Deutsche Bank AG decreased its holdings in NETSTREIT Corp. (NYSE:NTST – Free Report) by 96.7% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 95,021 shares of the company’s stock after selling 2,750,432 shares during the period. Deutsche Bank AG owned about 0.12% of NETSTREIT worth $1,506,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors and hedge funds have also made changes to their positions in the company. Assetmark Inc. grew its stake in NETSTREIT by 126.3% in the 1st quarter. Assetmark Inc. now owns 2,150 shares of the company’s stock worth $34,000 after acquiring an additional 1,200 shares in the last quarter. CWM LLC increased its holdings in NETSTREIT by 78.2% during the 1st quarter. CWM LLC now owns 2,253 shares of the company’s stock worth $36,000 after purchasing an additional 989 shares during the period. Lazard Asset Management LLC purchased a new position in NETSTREIT during the 4th quarter worth $41,000. GAMMA Investing LLC raised its position in NETSTREIT by 2,779.7% during the 1st quarter. GAMMA Investing LLC now owns 7,228 shares of the company’s stock valued at $115,000 after purchasing an additional 6,977 shares in the last quarter. Finally, Comerica Bank lifted its holdings in shares of NETSTREIT by 174.3% in the 4th quarter. Comerica Bank now owns 9,703 shares of the company’s stock worth $137,000 after buying an additional 6,166 shares during the period.
Wall Street Analysts Forecast Growth
A number of equities analysts have recently issued reports on the stock. Truist Financial set a $19.00 price objective on shares of NETSTREIT in a research note on Friday, July 25th. Bank of America raised NETSTREIT from an “underperform” rating to a “neutral” rating and increased their target price for the company from $18.00 to $19.00 in a research report on Monday, July 28th. Robert W. Baird boosted their price target on NETSTREIT from $18.00 to $20.00 and gave the stock an “outperform” rating in a research report on Thursday, July 24th. Raymond James Financial restated a “strong-buy” rating and set a $21.00 price objective on shares of NETSTREIT in a research note on Wednesday, July 30th. Finally, UBS Group raised their price objective on NETSTREIT from $20.00 to $21.00 and gave the company a “buy” rating in a research report on Friday, August 15th. Two research 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 company. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $19.14.
NETSTREIT Trading Down 2.2%
Shares of NETSTREIT stock opened at $18.4720 on Friday. The firm’s 50 day simple moving average is $17.75 and its two-hundred day simple moving average is $16.23. The firm has a market capitalization of $1.54 billion, a price-to-earnings ratio of -230.90, a PEG ratio of 4.33 and a beta of 0.89. NETSTREIT Corp. has a 12-month low of $13.42 and a 12-month high of $19.18. The company has a current ratio of 3.83, a quick ratio of 3.83 and a debt-to-equity ratio of 0.70.
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 issued a dividend of $0.215 per share. This is a positive change from NETSTREIT’s previous quarterly dividend of $0.21. The ex-dividend date of this dividend is Tuesday, September 2nd. This represents a $0.86 annualized dividend and a dividend yield of 4.7%. NETSTREIT’s payout ratio is presently -1,075.00%.
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.
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