Vanguard Group Inc. Grows Stock Holdings in NETSTREIT Corp. $NTST

Vanguard Group Inc. grew its holdings in NETSTREIT Corp. (NYSE:NTST) by 4.0% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,275,681 shares of the company’s stock after purchasing an additional 315,888 shares during the quarter. Vanguard Group Inc. owned about 10.13% of NETSTREIT worth $131,170,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of NTST. Principal Financial Group Inc. lifted its stake in NETSTREIT by 61.3% in the 1st quarter. Principal Financial Group Inc. now owns 7,741,808 shares of the company’s stock worth $122,708,000 after purchasing an additional 2,941,600 shares in the last quarter. Hudson Bay Capital Management LP lifted its stake in NETSTREIT by 195.9% in the 4th quarter. Hudson Bay Capital Management LP now owns 1,338,746 shares of the company’s stock worth $18,943,000 after purchasing an additional 886,283 shares in the last quarter. DigitalBridge Group Inc. raised its position in shares of NETSTREIT by 1,175.4% during the 4th quarter. DigitalBridge Group Inc. now owns 953,968 shares of the company’s stock valued at $13,499,000 after buying an additional 879,168 shares during the period. Deprince Race & Zollo Inc. raised its position in shares of NETSTREIT by 30.9% during the 4th quarter. Deprince Race & Zollo Inc. now owns 3,044,157 shares of the company’s stock valued at $43,075,000 after buying an additional 718,193 shares during the period. Finally, Centersquare Investment Management LLC raised its position in shares of NETSTREIT by 23.8% during the 1st quarter. Centersquare Investment Management LLC now owns 2,388,977 shares of the company’s stock valued at $37,865,000 after buying an additional 459,487 shares during the period.

Analyst Ratings Changes

Several research firms have recently commented on NTST. UBS Group lifted their price target on shares of NETSTREIT from $20.00 to $21.00 and gave the company a “buy” rating in a research report on Friday, August 15th. Raymond James Financial reaffirmed a “strong-buy” rating and set a $21.00 price target on shares of NETSTREIT in a research report on Wednesday, July 30th. Robert W. Baird lifted their price target on shares of NETSTREIT from $18.00 to $20.00 and gave the company an “outperform” rating in a research report on Thursday, July 24th. Bank of America raised shares of NETSTREIT from an “underperform” rating to a “neutral” rating and lifted their price target for the company from $18.00 to $19.00 in a research report on Monday, July 28th. Finally, Truist Financial set a $19.00 price target on shares of NETSTREIT in a research report on Friday, July 25th. Two investment analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, NETSTREIT has an average rating of “Buy” and an average target price of $19.14.

NETSTREIT Stock Down 0.4%

NETSTREIT stock opened at $18.8850 on Friday. NETSTREIT Corp. has a fifty-two week low of $13.42 and a fifty-two week high of $19.02. 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 firm has a 50 day moving average price of $17.70 and a 200 day moving average price of $16.20. The company has a market capitalization of $1.58 billion, a PE ratio of -236.06, a price-to-earnings-growth ratio of 4.36 and a beta of 0.89.

NETSTREIT Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Tuesday, September 2nd will be paid a $0.215 dividend. This represents a $0.86 annualized dividend and a dividend yield of 4.6%. This is a positive change from NETSTREIT’s previous quarterly dividend of $0.21. The ex-dividend date is Tuesday, September 2nd. NETSTREIT’s payout ratio is presently -1,050.00%.

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.