Sumitomo Mitsui Trust Holdings Inc. Acquires 6,428 Shares of NETSTREIT Corp. (NYSE:NTST)

Sumitomo Mitsui Trust Holdings Inc. boosted its stake in shares of NETSTREIT Corp. (NYSE:NTST) by 8.6% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 80,913 shares of the company’s stock after buying an additional 6,428 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc.’s holdings in NETSTREIT were worth $1,444,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its stake in NETSTREIT by 7.8% in the third quarter. Vanguard Group Inc. now owns 6,455,590 shares of the company’s stock valued at $100,578,000 after acquiring an additional 466,435 shares during the last quarter. Principal Financial Group Inc. raised its holdings in shares of NETSTREIT by 1.3% in the 3rd quarter. Principal Financial Group Inc. now owns 3,630,016 shares of the company’s stock worth $56,555,000 after purchasing an additional 48,117 shares during the period. Wellington Management Group LLP lifted its stake in NETSTREIT by 56.7% in the third quarter. Wellington Management Group LLP now owns 2,674,002 shares of the company’s stock valued at $41,661,000 after purchasing an additional 967,036 shares during the last quarter. American Century Companies Inc. grew its holdings in NETSTREIT by 16.5% during the third quarter. American Century Companies Inc. now owns 2,157,248 shares of the company’s stock valued at $33,610,000 after purchasing an additional 304,742 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its position in NETSTREIT by 81.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 849,677 shares of the company’s stock worth $13,238,000 after buying an additional 382,149 shares during the last quarter.

NETSTREIT Stock Down 1.0 %

Shares of NYSE NTST opened at $17.16 on Thursday. The company has a quick ratio of 3.25, a current ratio of 3.25 and a debt-to-equity ratio of 0.47. The company has a market cap of $1.26 billion, a P/E ratio of 155.97, a P/E/G ratio of 3.61 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 business has a 50-day simple moving average of $17.29 and a two-hundred day simple moving average of $16.84.

NETSTREIT Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Friday, March 15th were given a $0.205 dividend. The ex-dividend date was Thursday, March 14th. This represents a $0.82 dividend on an annualized basis and a dividend yield of 4.78%. NETSTREIT’s dividend payout ratio (DPR) is currently 745.52%.

Analyst Upgrades and Downgrades

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

NETSTREIT Company 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.