Avantax Advisory Services Inc. Grows Stock Position in NETSTREIT Corp. (NYSE:NTST)

Avantax Advisory Services Inc. grew its holdings in NETSTREIT Corp. (NYSE:NTST) by 97.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 24,621 shares of the company’s stock after acquiring an additional 12,172 shares during the quarter. Avantax Advisory Services Inc.’s holdings in NETSTREIT were worth $390,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. CWM LLC raised its position in shares of NETSTREIT by 78.2% in the 1st quarter. CWM LLC now owns 2,253 shares of the company’s stock valued at $36,000 after purchasing an additional 989 shares during the last quarter. Lazard Asset Management LLC purchased a new position in shares of NETSTREIT in the fourth quarter worth $41,000. GAMMA Investing LLC lifted its stake in shares of NETSTREIT by 2,779.7% during the first quarter. GAMMA Investing LLC now owns 7,228 shares of the company’s stock worth $115,000 after buying an additional 6,977 shares during the period. Comerica Bank grew its holdings in shares of NETSTREIT by 174.3% during the fourth quarter. Comerica Bank now owns 9,703 shares of the company’s stock valued at $137,000 after buying an additional 6,166 shares during the last quarter. Finally, Mariner LLC purchased a new stake in shares of NETSTREIT during the fourth quarter valued at $143,000.

NETSTREIT Stock Performance

Shares of NYSE NTST opened at $18.53 on Thursday. The company has a market capitalization of $1.55 billion, a PE ratio of -231.59, a price-to-earnings-growth ratio of 4.28 and a beta of 0.89. The company has a debt-to-equity ratio of 0.70, a quick ratio of 3.83 and a current ratio of 3.83. The company’s fifty day moving average price is $17.15 and its 200 day moving average price is $15.88. NETSTREIT Corp. has a 1 year low of $13.42 and a 1 year high of $18.95.

NETSTREIT Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Tuesday, September 2nd will be paid a dividend of $0.215 per share. This represents a $0.86 annualized dividend and a dividend yield of 4.6%. The ex-dividend date of this dividend is Tuesday, September 2nd. This is an increase from NETSTREIT’s previous quarterly dividend of $0.21. NETSTREIT’s dividend payout ratio is currently -1,050.00%.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the company. UBS Group lifted their price target on NETSTREIT from $18.00 to $20.00 and gave the stock a “buy” rating in a research report on Wednesday, July 16th. Bank of America raised NETSTREIT from an “underperform” rating to a “neutral” rating and lifted their target price for the stock from $18.00 to $19.00 in a report on Monday, July 28th. Raymond James Financial reiterated a “strong-buy” rating and issued a $21.00 price target on shares of NETSTREIT in a report on Wednesday, July 30th. Truist Financial set a $19.00 price objective on shares of NETSTREIT in a research note on Friday, July 25th. Finally, Robert W. Baird upped their price objective on shares of NETSTREIT from $18.00 to $20.00 and gave the company an “outperform” rating in a report on Thursday, July 24th. Two investment analysts have rated the stock with a hold rating, seven have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $18.83.

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.