Rhumbline Advisers Raises Stock Holdings in NETSTREIT Corp. (NYSE:NTST)

Rhumbline Advisers grew its holdings in shares of NETSTREIT Corp. (NYSE:NTST) by 5.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 133,894 shares of the company’s stock after buying an additional 7,477 shares during the quarter. Rhumbline Advisers owned 0.16% of NETSTREIT worth $1,895,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in NTST. Nordea Investment Management AB purchased a new position in NETSTREIT during the fourth quarter valued at approximately $6,714,000. JPMorgan Chase & Co. lifted its position in NETSTREIT by 173.9% during the third quarter. JPMorgan Chase & Co. now owns 569,527 shares of the company’s stock valued at $9,414,000 after acquiring an additional 361,577 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. boosted its stake in NETSTREIT by 1,931.7% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,615,264 shares of the company’s stock valued at $26,700,000 after acquiring an additional 1,535,761 shares in the last quarter. Vestcor Inc acquired a new stake in NETSTREIT in the third quarter valued at approximately $913,000. Finally, Geode Capital Management LLC grew its holdings in NETSTREIT by 6.0% in the third quarter. Geode Capital Management LLC now owns 1,980,800 shares of the company’s stock worth $32,748,000 after purchasing an additional 112,047 shares during the last quarter.

NETSTREIT Trading Up 0.1 %

NTST stock opened at $14.97 on Tuesday. NETSTREIT Corp. has a 12-month low of $13.42 and a 12-month high of $18.97. 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 business’s 50-day moving average is $14.25 and its 200 day moving average is $15.41. The stock has a market cap of $1.22 billion, a price-to-earnings ratio of -249.46 and a beta of 1.00.

NETSTREIT Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be issued a $0.21 dividend. The ex-dividend date is Friday, March 14th. This represents a $0.84 dividend on an annualized basis and a yield of 5.61%. NETSTREIT’s payout ratio is -525.00%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on NTST shares. Stifel Nicolaus lowered their price objective on shares of NETSTREIT from $19.50 to $19.25 and set a “buy” rating for the company in a research note on Tuesday, November 5th. Capital One Financial assumed coverage on shares of NETSTREIT in a report on Wednesday, February 12th. They set an “overweight” rating for the company. Mizuho lowered their price target on shares of NETSTREIT from $17.00 to $15.00 and set an “outperform” rating on the stock in a report on Wednesday, January 8th. Truist Financial cut their price target on NETSTREIT from $20.00 to $19.00 and set a “buy” rating on the stock in a research report on Thursday, December 5th. Finally, Raymond James dropped their price objective on shares of NETSTREIT from $19.00 to $17.00 and set a “strong-buy” rating on the stock in a research note on Friday, January 17th. One 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 data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $17.75.

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.