Avantax Advisory Services Inc. Cuts Stock Position in NETSTREIT Corp. (NYSE:NTST)

Avantax Advisory Services Inc. decreased its position in NETSTREIT Corp. (NYSE:NTST) by 11.3% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 12,449 shares of the company’s stock after selling 1,584 shares during the quarter. Avantax Advisory Services Inc.’s holdings in NETSTREIT were worth $176,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Natixis Advisors LLC lifted its holdings in shares of NETSTREIT by 3.7% in the 3rd quarter. Natixis Advisors LLC now owns 26,051 shares of the company’s stock worth $431,000 after acquiring an additional 941 shares during the last quarter. Intech Investment Management LLC purchased a new stake in NETSTREIT during the third quarter valued at about $324,000. Charles Schwab Investment Management Inc. grew its stake in shares of NETSTREIT by 9.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,078,174 shares of the company’s stock valued at $17,822,000 after buying an additional 95,433 shares during the last quarter. Daiwa Securities Group Inc. grew its stake in shares of NETSTREIT by 12.9% during the third quarter. Daiwa Securities Group Inc. now owns 25,594 shares of the company’s stock valued at $423,000 after buying an additional 2,915 shares during the last quarter. Finally, Dynamic Technology Lab Private Ltd purchased a new position in shares of NETSTREIT in the third quarter worth about $236,000.

NETSTREIT Stock Performance

Shares of NTST opened at $15.60 on Friday. The company has a 50-day simple moving average of $14.69 and a two-hundred day simple moving average of $15.24. The company has a debt-to-equity ratio of 0.57, a current ratio of 4.11 and a quick ratio of 4.11. The firm has a market capitalization of $1.27 billion, a PE ratio of -259.87 and a beta of 0.99. NETSTREIT Corp. has a one year low of $13.42 and a one year high of $18.97.

NETSTREIT Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be given a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 5.39%. The ex-dividend date of this dividend is Friday, March 14th. NETSTREIT’s dividend payout ratio is currently -525.00%.

Analyst Ratings Changes

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

Insider Activity

In related news, CEO Mark Manheimer acquired 3,616 shares of the stock in a transaction 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 purchase, the chief executive officer now owns 295,252 shares of the company’s stock, valued at $4,493,735.44. This represents a 1.24 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In the last 90 days, insiders have acquired 12,000 shares of company stock worth $183,172. Corporate insiders own 0.46% of the company’s stock.

NETSTREIT 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.