 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’s stock. Based on data from MarketBeat.com, the company has an average rating of “Buy” and an average target price of $18.03.

Insider Activity

In other news, CEO Mark Manheimer acquired 6,384 shares of the stock in a transaction that occurred on Monday, March 10th. The shares were bought at an average cost of $15.33 per share, for a total transaction of $97,866.72. Following the acquisition, the chief executive officer now owns 304,572 shares in the company, valued at approximately $4,669,088.76. This represents a 2.14 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders acquired 12,000 shares of company stock worth $183,172 over the last three months. 0.58% of the stock is currently owned by corporate insiders.

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.