American Century Companies Inc. Grows Position in NETSTREIT Corp. (NYSE:NTST)

American Century Companies Inc. raised its stake in NETSTREIT Corp. (NYSE:NTST) by 3.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 24,400 shares of the company’s stock after purchasing an additional 781 shares during the quarter. American Century Companies Inc.’s holdings in NETSTREIT were worth $345,000 at the end of the most recent quarter.

Several other institutional investors also recently made changes to their positions in the stock. PNC Financial Services Group Inc. raised its holdings in NETSTREIT by 861.1% in the fourth quarter. PNC Financial Services Group Inc. now owns 5,430 shares of the company’s stock valued at $77,000 after buying an additional 4,865 shares during the period. Prudent Man Advisors LLC purchased a new stake in NETSTREIT during the 4th quarter worth $143,000. Sanctuary Advisors LLC purchased a new stake in NETSTREIT during the 3rd quarter worth $169,000. Envestnet Portfolio Solutions Inc. purchased a new position in NETSTREIT in the fourth quarter valued at about $152,000. Finally, Proficio Capital Partners LLC purchased a new position in NETSTREIT in the fourth quarter valued at about $179,000.

Insider Activity at NETSTREIT

In other news, CEO Mark Manheimer bought 3,616 shares of the firm’s stock in a transaction dated Friday, March 7th. The stock was bought at an average price of $15.22 per share, for a total transaction of $55,035.52. Following the transaction, the chief executive officer now owns 295,252 shares in the company, valued at $4,493,735.44. The trade was a 1.24 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Insiders bought a total of 12,000 shares of company stock valued at $183,172 over the last three months. 0.46% of the stock is owned by insiders.

Analyst Ratings Changes

NTST has been the subject of a number of recent research reports. Mizuho increased their target price on NETSTREIT from $15.00 to $17.00 and gave the company an “outperform” rating in a research note on Thursday, April 3rd. Raymond James dropped their price objective on shares of NETSTREIT from $19.00 to $17.00 and set a “strong-buy” rating on the stock in a research note on Friday, January 17th. Capital One Financial started coverage on shares of NETSTREIT in a research note on Wednesday, February 12th. They issued an “overweight” rating for the company. Finally, Wells Fargo & Company started coverage on shares of NETSTREIT in a research note on Monday, April 7th. They set an “overweight” rating and a $18.00 price target on the stock. One investment analyst has rated the stock with a hold rating, six have given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $18.03.

NETSTREIT Trading Up 2.8 %

NYSE NTST opened at $15.49 on Monday. The company has a market capitalization of $1.27 billion, a price-to-earnings ratio of -258.04 and a beta of 0.91. 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 Corp. has a 12 month low of $13.42 and a 12 month high of $18.10. The company’s fifty day moving average price is $14.90 and its two-hundred day moving average price is $15.10.

NETSTREIT Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Friday, March 14th were paid a $0.21 dividend. The ex-dividend date of this dividend was Friday, March 14th. This represents a $0.84 dividend on an annualized basis and a yield of 5.42%. NETSTREIT’s dividend payout ratio (DPR) is -525.00%.

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.