NETSTREIT Corp. (NYSE:NTST) Shares Bought by Comerica Bank

Comerica Bank raised its position in shares of NETSTREIT Corp. (NYSE:NTST) by 174.3% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 9,703 shares of the company’s stock after purchasing an additional 6,166 shares during the quarter. Comerica Bank’s holdings in NETSTREIT were worth $137,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in NTST. PNC Financial Services Group Inc. raised its stake in shares of NETSTREIT by 861.1% in the 4th quarter. PNC Financial Services Group Inc. now owns 5,430 shares of the company’s stock valued at $77,000 after acquiring an additional 4,865 shares in the last quarter. Prudent Man Advisors LLC acquired a new stake in NETSTREIT during the fourth quarter valued at approximately $143,000. Mariner LLC acquired a new stake in NETSTREIT during the fourth quarter valued at approximately $143,000. Envestnet Portfolio Solutions Inc. acquired a new position in shares of NETSTREIT in the 4th quarter worth approximately $152,000. Finally, Proficio Capital Partners LLC acquired a new position in shares of NETSTREIT in the 4th quarter worth approximately $179,000.

Insiders Place Their Bets

In other NETSTREIT news, CEO Mark Manheimer bought 6,384 shares of NETSTREIT stock in a transaction that occurred on Monday, March 10th. The shares were bought at an average price of $15.33 per share, with a total value of $97,866.72. Following the acquisition, the chief executive officer now owns 304,572 shares in the company, valued at approximately $4,669,088.76. This trade represents a 2.14% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders have bought 12,000 shares of company stock worth $183,172 in the last three months. 0.58% of the stock is currently owned by corporate insiders.

NETSTREIT Trading Up 1.2%

Shares of NTST stock opened at $15.91 on Monday. 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 company has a market capitalization of $1.30 billion, a price-to-earnings ratio of -265.11 and a beta of 0.90. NETSTREIT Corp. has a 52-week low of $13.42 and a 52-week high of $17.99. The company has a 50-day simple moving average of $15.64 and a two-hundred day simple moving average of $15.10.

NETSTREIT Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Monday, June 2nd will be paid a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 5.28%. The ex-dividend date of this dividend is Monday, June 2nd. NETSTREIT’s dividend payout ratio is presently -560.00%.

Wall Street Analysts Forecast Growth

Several brokerages have commented on NTST. Mizuho upped their target price 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. Capital One Financial began 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 began coverage on shares of NETSTREIT in a research note on Monday, April 7th. They set an “overweight” rating and a $18.00 price objective for the company. One investment 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 stock. Based on data from MarketBeat, NETSTREIT currently has a consensus rating of “Buy” and an average target price of $18.03.

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.