Aberdeen Group plc Raises Position in NETSTREIT Corp. $NTST

Aberdeen Group plc lifted its position in shares of NETSTREIT Corp. (NYSE:NTST) by 13.0% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 24,562 shares of the company’s stock after acquiring an additional 2,831 shares during the quarter. Aberdeen Group plc’s holdings in NETSTREIT were worth $416,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in NTST. Vanguard Group Inc. boosted its holdings in NETSTREIT by 4.0% in the 1st quarter. Vanguard Group Inc. now owns 8,275,681 shares of the company’s stock valued at $131,170,000 after purchasing an additional 315,888 shares in the last quarter. Principal Financial Group Inc. lifted its holdings in shares of NETSTREIT by 61.3% in the 1st quarter. Principal Financial Group Inc. now owns 7,741,808 shares of the company’s stock valued at $122,708,000 after buying an additional 2,941,600 shares during the period. Sumitomo Mitsui Trust Group Inc. boosted its stake in shares of NETSTREIT by 8.2% in the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,389,583 shares of the company’s stock valued at $37,875,000 after buying an additional 181,880 shares in the last quarter. Centersquare Investment Management LLC grew its holdings in NETSTREIT by 23.8% during the first quarter. Centersquare Investment Management LLC now owns 2,388,977 shares of the company’s stock worth $37,865,000 after acquiring an additional 459,487 shares during the period. Finally, Alliancebernstein L.P. grew its holdings in NETSTREIT by 4.8% during the first quarter. Alliancebernstein L.P. now owns 1,972,806 shares of the company’s stock worth $31,269,000 after acquiring an additional 90,148 shares during the period.

Insider Buying and Selling at NETSTREIT

In related news, CEO Mark Manheimer purchased 5,600 shares of the business’s stock in a transaction dated Friday, September 5th. The stock was bought at an average cost of $17.93 per share, with a total value of $100,408.00. Following the completion of the acquisition, the chief executive officer directly owned 316,378 shares in the company, valued at $5,672,657.54. The trade was a 1.80% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.58% of the stock is currently owned by company insiders.

Analyst Ratings Changes

NTST has been the topic of several research analyst reports. Raymond James Financial restated a “strong-buy” rating and set a $21.00 target price on shares of NETSTREIT in a research report on Wednesday, July 30th. Bank of America raised shares of NETSTREIT from an “underperform” rating to a “neutral” rating and boosted their price objective for the stock from $18.00 to $19.00 in a report on Monday, July 28th. Cantor Fitzgerald started coverage on shares of NETSTREIT in a research report on Wednesday, October 1st. They set an “overweight” rating and a $21.00 target price on the stock. Berenberg Bank began coverage on shares of NETSTREIT in a research report on Monday, October 13th. They set a “buy” rating and a $22.00 price target for the company. Finally, Robert W. Baird boosted their price target on NETSTREIT from $18.00 to $20.00 and gave the stock an “outperform” rating in a research note on Thursday, July 24th. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat.com, NETSTREIT has a consensus rating of “Moderate Buy” and a consensus price target of $20.20.

NETSTREIT Stock Up 0.1%

NTST stock opened at $19.04 on Friday. 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 $18.35 and its 200-day simple moving average is $17.18. NETSTREIT Corp. has a 12 month low of $13.42 and a 12 month high of $19.21. The firm has a market capitalization of $1.59 billion, a PE ratio of -238.00, a P/E/G ratio of 3.08 and a beta of 0.90.

NETSTREIT Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Tuesday, September 2nd were given a dividend of $0.215 per share. The ex-dividend date of this dividend was Tuesday, September 2nd. This is a positive change from NETSTREIT’s previous quarterly dividend of $0.21. This represents a $0.86 annualized dividend and a yield of 4.5%. NETSTREIT’s dividend payout ratio (DPR) is -1,075.00%.

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.