Northern Trust Corp Boosts Stock Holdings in NETSTREIT Corp. (NYSE:NTST)

Northern Trust Corp grew its position in shares of NETSTREIT Corp. (NYSE:NTST) by 31.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 881,688 shares of the company’s stock after buying an additional 209,475 shares during the quarter. Northern Trust Corp owned 1.08% of NETSTREIT worth $12,476,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in the company. PNC Financial Services Group Inc. boosted 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 worth $77,000 after purchasing an additional 4,865 shares during the last quarter. Prudent Man Advisors LLC purchased a new stake in NETSTREIT in the fourth quarter worth approximately $143,000. Mariner LLC purchased a new stake in NETSTREIT in the fourth quarter worth approximately $143,000. Envestnet Portfolio Solutions Inc. purchased a new stake in NETSTREIT in the fourth quarter worth approximately $152,000. Finally, Proficio Capital Partners LLC purchased a new stake in NETSTREIT in the fourth quarter worth approximately $179,000.

Analyst Ratings Changes

NTST has been the topic of several research reports. Capital One Financial initiated coverage on shares of NETSTREIT in a report on Wednesday, February 12th. They issued an “overweight” rating on the stock. Wells Fargo & Company started coverage on shares of NETSTREIT in a research report on Monday, April 7th. They issued an “overweight” rating and a $18.00 price target on the stock. Mizuho increased their price target 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, Raymond James decreased their price target on shares of NETSTREIT from $19.00 to $17.00 and set a “strong-buy” rating on the stock in a research report on Friday, January 17th. One equities research 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. According to MarketBeat, NETSTREIT currently has an average rating of “Buy” and a consensus target price of $18.03.

Insider Activity

In other news, CEO Mark Manheimer acquired 3,616 shares of the firm’s stock in a transaction dated Friday, March 7th. The shares were purchased at an average cost of $15.22 per share, for a total transaction of $55,035.52. Following the transaction, the chief executive officer now directly owns 295,252 shares of the company’s stock, valued at approximately $4,493,735.44. This trade represents a 1.24% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders have bought 12,000 shares of company stock worth $183,172 in the last three months. Company insiders own 0.58% of the company’s stock.

NETSTREIT Stock Up 1.2%

NTST opened at $15.91 on Friday. The company has a market capitalization of $1.30 billion, a PE ratio of -265.11 and a beta of 0.90. NETSTREIT Corp. has a 1-year low of $13.42 and a 1-year high of $17.99. The firm’s 50 day simple moving average is $15.64 and its two-hundred day simple moving average is $15.11. 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 will be paid on Monday, June 16th. Stockholders of record on Monday, June 2nd will be given a dividend of $0.21 per share. The ex-dividend date is Monday, June 2nd. This represents a $0.84 annualized dividend and a dividend yield of 5.28%. NETSTREIT’s payout ratio is -560.00%.

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.