Ameriprise Financial Inc. Purchases 7,820 Shares of NETSTREIT Corp. (NYSE:NTST)

Ameriprise Financial Inc. lifted its position in NETSTREIT Corp. (NYSE:NTST) by 21.5% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 44,116 shares of the company’s stock after acquiring an additional 7,820 shares during the quarter. Ameriprise Financial Inc. owned 0.05% of NETSTREIT worth $624,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. PNC Financial Services Group Inc. lifted its holdings in NETSTREIT by 861.1% during the 4th 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 in the last quarter. Comerica Bank lifted its holdings in NETSTREIT by 174.3% during the 4th quarter. Comerica Bank now owns 9,703 shares of the company’s stock valued at $137,000 after buying an additional 6,166 shares in the last quarter. Mariner LLC bought a new stake in NETSTREIT during the 4th quarter valued at about $143,000. Prudent Man Advisors LLC bought a new stake in NETSTREIT during the 4th quarter valued at about $143,000. Finally, Envestnet Portfolio Solutions Inc. bought a new stake in NETSTREIT during the 4th quarter valued at about $152,000.

NETSTREIT Trading Up 1.2%

NYSE NTST opened at $16.17 on Wednesday. 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 $1.32 billion, a price-to-earnings ratio of -269.37 and a beta of 0.88. The company’s 50-day simple moving average is $15.78 and its two-hundred day simple moving average is $15.12. NETSTREIT Corp. has a one year low of $13.42 and a one year high of $17.53.

NETSTREIT Announces Dividend

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 $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 5.20%. The ex-dividend date of this dividend is Monday, June 2nd. NETSTREIT’s payout ratio is currently -560.00%.

Insider Transactions at NETSTREIT

In other news, CEO Mark Manheimer acquired 6,384 shares of the business’s stock in a transaction dated Monday, March 10th. The shares were purchased at an average price of $15.33 per share, with a total value of $97,866.72. Following the transaction, the chief executive officer now directly owns 304,572 shares in the company, valued at approximately $4,669,088.76. This represents a 2.14% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders have bought a total of 11,000 shares of company stock valued at $168,172 in the last 90 days. Insiders own 0.58% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on NTST shares. Capital One Financial started coverage on shares of NETSTREIT in a report on Wednesday, February 12th. They set an “overweight” rating for the company. Wells Fargo & Company assumed coverage on shares of NETSTREIT in a report on Monday, April 7th. They set an “overweight” rating and a $18.00 price objective for the company. Raymond James reissued a “strong-buy” rating on shares of NETSTREIT in a research report on Friday, May 23rd. Finally, Mizuho raised 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. One research analyst has rated the stock with a hold rating, six have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, NETSTREIT presently has a consensus rating of “Buy” and an average price target of $18.16.

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.