Carmel Capital Partners LLC Trims Stock Holdings in NETSTREIT Corp. $NTST

Carmel Capital Partners LLC decreased its stake in NETSTREIT Corp. (NYSE:NTST) by 54.5% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 11,847 shares of the company’s stock after selling 14,203 shares during the period. Carmel Capital Partners LLC’s holdings in NETSTREIT were worth $201,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of NTST. Principal Financial Group Inc. increased its position in NETSTREIT by 61.3% in the first quarter. Principal Financial Group Inc. now owns 7,741,808 shares of the company’s stock worth $122,708,000 after buying an additional 2,941,600 shares in the last quarter. Nuveen LLC purchased a new stake in NETSTREIT in the first quarter worth about $18,181,000. MetLife Investment Management LLC increased its position in NETSTREIT by 1,992.5% in the first quarter. MetLife Investment Management LLC now owns 1,023,171 shares of the company’s stock worth $16,217,000 after buying an additional 974,275 shares in the last quarter. Adage Capital Partners GP L.L.C. purchased a new stake in NETSTREIT in the first quarter worth about $9,397,000. Finally, Strs Ohio purchased a new stake in NETSTREIT in the first quarter worth about $8,676,000.

Analyst Ratings Changes

NTST has been the subject of several research analyst reports. Raymond James Financial reiterated a “strong-buy” rating and set a $21.00 target price on shares of NETSTREIT in a research report on Wednesday, July 30th. Truist Financial set a $19.00 price objective on NETSTREIT in a research note on Friday, July 25th. 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. Scotiabank reiterated an “outperform” rating on shares of NETSTREIT in a report on Wednesday, August 27th. Finally, Wells Fargo & Company increased their price target on NETSTREIT from $18.00 to $20.00 and gave the stock an “overweight” rating in a report on Wednesday, August 27th. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $20.20.

Insider Buying and Selling

In other news, CEO Mark Manheimer acquired 5,600 shares of NETSTREIT stock in a transaction on Friday, September 5th. The shares were bought at an average cost of $17.93 per share, for a total transaction of $100,408.00. Following the acquisition, the chief executive officer directly 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 purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.58% of the stock is owned by insiders.

NETSTREIT Trading Up 0.1%

NTST opened at $19.04 on Friday. The stock’s fifty day moving average is $18.35 and its two-hundred day moving average is $17.18. The company has a market capitalization of $1.59 billion, a P/E ratio of -238.00, a PEG ratio of 3.08 and a beta of 0.90. NETSTREIT Corp. has a 52 week low of $13.42 and a 52 week high of $19.21. The company has a quick ratio of 3.83, a current ratio of 3.83 and a debt-to-equity ratio of 0.70.

NETSTREIT Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Tuesday, September 2nd were issued a dividend of $0.215 per share. This represents a $0.86 annualized dividend and a yield of 4.5%. The ex-dividend date was Tuesday, September 2nd. This is an increase from NETSTREIT’s previous quarterly dividend of $0.21. NETSTREIT’s dividend payout ratio (DPR) is -1,075.00%.

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.