Raymond James Financial Inc. Acquires Shares of 65,530 NETSTREIT Corp. (NYSE:NTST)

Raymond James Financial Inc. bought a new position in NETSTREIT Corp. (NYSE:NTST) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 65,530 shares of the company’s stock, valued at approximately $927,000. Raymond James Financial Inc. owned 0.08% of NETSTREIT at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Arizona State Retirement System boosted its stake in NETSTREIT by 6.3% in the 4th quarter. Arizona State Retirement System now owns 22,456 shares of the company’s stock worth $318,000 after purchasing an additional 1,331 shares during the period. Van ECK Associates Corp lifted its holdings in shares of NETSTREIT by 10.2% in the fourth quarter. Van ECK Associates Corp now owns 14,729 shares of the company’s stock valued at $208,000 after purchasing an additional 1,366 shares in the last quarter. The Manufacturers Life Insurance Company boosted its position in shares of NETSTREIT by 5.5% in the third quarter. The Manufacturers Life Insurance Company now owns 38,137 shares of the company’s stock worth $630,000 after buying an additional 2,001 shares during the period. Custom Index Systems LLC grew its holdings in shares of NETSTREIT by 30.1% during the fourth quarter. Custom Index Systems LLC now owns 13,363 shares of the company’s stock valued at $189,000 after buying an additional 3,090 shares in the last quarter. Finally, SG Americas Securities LLC raised its position in NETSTREIT by 12.9% during the fourth quarter. SG Americas Securities LLC now owns 37,604 shares of the company’s stock valued at $532,000 after buying an additional 4,284 shares during the period.

Insider Buying and Selling

In related news, CEO Mark Manheimer bought 3,616 shares of NETSTREIT stock in a transaction that occurred on Friday, March 7th. The stock was purchased 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 owns 295,252 shares in the company, valued at $4,493,735.44. This trade represents a 1.24 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Over the last three months, insiders acquired 12,000 shares of company stock worth $183,172. Corporate insiders own 0.46% of the company’s stock.

Wall Street Analysts Forecast Growth

NTST has been the subject of a number of research reports. Mizuho raised their price objective on NETSTREIT from $15.00 to $17.00 and gave the stock an “outperform” rating in a research report on Thursday. Raymond James decreased their price target on shares of NETSTREIT from $19.00 to $17.00 and set a “strong-buy” rating for the company in a report on Friday, January 17th. Finally, 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. One investment analyst has rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $18.04.

NETSTREIT Price Performance

Shares of NTST opened at $15.31 on Friday. The company has a debt-to-equity ratio of 0.57, a quick ratio of 4.11 and a current ratio of 4.11. The firm has a market cap of $1.25 billion, a PE ratio of -255.16 and a beta of 0.91. The firm’s 50 day moving average price is $14.84 and its 200 day moving average price is $15.18. NETSTREIT Corp. has a twelve month low of $13.42 and a twelve month high of $18.10.

NETSTREIT Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Friday, March 14th were issued a dividend of $0.21 per share. The ex-dividend date of this dividend was Friday, March 14th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 5.49%. NETSTREIT’s dividend payout ratio is currently -525.00%.

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.