Strs Ohio Increases Stake in NETSTREIT Corp. (NYSE:NTST)

Strs Ohio grew its stake in NETSTREIT Corp. (NYSE:NTST) by 36.6% during the 4th quarter, HoldingsChannel reports. The firm owned 89,129 shares of the company’s stock after buying an additional 23,900 shares during the quarter. Strs Ohio’s holdings in NETSTREIT were worth $1,590,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in NTST. Sumitomo Mitsui Trust Holdings Inc. boosted its holdings in NETSTREIT by 8.6% during the fourth quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 80,913 shares of the company’s stock worth $1,444,000 after buying an additional 6,428 shares in the last quarter. Asset Management One Co. Ltd. boosted its stake in shares of NETSTREIT by 25.8% during the 4th quarter. Asset Management One Co. Ltd. now owns 215,182 shares of the company’s stock worth $3,878,000 after acquiring an additional 44,145 shares in the last quarter. Arizona State Retirement System grew its position in shares of NETSTREIT by 8.1% during the 4th quarter. Arizona State Retirement System now owns 18,728 shares of the company’s stock valued at $334,000 after acquiring an additional 1,399 shares during the period. State of Alaska Department of Revenue increased its stake in shares of NETSTREIT by 1.9% in the 4th quarter. State of Alaska Department of Revenue now owns 32,512 shares of the company’s stock valued at $579,000 after purchasing an additional 608 shares in the last quarter. Finally, SG Americas Securities LLC raised its holdings in NETSTREIT by 25.0% in the 4th quarter. SG Americas Securities LLC now owns 42,428 shares of the company’s stock worth $757,000 after purchasing an additional 8,494 shares during the period.

NETSTREIT Price Performance

Shares of NYSE NTST opened at $17.06 on Monday. The stock has a market capitalization of $1.25 billion, a price-to-earnings ratio of 155.11, a price-to-earnings-growth ratio of 3.55 and a beta of 0.97. NETSTREIT Corp. has a 52 week low of $13.49 and a 52 week high of $18.97. The firm has a 50-day simple moving average of $17.28 and a 200-day simple moving average of $16.81. The company has a quick ratio of 3.25, a current ratio of 3.25 and a debt-to-equity ratio of 0.47.

NETSTREIT Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Friday, March 15th were issued a dividend of $0.205 per share. This represents a $0.82 annualized dividend and a dividend yield of 4.81%. The ex-dividend date was Thursday, March 14th. NETSTREIT’s dividend payout ratio is currently 745.52%.

Analyst Upgrades and Downgrades

Several analysts have commented on NTST shares. Mizuho raised their price objective on NETSTREIT from $18.00 to $19.00 and gave the company a “buy” rating in a report on Thursday, March 7th. Wolfe Research raised shares of NETSTREIT from a “peer perform” rating to an “outperform” rating and set a $22.00 price target on the stock in a research note on Tuesday, January 2nd. Finally, KeyCorp upgraded shares of NETSTREIT from an “underweight” rating to a “sector weight” rating in a research report on Thursday, February 1st. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $18.11.

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.