NETSTREIT (NYSE:NTST) CEO Mark Manheimer Acquires 5,600 Shares of Stock

NETSTREIT Corp. (NYSE:NTST) CEO Mark Manheimer purchased 5,600 shares of the business’s stock in a transaction dated Friday, September 5th. The shares were purchased at an average cost of $17.93 per share, with a total value of $100,408.00. Following the acquisition, the chief executive officer owned 316,378 shares in the company, valued at $5,672,657.54. This trade represents a 1.80% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link.

NETSTREIT Stock Performance

Shares of NYSE:NTST opened at $17.91 on Tuesday. NETSTREIT Corp. has a 1 year low of $13.42 and a 1 year high of $19.18. The stock has a market capitalization of $1.49 billion, a price-to-earnings ratio of -223.81, a price-to-earnings-growth ratio of 4.13 and a beta of 0.89. The company has a debt-to-equity ratio of 0.70, a current ratio of 3.83 and a quick ratio of 3.83. The company’s 50 day simple moving average is $18.06 and its 200 day simple moving average is $16.56.

NETSTREIT Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Tuesday, September 2nd will be paid a $0.215 dividend. This represents a $0.86 annualized dividend and a dividend yield of 4.8%. The ex-dividend date is Tuesday, September 2nd. This is a positive change from NETSTREIT’s previous quarterly dividend of $0.21. NETSTREIT’s dividend payout ratio is -1,075.00%.

Hedge Funds Weigh In On NETSTREIT

Several large investors have recently modified their holdings of the business. EverSource Wealth Advisors LLC grew its stake in shares of NETSTREIT by 1,123.3% in the second quarter. EverSource Wealth Advisors LLC now owns 1,786 shares of the company’s stock worth $30,000 after purchasing an additional 1,640 shares during the last quarter. Assetmark Inc. lifted its holdings in NETSTREIT by 126.3% during the 1st quarter. Assetmark Inc. now owns 2,150 shares of the company’s stock worth $34,000 after buying an additional 1,200 shares during the period. CWM LLC grew its position in shares of NETSTREIT by 78.2% in the 1st quarter. CWM LLC now owns 2,253 shares of the company’s stock valued at $36,000 after buying an additional 989 shares during the last quarter. Lazard Asset Management LLC acquired a new stake in shares of NETSTREIT in the fourth quarter valued at about $41,000. Finally, State of Wyoming bought a new position in shares of NETSTREIT during the first quarter worth about $58,000.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on NTST. Bank of America upgraded NETSTREIT from an “underperform” rating to a “neutral” rating and upped their price objective for the stock from $18.00 to $19.00 in a research report on Monday, July 28th. Truist Financial set a $19.00 price target on shares of NETSTREIT in a research note on Friday, July 25th. UBS Group lifted their price target on shares of NETSTREIT from $20.00 to $21.00 and gave the company a “buy” rating in a report on Friday, August 15th. Robert W. Baird increased their price objective on shares of NETSTREIT from $18.00 to $20.00 and gave the company an “outperform” rating in a research note on Thursday, July 24th. Finally, Wells Fargo & Company raised their target price on shares of NETSTREIT from $18.00 to $20.00 and gave the company an “overweight” rating in a research report on Wednesday, August 27th. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, NETSTREIT has an average rating of “Buy” and an average price target of $19.58.

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.