Rhumbline Advisers Sells 1,094 Shares of NETSTREIT Corp. (NYSE:NTST)

Rhumbline Advisers reduced its position in NETSTREIT Corp. (NYSE:NTST) by 0.8% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 132,800 shares of the company’s stock after selling 1,094 shares during the quarter. Rhumbline Advisers owned about 0.16% of NETSTREIT worth $2,105,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Swiss National Bank boosted its position in shares of NETSTREIT by 5.7% in the fourth quarter. Swiss National Bank now owns 152,200 shares of the company’s stock valued at $2,154,000 after acquiring an additional 8,200 shares during the period. Cohen & Steers Inc. boosted its position in shares of NETSTREIT by 3.0% in the fourth quarter. Cohen & Steers Inc. now owns 6,663,409 shares of the company’s stock valued at $94,287,000 after acquiring an additional 191,846 shares during the period. Charles Schwab Investment Management Inc. boosted its position in shares of NETSTREIT by 5.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,133,552 shares of the company’s stock valued at $16,040,000 after acquiring an additional 55,378 shares during the period. LPL Financial LLC bought a new position in shares of NETSTREIT in the fourth quarter valued at approximately $236,000. Finally, Freestone Grove Partners LP bought a new position in shares of NETSTREIT in the fourth quarter valued at approximately $363,000.

Wall Street Analysts Forecast Growth

NTST has been the subject of several research analyst reports. Raymond James reiterated a “strong-buy” rating on shares of NETSTREIT in a research report on Friday, May 23rd. 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 target price for the company. Finally, Mizuho lifted 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 issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $18.16.

NETSTREIT Price Performance

Shares of NYSE:NTST opened at $16.29 on Tuesday. The firm’s 50 day moving average price is $15.95 and its 200-day moving average price is $15.13. NETSTREIT Corp. has a twelve month low of $13.42 and a twelve month high of $17.53. The company has a quick ratio of 4.11, a current ratio of 4.11 and a debt-to-equity ratio of 0.57. The stock has a market capitalization of $1.33 billion, a PE ratio of -271.50 and a beta of 0.88.

NETSTREIT Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Monday, June 2nd were paid a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 5.16%. The ex-dividend date was Monday, June 2nd. 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.