Insider Buying: NETSTREIT Corp. (NYSE:NTST) CEO Acquires 3,616 Shares of Stock

NETSTREIT Corp. (NYSE:NTST) CEO Mark Manheimer acquired 3,616 shares of the business’s stock in a transaction on Friday, March 7th. The shares were bought at an average cost of $15.22 per share, for a total transaction of $55,035.52. Following the acquisition, the chief executive officer now owns 295,252 shares of the company’s stock, valued at $4,493,735.44. This represents a 1.24 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

NETSTREIT Price Performance

NTST traded up $0.35 during midday trading on Monday, reaching $15.52. 85,278 shares of the company’s stock were exchanged, compared to its average volume of 817,365. NETSTREIT Corp. has a 1-year low of $13.42 and a 1-year high of $18.97. The stock has a market capitalization of $1.27 billion, a PE ratio of -259.31 and a beta of 0.99. 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 business’s 50-day moving average price is $14.32 and its 200 day moving average price is $15.37.

NETSTREIT Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be paid a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 5.41%. The ex-dividend date of this dividend is Friday, March 14th. NETSTREIT’s payout ratio is currently -525.00%.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. Raymond James cut their target price 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 issued an “overweight” rating for the company. Scotiabank raised shares of NETSTREIT from a “sector perform” rating to a “sector outperform” rating and upped their price target for the stock from $16.00 to $18.00 in a research note on Monday, November 11th. Mizuho cut their price target on shares of NETSTREIT from $17.00 to $15.00 and set an “outperform” rating for the company in a report on Wednesday, January 8th. Finally, Truist Financial decreased their price objective on shares of NETSTREIT from $20.00 to $19.00 and set a “buy” rating on the stock in a report on Thursday, December 5th. One investment analyst has rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, NETSTREIT has an average rating of “Buy” and a consensus target price of $17.75.

Institutional Investors Weigh In On NETSTREIT

A number of large investors have recently bought and sold shares of the stock. Vanguard Group Inc. lifted its position in shares of NETSTREIT by 3.0% in the fourth quarter. Vanguard Group Inc. now owns 7,959,793 shares of the company’s stock valued at $112,631,000 after acquiring an additional 234,695 shares in the last quarter. T. Rowe Price Investment Management Inc. raised its stake in NETSTREIT by 5.5% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 6,834,118 shares of the company’s stock valued at $96,703,000 after purchasing an additional 354,973 shares during the last quarter. Cohen & Steers Inc. lifted its holdings in NETSTREIT by 3.0% in the 4th quarter. Cohen & Steers Inc. now owns 6,663,409 shares of the company’s stock valued at $94,287,000 after purchasing an additional 191,846 shares in the last quarter. Principal Financial Group Inc. boosted its stake 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 worth $67,924,000 after purchasing an additional 1,521,668 shares during the last quarter. Finally, Lasalle Investment Management Securities LLC grew its holdings in shares of NETSTREIT by 30.8% during the fourth quarter. Lasalle Investment Management Securities LLC now owns 3,449,229 shares of the company’s stock worth $48,807,000 after buying an additional 811,632 shares in the last quarter.

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.