Mark Manheimer Buys 5,600 Shares of NETSTREIT (NYSE:NTST) Stock

NETSTREIT Corp. (NYSE:NTST) CEO Mark Manheimer acquired 5,600 shares of NETSTREIT stock in a transaction on Friday, September 5th. The shares were purchased at an average cost of $17.93 per share, with a total value of $100,408.00. Following the completion of the acquisition, the chief executive officer owned 316,378 shares of the company’s stock, valued at $5,672,657.54. This trade represents a 1.80% increase in their position. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website.

NETSTREIT Stock Performance

NYSE:NTST opened at $18.28 on Wednesday. The company has a market capitalization 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 business has a fifty day simple moving average of $18.08 and a two-hundred day simple moving average of $16.57. The company has a debt-to-equity ratio of 0.70, a current ratio of 3.83 and a quick ratio of 3.83. NETSTREIT Corp. has a 1 year low of $13.42 and a 1 year high of $19.18.

NETSTREIT Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Tuesday, September 2nd will be issued a $0.215 dividend. This is an increase 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 yield of 4.7%. NETSTREIT’s payout ratio is -1,075.00%.

Wall Street Analysts Forecast Growth

NTST has been the topic of several recent research reports. Raymond James Financial reaffirmed a “strong-buy” rating and set a $21.00 price objective on shares of NETSTREIT in a report on Wednesday, July 30th. UBS Group boosted their price target on shares of NETSTREIT from $20.00 to $21.00 and gave the company a “buy” rating in a research report on Friday, August 15th. Robert W. Baird raised their price objective on shares of NETSTREIT from $18.00 to $20.00 and gave the stock an “outperform” rating in a report on Thursday, July 24th. Bank of America upgraded shares of 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 research note on Monday, July 28th. Finally, Wells Fargo & Company boosted their target price on shares of NETSTREIT from $18.00 to $20.00 and gave the company an “overweight” rating in a report on Wednesday, August 27th. One investment 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, NETSTREIT currently has a consensus rating of “Buy” and a consensus price target of $19.58.

Hedge Funds Weigh In On NETSTREIT

Several hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. increased its holdings in NETSTREIT by 4.0% during the 1st quarter. Vanguard Group Inc. now owns 8,275,681 shares of the company’s stock worth $131,170,000 after acquiring an additional 315,888 shares during the period. Principal Financial Group Inc. grew its position in shares of NETSTREIT by 61.3% during the 1st quarter. Principal Financial Group Inc. now owns 7,741,808 shares of the company’s stock valued at $122,708,000 after purchasing an additional 2,941,600 shares in the last quarter. Lasalle Investment Management Securities LLC increased its holdings in shares of NETSTREIT by 13.8% in the second quarter. Lasalle Investment Management Securities LLC now owns 3,836,565 shares of the company’s stock worth $64,953,000 after purchasing an additional 464,980 shares during the period. Hudson Bay Capital Management LP increased its holdings in shares of NETSTREIT by 44.4% in the second quarter. Hudson Bay Capital Management LP now owns 2,807,797 shares of the company’s stock worth $47,536,000 after purchasing an additional 862,766 shares during the period. Finally, Sumitomo Mitsui Trust Group Inc. raised its position in shares of NETSTREIT by 8.2% in the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,389,583 shares of the company’s stock worth $37,875,000 after buying an additional 181,880 shares in the last quarter.

About NETSTREIT

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.