NETSTREIT Corp. (NYSE:NTST) Shares Sold by Lighthouse Investment Partners LLC

Lighthouse Investment Partners LLC trimmed its position in NETSTREIT Corp. (NYSE:NTST) by 36.4% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 700,000 shares of the company’s stock after selling 400,000 shares during the period. Lighthouse Investment Partners LLC owned 0.86% of NETSTREIT worth $9,905,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently made changes to their positions in the company. Barclays PLC grew its position in NETSTREIT by 216.9% during the 3rd quarter. Barclays PLC now owns 123,066 shares of the company’s stock worth $2,033,000 after purchasing an additional 84,226 shares during the period. JPMorgan Chase & Co. grew its position in NETSTREIT by 173.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 569,527 shares of the company’s stock worth $9,414,000 after purchasing an additional 361,577 shares during the period. SG Americas Securities LLC grew its position in NETSTREIT by 12.9% during the 4th quarter. SG Americas Securities LLC now owns 37,604 shares of the company’s stock worth $532,000 after purchasing an additional 4,284 shares during the period. Janney Montgomery Scott LLC acquired a new stake in NETSTREIT during the 4th quarter worth about $198,000. Finally, Presima Securities ULC acquired a new stake in NETSTREIT during the 4th quarter worth about $5,085,000.

NETSTREIT Trading Up 1.2%

NTST stock opened at $16.17 on Monday. The company has a current ratio of 4.11, a quick ratio of 4.11 and a debt-to-equity ratio of 0.57. NETSTREIT Corp. has a 12-month low of $13.42 and a 12-month high of $18.10. The stock has a market cap of $1.32 billion, a price-to-earnings ratio of -269.46 and a beta of 0.90. The business’s 50-day moving average is $15.57 and its 200 day moving average is $15.10.

NETSTREIT Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Monday, June 2nd will be issued a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 5.19%. The ex-dividend date is Monday, June 2nd. NETSTREIT’s payout ratio is -560.00%.

Insider Buying and Selling

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. In the last three months, insiders have bought 12,000 shares of company stock worth $183,172. Insiders own 0.58% of the company’s stock.

Wall Street Analysts Forecast Growth

NTST has been the topic of several analyst reports. Raymond James cut their price target on NETSTREIT from $19.00 to $17.00 and set a “strong-buy” rating on the stock in a research report on Friday, January 17th. Capital One Financial initiated coverage on NETSTREIT in a research report on Wednesday, February 12th. They set an “overweight” rating on the stock. Mizuho raised 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. Finally, Wells Fargo & Company initiated coverage on NETSTREIT in a research report on Monday, April 7th. They set an “overweight” rating and a $18.00 target price on the stock. One research analyst has rated the stock with a hold rating, six have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, NETSTREIT has an average rating of “Buy” and an average price target 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.