NETSTREIT Corp. $NTST Shares Sold by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D cut its holdings in NETSTREIT Corp. (NYSE:NTST) by 10.5% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 121,669 shares of the company’s stock after selling 14,277 shares during the period. State of New Jersey Common Pension Fund D owned about 0.15% of NETSTREIT worth $2,060,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of NTST. Principal Financial Group Inc. boosted its holdings in shares of NETSTREIT by 61.3% in the 1st quarter. Principal Financial Group Inc. now owns 7,741,808 shares of the company’s stock valued at $122,708,000 after buying an additional 2,941,600 shares during the period. Nuveen LLC acquired a new position in NETSTREIT during the 1st quarter valued at about $18,181,000. MetLife Investment Management LLC boosted its stake in NETSTREIT by 1,992.5% during the 1st quarter. MetLife Investment Management LLC now owns 1,023,171 shares of the company’s stock valued at $16,217,000 after purchasing an additional 974,275 shares during the period. Adage Capital Partners GP L.L.C. acquired a new position in NETSTREIT during the 1st quarter valued at about $9,397,000. Finally, Strs Ohio acquired a new position in NETSTREIT during the 1st quarter valued at about $8,676,000.

NETSTREIT Trading Down 0.0%

Shares of NYSE:NTST opened at $18.78 on Thursday. The company has a 50 day moving average of $18.42 and a 200-day moving average of $17.42. The firm has a market cap of $1.57 billion, a P/E ratio of -1,878,100.00, a P/E/G ratio of 3.36 and a beta of 0.90. NETSTREIT Corp. has a twelve month low of $13.42 and a twelve month high of $19.64. The company has a current ratio of 3.85, a quick ratio of 3.83 and a debt-to-equity ratio of 0.84.

NETSTREIT Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Monday, December 1st will be paid a $0.215 dividend. This represents a $0.86 dividend on an annualized basis and a dividend yield of 4.6%. The ex-dividend date of this dividend is Monday, December 1st.

Insider Buying and Selling at NETSTREIT

In related news, CEO Mark Manheimer purchased 5,600 shares of NETSTREIT stock in a transaction dated Friday, September 5th. The stock was bought at an average cost 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 approximately $5,672,657.54. The trade was a 1.80% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.58% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have issued reports on NTST. Truist Financial set a $19.00 target price on shares of NETSTREIT in a research note on Friday, July 25th. Bank of America raised shares of NETSTREIT from an “underperform” rating to a “neutral” rating and boosted their target price for the company from $18.00 to $19.00 in a research note on Monday, July 28th. Cantor Fitzgerald began coverage on shares of NETSTREIT in a research note on Wednesday, October 1st. They set an “overweight” rating and a $21.00 target price for the company. Weiss Ratings reissued a “hold (c-)” rating on shares of NETSTREIT in a research note on Wednesday, October 8th. Finally, UBS Group boosted their target price on shares of NETSTREIT from $20.00 to $21.00 and gave the company a “buy” rating in a research note on Friday, August 15th. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat, NETSTREIT currently has an average rating of “Moderate Buy” and a consensus price target of $20.45.

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.