Swiss National Bank Grows Stake in NETSTREIT Corp. $NTST

Swiss National Bank boosted its stake in shares of NETSTREIT Corp. (NYSE:NTST) by 3.9% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 158,100 shares of the company’s stock after acquiring an additional 5,900 shares during the quarter. Swiss National Bank owned about 0.19% of NETSTREIT worth $2,506,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the stock. LPL Financial LLC bought a new position in shares of NETSTREIT during the 4th quarter valued at approximately $236,000. Wells Fargo & Company MN boosted its stake in NETSTREIT by 37.4% during the fourth quarter. Wells Fargo & Company MN now owns 178,146 shares of the company’s stock worth $2,521,000 after buying an additional 48,521 shares during the period. Envestnet Asset Management Inc. increased its position in NETSTREIT by 520.3% during the fourth quarter. Envestnet Asset Management Inc. now owns 154,408 shares of the company’s stock valued at $2,185,000 after acquiring an additional 129,516 shares during the last quarter. Renaissance Technologies LLC purchased a new stake in shares of NETSTREIT in the fourth quarter valued at $2,322,000. Finally, Raymond James Financial Inc. bought a new stake in shares of NETSTREIT in the 4th quarter worth about $927,000.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on NTST. Bank of America raised shares of NETSTREIT from an “underperform” rating to a “neutral” rating and increased their price objective for the stock from $18.00 to $19.00 in a research report on Monday, July 28th. Robert W. Baird increased their price target on NETSTREIT from $18.00 to $20.00 and gave the stock an “outperform” rating in a 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 report on Wednesday, July 30th. UBS Group increased their target price on NETSTREIT from $20.00 to $21.00 and gave the stock a “buy” rating in a research note on Friday, August 15th. Finally, Truist Financial set a $19.00 target price on NETSTREIT in a research report on Friday, July 25th. Two research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $19.14.

NETSTREIT Stock Down 2.2%

Shares of NETSTREIT stock opened at $18.4720 on Friday. The company has a debt-to-equity ratio of 0.70, a current ratio of 3.83 and a quick ratio of 3.83. The stock has a market cap of $1.54 billion, a price-to-earnings ratio of -230.90, a PEG ratio of 4.33 and a beta of 0.89. The firm’s 50-day moving average is $17.75 and its two-hundred day moving average is $16.23. NETSTREIT Corp. has a 1 year low of $13.42 and a 1 year high of $19.18.

NETSTREIT Increases Dividend

The firm also recently disclosed 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 is a boost from NETSTREIT’s previous quarterly dividend of $0.21. This represents a $0.86 dividend on an annualized basis and a dividend yield of 4.7%. The ex-dividend date is Tuesday, September 2nd. NETSTREIT’s payout ratio is -1,075.00%.

NETSTREIT 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.