NETSTREIT Corp. (NYSE:NTST) Shares Acquired by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. increased its position in shares of NETSTREIT Corp. (NYSE:NTST) by 861.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,430 shares of the company’s stock after buying an additional 4,865 shares during the period. PNC Financial Services Group Inc.’s holdings in NETSTREIT were worth $77,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in NTST. Principal Financial Group Inc. lifted its stake in shares of NETSTREIT by 46.4% in the fourth 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 in the last quarter. Tributary Capital Management LLC purchased a new stake in NETSTREIT during the 4th quarter worth approximately $12,633,000. Sumitomo Mitsui Trust Group Inc. raised its position in shares of NETSTREIT by 36.7% in the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,207,703 shares of the company’s stock valued at $31,239,000 after purchasing an additional 592,439 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of NETSTREIT by 765.7% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 635,707 shares of the company’s stock valued at $10,508,000 after buying an additional 562,273 shares during the last quarter. Finally, Nordea Investment Management AB purchased a new position in shares of NETSTREIT during the 4th quarter valued at approximately $6,714,000.

Insider Transactions at NETSTREIT

In other news, CEO Mark Manheimer acquired 6,384 shares of the company’s stock in a transaction that occurred on Monday, March 10th. The shares were acquired at an average price of $15.33 per share, with a total value of $97,866.72. Following the acquisition, the chief executive officer now directly owns 304,572 shares in the company, valued at approximately $4,669,088.76. The trade was a 2.14 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In the last ninety days, insiders have purchased 12,000 shares of company stock worth $183,172. 0.46% of the stock is currently owned by company insiders.

NETSTREIT Price Performance

Shares of NYSE:NTST opened at $15.29 on Wednesday. The company has a market cap of $1.25 billion, a PE ratio of -254.79 and a beta of 0.99. NETSTREIT Corp. has a fifty-two week low of $13.42 and a fifty-two week high of $18.97. The firm has a 50-day simple moving average of $14.65 and a 200 day simple moving average of $15.24. The company has a quick ratio of 4.11, a current ratio of 4.11 and a debt-to-equity ratio of 0.57.

NETSTREIT Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders 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 dividend yield of 5.49%. The ex-dividend date is Friday, March 14th. NETSTREIT’s dividend payout ratio (DPR) is presently -525.00%.

Analyst Upgrades and Downgrades

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

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.