State of Wyoming Purchases New Holdings in NETSTREIT Corp. $NTST

State of Wyoming acquired a new stake in shares of NETSTREIT Corp. (NYSE:NTST) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 3,661 shares of the company’s stock, valued at approximately $58,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in NTST. Price T Rowe Associates Inc. MD raised its stake in NETSTREIT by 17.9% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 30,436 shares of the company’s stock valued at $431,000 after acquiring an additional 4,624 shares during the last quarter. Northern Trust Corp raised its stake in NETSTREIT by 31.2% during the 4th quarter. Northern Trust Corp now owns 881,688 shares of the company’s stock valued at $12,476,000 after acquiring an additional 209,475 shares during the last quarter. Comerica Bank raised its stake in NETSTREIT by 174.3% during the 4th quarter. Comerica Bank now owns 9,703 shares of the company’s stock valued at $137,000 after acquiring an additional 6,166 shares during the last quarter. Ameriprise Financial Inc. raised its stake in NETSTREIT by 21.5% during the 4th quarter. Ameriprise Financial Inc. now owns 44,116 shares of the company’s stock valued at $624,000 after acquiring an additional 7,820 shares during the last quarter. Finally, BNP Paribas Financial Markets purchased a new stake in NETSTREIT during the 4th quarter valued at approximately $788,000.

NETSTREIT Stock Performance

NTST opened at $18.28 on Wednesday. The stock has a market cap of $1.53 billion, a P/E ratio of -228.50, a P/E/G ratio of 4.11 and a beta of 0.89. 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’s 50 day simple moving average is $18.08 and its 200 day simple moving average is $16.57. NETSTREIT Corp. has a 1-year low of $13.42 and a 1-year high of $19.18.

NETSTREIT Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Tuesday, September 2nd will be given a dividend of $0.215 per share. The ex-dividend date is Tuesday, September 2nd. This represents a $0.86 annualized dividend and a dividend yield of 4.7%. This is an increase from NETSTREIT’s previous quarterly dividend of $0.21. NETSTREIT’s payout ratio is presently -1,075.00%.

Analyst Upgrades and Downgrades

Several analysts have commented on the company. Raymond James Financial reaffirmed a “strong-buy” rating and set a $21.00 price objective on shares of NETSTREIT in a research note on Wednesday, July 30th. Truist Financial set a $19.00 price objective on NETSTREIT in a research note on Friday, July 25th. Bank of America raised NETSTREIT from an “underperform” rating to a “neutral” rating and lifted their price objective for the company from $18.00 to $19.00 in a report on Monday, July 28th. Wells Fargo & Company increased their target price on NETSTREIT from $18.00 to $20.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 27th. Finally, Scotiabank reissued an “outperform” rating on shares of NETSTREIT in a research note on Wednesday, August 27th. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, NETSTREIT currently has a consensus rating of “Buy” and a consensus target price of $19.58.

Insider Transactions at NETSTREIT

In related news, CEO Mark Manheimer bought 5,600 shares of NETSTREIT stock in a transaction that occurred on Friday, September 5th. The shares were purchased at an average price of $17.93 per share, with a total value of $100,408.00. Following the purchase, the chief executive officer owned 316,378 shares in the company, valued at $5,672,657.54. This represents a 1.80% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 0.58% of the company’s stock.

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.