Silvercrest Asset Management Group LLC Sells 114,048 Shares of NETSTREIT Corp. (NYSE:NTST)

Silvercrest Asset Management Group LLC reduced its holdings in NETSTREIT Corp. (NYSE:NTST) by 10.5% during the fourth quarter, Holdings Channel.com reports. The fund owned 971,325 shares of the company’s stock after selling 114,048 shares during the quarter. Silvercrest Asset Management Group LLC’s holdings in NETSTREIT were worth $13,744,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in NTST. Principal Financial Group Inc. increased its stake in NETSTREIT by 46.4% in the 4th quarter. Principal Financial Group Inc. now owns 4,800,208 shares of the company’s stock worth $67,924,000 after acquiring an additional 1,521,668 shares during the last quarter. Tributary Capital Management LLC bought a new position in NETSTREIT in the 4th quarter worth about $12,633,000. Hudson Bay Capital Management LP increased its position in shares of NETSTREIT by 195.9% during the 4th quarter. Hudson Bay Capital Management LP now owns 1,338,746 shares of the company’s stock valued at $18,943,000 after purchasing an additional 886,283 shares during the last quarter. DigitalBridge Group Inc. increased its position in shares of NETSTREIT by 1,175.4% during the 4th quarter. DigitalBridge Group Inc. now owns 953,968 shares of the company’s stock valued at $13,499,000 after purchasing an additional 879,168 shares during the last quarter. Finally, Lasalle Investment Management Securities LLC increased its position in shares of NETSTREIT by 30.8% during the 4th quarter. Lasalle Investment Management Securities LLC now owns 3,449,229 shares of the company’s stock valued at $48,807,000 after purchasing an additional 811,632 shares during the last quarter.

Analyst Ratings Changes

NTST has been the topic of several recent research reports. Mizuho increased their price objective on NETSTREIT from $15.00 to $17.00 and gave the company an “outperform” rating in a research report on Thursday, April 3rd. Wells Fargo & Company initiated coverage on NETSTREIT in a research report on Monday, April 7th. They set an “overweight” rating and a $18.00 price objective on the stock. Finally, Capital One Financial initiated coverage on NETSTREIT in a research report on Wednesday, February 12th. They set an “overweight” rating on the stock. One equities research analyst has rated the stock with a hold rating, six have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, NETSTREIT currently has a consensus rating of “Buy” and an average target price of $18.03.

Insider Activity at NETSTREIT

In related news, CEO Mark Manheimer bought 3,616 shares of the company’s stock in a transaction that occurred on Friday, March 7th. The stock was bought at an average cost of $15.22 per share, for a total transaction of $55,035.52. Following the acquisition, the chief executive officer now directly owns 295,252 shares of the company’s stock, valued at $4,493,735.44. The trade was a 1.24% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders purchased 12,000 shares of company stock worth $183,172 in the last ninety days. 0.58% of the stock is owned by company insiders.

NETSTREIT Trading Up 1.2%

Shares of NTST stock opened at $15.91 on Friday. The stock has a market capitalization of $1.30 billion, a PE ratio of -265.11 and a beta of 0.90. NETSTREIT Corp. has a 1-year low of $13.42 and a 1-year high of $17.99. The business has a 50-day moving average of $15.64 and a 200 day moving average of $15.11. The company has a debt-to-equity ratio of 0.57, a current ratio of 4.11 and a quick ratio of 4.11.

NETSTREIT Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Monday, June 2nd will be issued a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 5.28%. The ex-dividend date of this dividend is Monday, June 2nd. NETSTREIT’s dividend payout ratio is presently -560.00%.

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.