Proficio Capital Partners LLC Purchases Shares of 12,664 NETSTREIT Corp. (NYSE:NTST)

Proficio Capital Partners LLC purchased a new stake in NETSTREIT Corp. (NYSE:NTST) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 12,664 shares of the company’s stock, valued at approximately $179,000.

A number of other hedge funds also recently made changes to their positions in NTST. Victory Capital Management Inc. lifted its position in shares of NETSTREIT by 22.4% during the 4th quarter. Victory Capital Management Inc. now owns 104,638 shares of the company’s stock valued at $1,481,000 after acquiring an additional 19,138 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in shares of NETSTREIT by 5.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,133,552 shares of the company’s stock valued at $16,040,000 after purchasing an additional 55,378 shares during the period. Prudent Man Advisors LLC bought a new position in shares of NETSTREIT during the 4th quarter worth about $143,000. US Bancorp DE boosted its position in shares of NETSTREIT by 743.0% during the 4th quarter. US Bancorp DE now owns 14,297 shares of the company’s stock worth $202,000 after purchasing an additional 12,601 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its stake in shares of NETSTREIT by 7.6% in the 4th quarter. Bank of New York Mellon Corp now owns 346,688 shares of the company’s stock valued at $4,906,000 after buying an additional 24,442 shares during the period.

Analyst Upgrades and Downgrades

NTST has been the topic of a number of research reports. Mizuho dropped their price target on NETSTREIT from $17.00 to $15.00 and set an “outperform” rating on the stock in a research note on Wednesday, January 8th. 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 reduced their price target on shares of NETSTREIT from $19.00 to $17.00 and set a “strong-buy” rating for the company in a research report on Friday, January 17th. Finally, Truist Financial lowered their price objective 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. One 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 company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $17.75.

NETSTREIT Price Performance

NTST opened at $15.60 on Friday. NETSTREIT Corp. has a 1 year low of $13.42 and a 1 year high of $18.97. 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 company has a market capitalization of $1.27 billion, a price-to-earnings ratio of -259.87 and a beta of 0.99. The firm’s fifty day moving average price is $14.69 and its two-hundred day moving average price is $15.24.

NETSTREIT Dividend Announcement

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 $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 5.39%. The ex-dividend date is Friday, March 14th. NETSTREIT’s payout ratio is -525.00%.

Insiders Place Their Bets

In other NETSTREIT news, CEO Mark Manheimer acquired 3,616 shares of NETSTREIT stock in a transaction on Friday, March 7th. The stock was purchased at an average price of $15.22 per share, for a total transaction of $55,035.52. Following the purchase, the chief executive officer now directly owns 295,252 shares of the company’s stock, valued at $4,493,735.44. This trade represents a 1.24 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In the last ninety days, insiders bought 12,000 shares of company stock valued at $183,172. Corporate insiders own 0.46% of the company’s stock.

About NETSTREIT

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.