Insider Buying: NETSTREIT Corp. (NYSE:NTST) CEO Acquires 6,384 Shares of Stock

NETSTREIT Corp. (NYSE:NTST) CEO Mark Manheimer purchased 6,384 shares of the stock in a transaction dated Monday, March 10th. The shares were acquired at an average price of $15.33 per share, for a total transaction of $97,866.72. Following the acquisition, the chief executive officer now directly owns 304,572 shares of the company’s stock, valued at $4,669,088.76. This represents a 2.14 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Mark Manheimer also recently made the following trade(s):

• On Friday, March 7th, Mark Manheimer acquired 3,616 shares of NETSTREIT stock. The shares were acquired at an average price of $15.22 per share, with a total value of $55,035.52.

NETSTREIT Stock Down 1.1 %

Shares of NTST traded down $0.17 during mid-day trading on Wednesday, hitting $14.75. 43,457 shares of the company’s stock were exchanged, compared to its average volume of 827,027. The stock has a market cap of $1.20 billion, a price-to-earnings ratio of -246.56 and a beta of 0.99. The firm has a fifty day moving average of $14.37 and a two-hundred day moving average of $15.35. The company has a quick ratio of 4.11, a current ratio of 4.11 and a debt-to-equity ratio of 0.57. NETSTREIT Corp. has a twelve month low of $13.42 and a twelve month high of $18.97.

NETSTREIT Dividend Announcement

The firm 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 dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 5.69%. The ex-dividend date is Friday, March 14th. NETSTREIT’s payout ratio is -525.00%.

Hedge Funds Weigh In On NETSTREIT

Several institutional investors have recently bought and sold shares of NTST. Nordea Investment Management AB acquired a new position in shares of NETSTREIT during the 4th quarter valued at about $6,714,000. JPMorgan Chase & Co. boosted its position in NETSTREIT by 173.9% during the third quarter. JPMorgan Chase & Co. now owns 569,527 shares of the company’s stock worth $9,414,000 after purchasing an additional 361,577 shares during the period. Sumitomo Mitsui Trust Group Inc. grew its holdings in NETSTREIT by 1,931.7% during 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 purchasing an additional 1,535,761 shares during the last quarter. Vestcor Inc bought a new position in shares of NETSTREIT in the third quarter valued at approximately $913,000. Finally, Geode Capital Management LLC lifted its stake in shares of 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 buying an additional 112,047 shares during the last quarter.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the company. Truist Financial dropped their target price on NETSTREIT from $20.00 to $19.00 and set a “buy” rating on the stock in a report on Thursday, December 5th. Raymond James cut their target price 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. Mizuho decreased their target price 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. Finally, Capital One Financial started 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 company. Based on data from MarketBeat.com, NETSTREIT presently has an average rating of “Buy” and an average price target of $17.75.

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.