NETSTREIT Corp. (NYSE:NTST) Shares Bought by Swiss National Bank

Swiss National Bank lifted its holdings in NETSTREIT Corp. (NYSE:NTST) by 5.7% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 152,200 shares of the company’s stock after purchasing an additional 8,200 shares during the period. Swiss National Bank owned about 0.19% of NETSTREIT worth $2,154,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Principal Financial Group Inc. grew its position in 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 buying an additional 1,521,668 shares during the last quarter. Tributary Capital Management LLC acquired a new position in shares of NETSTREIT in the 4th quarter worth $12,633,000. Sumitomo Mitsui Trust Group Inc. raised its position in shares of NETSTREIT by 36.7% during the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,207,703 shares of the company’s stock worth $31,239,000 after purchasing an additional 592,439 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of NETSTREIT by 765.7% during the third 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 purchasing an additional 562,273 shares during the last quarter. Finally, Nordea Investment Management AB purchased a new stake in shares of NETSTREIT during the fourth quarter valued at $6,714,000.

Insider Transactions at NETSTREIT

In other NETSTREIT news, CEO Mark Manheimer acquired 6,384 shares of NETSTREIT stock in a transaction that occurred on Monday, March 10th. The stock was acquired at an average price of $15.33 per share, with a total value of $97,866.72. Following the purchase, the chief executive officer now owns 304,572 shares in the company, valued at approximately $4,669,088.76. This trade represents a 2.14 % 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. Insiders bought 12,000 shares of company stock valued at $183,172 in the last three months. Corporate insiders own 0.46% of the company’s stock.

Wall Street Analysts Forecast Growth

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

NETSTREIT Trading Up 1.7 %

NETSTREIT stock opened at $15.60 on Friday. NETSTREIT Corp. has a 12 month low of $13.42 and a 12 month high of $18.97. The company has a quick ratio of 4.11, a current ratio of 4.11 and a debt-to-equity ratio of 0.57. The stock has a market cap of $1.27 billion, a P/E ratio of -259.87 and a beta of 0.99. The company’s fifty day simple moving average is $14.69 and its 200-day simple moving average is $15.24.

NETSTREIT Announces Dividend

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

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.