Bank of New York Mellon Corp Purchases 24,442 Shares of NETSTREIT Corp. (NYSE:NTST)

Bank of New York Mellon Corp increased its stake in shares of NETSTREIT Corp. (NYSE:NTST) by 7.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 346,688 shares of the company’s stock after purchasing an additional 24,442 shares during the period. Bank of New York Mellon Corp owned approximately 0.42% of NETSTREIT worth $4,906,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Y Intercept Hong Kong Ltd boosted its holdings in shares of NETSTREIT by 162.9% in the fourth quarter. Y Intercept Hong Kong Ltd now owns 72,643 shares of the company’s stock valued at $1,028,000 after buying an additional 45,007 shares during the period. New York State Common Retirement Fund increased its position in NETSTREIT by 913.4% during the fourth quarter. New York State Common Retirement Fund now owns 230,897 shares of the company’s stock worth $3,267,000 after buying an additional 208,113 shares during the last quarter. Principal Financial Group Inc. boosted its position in NETSTREIT by 46.4% during the fourth quarter. Principal Financial Group Inc. now owns 4,800,208 shares of the company’s stock worth $67,924,000 after purchasing an additional 1,521,668 shares during the period. State of New Jersey Common Pension Fund D boosted its holdings in shares of NETSTREIT by 13.9% during the 4th quarter. State of New Jersey Common Pension Fund D now owns 131,692 shares of the company’s stock worth $1,863,000 after buying an additional 16,032 shares during the period. Finally, Rhumbline Advisers boosted its holdings in shares of NETSTREIT by 5.9% during the fourth quarter. Rhumbline Advisers now owns 133,894 shares of the company’s stock worth $1,895,000 after acquiring an additional 7,477 shares during the period.

NETSTREIT Price Performance

Shares of NYSE:NTST opened at $15.38 on Tuesday. The company has a current ratio of 4.11, a quick ratio of 4.11 and a debt-to-equity ratio of 0.57. The stock has a market cap of $1.26 billion, a PE ratio of -256.21 and a beta of 0.99. The stock’s fifty day simple moving average is $14.46 and its two-hundred day simple moving average is $15.30. NETSTREIT Corp. has a 1-year low of $13.42 and a 1-year high of $18.97.

NETSTREIT Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be issued a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 5.46%. The ex-dividend date is Friday, March 14th. NETSTREIT’s dividend payout ratio (DPR) is presently -525.00%.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on NTST. Capital One Financial began coverage on NETSTREIT in a research report on Wednesday, February 12th. They issued an “overweight” rating on the stock. Raymond James dropped their target price on NETSTREIT from $19.00 to $17.00 and set a “strong-buy” rating for the company in a research report on Friday, January 17th. Mizuho lowered their target price on NETSTREIT from $17.00 to $15.00 and set an “outperform” rating for the company in a research report on Wednesday, January 8th. Finally, Truist Financial dropped their price target on shares of NETSTREIT from $20.00 to $19.00 and set a “buy” rating on the stock in a research report on Thursday, December 5th. One equities research analyst has rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $17.75.

Insiders Place Their Bets

In related news, CEO Mark Manheimer acquired 3,616 shares of the firm’s stock in a transaction that occurred on Friday, March 7th. The stock was acquired at an average price of $15.22 per share, for a total transaction of $55,035.52. Following the completion of the acquisition, the chief executive officer now owns 295,252 shares of the company’s stock, valued at approximately $4,493,735.44. This represents a 1.24 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In the last ninety days, insiders bought 12,000 shares of company stock valued at $183,172. Corporate insiders own 0.46% of the company’s stock.

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.