Vanguard Group Inc. Acquires 234,695 Shares of NETSTREIT Corp. (NYSE:NTST)

Vanguard Group Inc. boosted its holdings in NETSTREIT Corp. (NYSE:NTST) by 3.0% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 7,959,793 shares of the company’s stock after purchasing an additional 234,695 shares during the quarter. Vanguard Group Inc. owned 9.76% of NETSTREIT worth $112,631,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. The Manufacturers Life Insurance Company boosted its stake in shares of NETSTREIT by 5.5% in the third quarter. The Manufacturers Life Insurance Company now owns 38,137 shares of the company’s stock valued at $630,000 after buying an additional 2,001 shares during the period. Janus Henderson Group PLC raised its holdings in NETSTREIT by 56.5% in the 3rd quarter. Janus Henderson Group PLC now owns 43,800 shares of the company’s stock valued at $724,000 after acquiring an additional 15,821 shares in the last quarter. Stifel Financial Corp acquired a new position in NETSTREIT in the 3rd quarter valued at $480,000. State Street Corp lifted its position in shares of NETSTREIT by 2.9% during the 3rd quarter. State Street Corp now owns 3,104,081 shares of the company’s stock valued at $51,310,000 after acquiring an additional 87,669 shares during the period. Finally, Y Intercept Hong Kong Ltd acquired a new stake in shares of NETSTREIT during the 3rd quarter worth $457,000.

NETSTREIT Price Performance

Shares of NYSE:NTST opened at $14.63 on Wednesday. The firm has a 50 day simple moving average of $14.85 and a 200 day simple moving average of $15.14. The company has a market cap of $1.19 billion, a price-to-earnings ratio of -243.71 and a beta of 0.91. NETSTREIT Corp. has a one year low of $13.42 and a one year high of $18.10. The company has a debt-to-equity ratio of 0.57, a current ratio of 4.11 and a quick ratio of 4.11.

NETSTREIT Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Friday, March 14th were issued a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 5.74%. The ex-dividend date was Friday, March 14th. NETSTREIT’s dividend payout ratio (DPR) is -525.00%.

Insider Buying and Selling

In other NETSTREIT news, CEO Mark Manheimer acquired 3,616 shares of the company’s stock in a transaction that occurred on Friday, March 7th. The stock was acquired at an average price of $15.22 per share, for a total transaction of $55,035.52. Following the acquisition, the chief executive officer now directly owns 295,252 shares in the company, valued at $4,493,735.44. This represents a 1.24 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Insiders have bought 12,000 shares of company stock worth $183,172 in the last 90 days. Insiders own 0.46% of the company’s stock.

Wall Street Analysts Forecast Growth

NTST has been the subject of a number of analyst reports. Capital One Financial began coverage on NETSTREIT in a research note on Wednesday, February 12th. They issued an “overweight” rating for the company. Raymond James dropped their target price on shares of NETSTREIT from $19.00 to $17.00 and set a “strong-buy” rating for the company in a research report on Friday, January 17th. Wells Fargo & Company assumed coverage on shares of NETSTREIT in a research report on Monday. They set an “overweight” rating and a $18.00 price target on the stock. Finally, Mizuho boosted their price objective on shares of NETSTREIT from $15.00 to $17.00 and gave the company an “outperform” rating in a research report on Thursday, April 3rd. One research analyst has rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, NETSTREIT has an average rating of “Buy” and an average target price of $18.03.

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.