IFM Investors Pty Ltd Sells 1,511 Shares of NETSTREIT Corp. $NTST

IFM Investors Pty Ltd cut its position in NETSTREIT Corp. (NYSE:NTST) by 8.4% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 16,428 shares of the company’s stock after selling 1,511 shares during the quarter. IFM Investors Pty Ltd’s holdings in NETSTREIT were worth $260,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the company. Jane Street Group LLC bought a new stake in shares of NETSTREIT in the first quarter valued at $928,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in shares of NETSTREIT by 8.0% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 567,532 shares of the company’s stock valued at $8,995,000 after buying an additional 42,121 shares during the period. Caxton Associates LLP bought a new stake in shares of NETSTREIT in the first quarter valued at $322,000. Goldman Sachs Group Inc. raised its stake in shares of NETSTREIT by 3.6% in the first quarter. Goldman Sachs Group Inc. now owns 499,346 shares of the company’s stock valued at $7,915,000 after buying an additional 17,188 shares during the period. Finally, Presima Securities ULC raised its stake in shares of NETSTREIT by 87.6% in the first quarter. Presima Securities ULC now owns 674,061 shares of the company’s stock valued at $10,684,000 after buying an additional 314,728 shares during the period.

Analysts Set New Price Targets

Several brokerages have issued reports on NTST. UBS Group boosted their target price on NETSTREIT from $20.00 to $21.00 and gave the company a “buy” rating in a research note on Friday, August 15th. Scotiabank reiterated an “outperform” rating on shares of NETSTREIT in a research note on Wednesday, August 27th. Raymond James Financial reiterated a “strong-buy” rating and set a $21.00 price objective on shares of NETSTREIT in a research note on Wednesday, July 30th. Bank of America upgraded NETSTREIT from an “underperform” rating to a “neutral” rating and boosted their price objective for the company from $18.00 to $19.00 in a research note on Monday, July 28th. Finally, Mizuho boosted their price objective on NETSTREIT from $17.00 to $20.00 and gave the company an “outperform” rating in a research note on Thursday. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, NETSTREIT currently has an average rating of “Buy” and an average price target of $19.92.

NETSTREIT Price Performance

Shares of NYSE NTST opened at $18.25 on Friday. The firm has a market capitalization of $1.52 billion, a P/E ratio of -228.06, a P/E/G ratio of 4.19 and a beta of 0.89. The company has a quick ratio of 3.83, a current ratio of 3.83 and a debt-to-equity ratio of 0.70. The stock’s 50-day simple moving average is $18.16 and its two-hundred day simple moving average is $16.65. NETSTREIT Corp. has a twelve month low of $13.42 and a twelve month high of $19.18.

NETSTREIT Increases Dividend

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

Insiders Place Their Bets

In other NETSTREIT news, CEO Mark Manheimer bought 5,600 shares of the firm’s stock in a transaction on Friday, September 5th. The shares were acquired at an average cost of $17.93 per share, for a total transaction of $100,408.00. Following the purchase, the chief executive officer directly owned 316,378 shares of the company’s stock, valued at $5,672,657.54. The trade was a 1.80% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.58% of the stock is owned by corporate insiders.

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.