Wells Fargo & Company MN Has $2.52 Million Position in NETSTREIT Corp. (NYSE:NTST)

Wells Fargo & Company MN increased its stake in NETSTREIT Corp. (NYSE:NTST) by 37.4% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 178,146 shares of the company’s stock after purchasing an additional 48,521 shares during the period. Wells Fargo & Company MN owned 0.22% of NETSTREIT worth $2,521,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. American Century Companies Inc. increased its position in NETSTREIT by 3.3% in the fourth quarter. American Century Companies Inc. now owns 24,400 shares of the company’s stock worth $345,000 after purchasing an additional 781 shares during the period. Daiwa Securities Group Inc. grew its position in shares of NETSTREIT by 3.1% during the 4th quarter. Daiwa Securities Group Inc. now owns 26,383 shares of the company’s stock worth $373,000 after buying an additional 789 shares during the period. Carmel Capital Partners LLC raised its stake in shares of NETSTREIT by 4.7% during the fourth quarter. Carmel Capital Partners LLC now owns 26,180 shares of the company’s stock worth $370,000 after buying an additional 1,174 shares during the last quarter. Arizona State Retirement System lifted its holdings in NETSTREIT by 6.3% in the fourth quarter. Arizona State Retirement System now owns 22,456 shares of the company’s stock valued at $318,000 after buying an additional 1,331 shares during the period. Finally, Van ECK Associates Corp boosted its stake in NETSTREIT by 10.2% in the fourth quarter. Van ECK Associates Corp now owns 14,729 shares of the company’s stock valued at $208,000 after acquiring an additional 1,366 shares during the last quarter.

Insider Buying and Selling at NETSTREIT

In other news, CEO Mark Manheimer acquired 6,384 shares of NETSTREIT stock in a transaction dated Monday, March 10th. The stock was bought at an average cost of $15.33 per share, with a total value of $97,866.72. Following the completion of the transaction, the chief executive officer now directly owns 304,572 shares of the company’s stock, valued at approximately $4,669,088.76. This represents a 2.14 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have bought 12,000 shares of company stock valued at $183,172 in the last 90 days. 0.58% of the stock is currently owned by company insiders.

NETSTREIT Stock Performance

Shares of NTST opened at $15.60 on Friday. The firm has a market cap of $1.27 billion, a P/E ratio of -259.96 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 debt-to-equity ratio of 0.57, a quick ratio of 4.11 and a current ratio of 4.11. The firm’s 50 day moving average price is $15.25 and its two-hundred day moving average price is $15.12.

NETSTREIT Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, March 14th were issued a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 5.38%. The ex-dividend date of this dividend was Friday, March 14th. NETSTREIT’s dividend payout ratio (DPR) is presently -525.00%.

Analysts Set New Price Targets

A number of research firms have recently weighed in on NTST. Raymond James cut their price target 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. Mizuho raised their target price on NETSTREIT from $15.00 to $17.00 and gave the stock an “outperform” rating in a report on Thursday, April 3rd. Capital One Financial started coverage on NETSTREIT in a research note on Wednesday, February 12th. They issued an “overweight” rating for the company. Finally, Wells Fargo & Company initiated coverage on shares of NETSTREIT in a research note on Monday, April 7th. They set an “overweight” rating and a $18.00 price objective on the stock. One research analyst has rated the stock with a hold rating, six have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, NETSTREIT has a consensus rating of “Buy” and a consensus 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.