JPMorgan Chase & Co. Grows Stock Holdings in NETSTREIT Corp. (NYSE:NTST)

JPMorgan Chase & Co. grew its holdings in shares of NETSTREIT Corp. (NYSE:NTST) by 37.5% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 782,976 shares of the company’s stock after purchasing an additional 213,449 shares during the quarter. JPMorgan Chase & Co. owned approximately 0.96% of NETSTREIT worth $11,079,000 at the end of the most recent quarter.

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

NETSTREIT Price Performance

Shares of NTST stock opened at $15.98 on Tuesday. The firm has a fifty day simple moving average of $14.93 and a 200-day simple moving average of $15.10. The company has a market capitalization of $1.31 billion, a PE ratio of -266.29 and a beta of 0.91. NETSTREIT Corp. has a twelve month low of $13.42 and a twelve month high of $18.10. The company has a current ratio of 4.11, a quick ratio of 4.11 and a debt-to-equity ratio of 0.57.

NETSTREIT Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, March 14th were given 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 5.26%. NETSTREIT’s payout ratio is currently -525.00%.

Insider Activity

In other NETSTREIT news, CEO Mark Manheimer purchased 3,616 shares of the business’s stock in a transaction that occurred on Friday, March 7th. The shares were acquired at an average price of $15.22 per share, for a total transaction of $55,035.52. Following the completion of the purchase, 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 position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders acquired 12,000 shares of company stock worth $183,172 over the last ninety days. Corporate insiders own 0.46% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. Raymond James reduced their price objective on NETSTREIT from $19.00 to $17.00 and set a “strong-buy” rating on the stock in a research note on Friday, January 17th. Wells Fargo & Company initiated coverage on shares of NETSTREIT in a research report on Monday, April 7th. They set an “overweight” rating and a $18.00 price target on the stock. Mizuho increased their price objective on shares of NETSTREIT from $15.00 to $17.00 and gave the stock an “outperform” rating in a research report on Thursday, April 3rd. Finally, Capital One Financial initiated coverage on shares of NETSTREIT in a report on Wednesday, February 12th. They set an “overweight” rating on the stock. One analyst has rated the stock with a hold rating, six have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target 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.