Insider Buying: NETSTREIT Corp. (NYSE:NTST) CEO Buys 3,616 Shares of Stock

NETSTREIT Corp. (NYSE:NTST) CEO Mark Manheimer acquired 3,616 shares of the stock in a transaction dated Friday, March 7th. The stock was acquired at an average cost of $15.22 per share, with a total value of $55,035.52. Following the transaction, the chief executive officer now owns 295,252 shares of the company’s stock, valued at approximately $4,493,735.44. This trade represents a 1.24 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

NETSTREIT Trading Up 2.3 %

Shares of NETSTREIT stock traded up $0.35 during trading hours on Monday, hitting $15.52. The company’s stock had a trading volume of 85,278 shares, compared to its average volume of 817,365. 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 company has a market capitalization of $1.27 billion, a PE ratio of -259.31 and a beta of 0.99. The business has a fifty day moving average of $14.32 and a 200 day moving average of $15.37. NETSTREIT Corp. has a 1-year low of $13.42 and a 1-year high of $18.97.

NETSTREIT Dividend Announcement

The business 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 annualized dividend and a yield of 5.41%. The ex-dividend date of this dividend is Friday, March 14th. NETSTREIT’s dividend payout ratio (DPR) is presently -525.00%.

Wall Street Analysts Forecast Growth

NTST has been the topic of a number of research analyst reports. Mizuho decreased 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. Scotiabank raised shares of NETSTREIT from a “sector perform” rating to a “sector outperform” rating and raised their target price for the stock from $16.00 to $18.00 in a research report on Monday, November 11th. Capital One Financial assumed coverage on shares of NETSTREIT in a research report on Wednesday, February 12th. They set an “overweight” rating for the company. Truist Financial decreased their price target 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. Finally, Raymond James lowered their price objective on shares of NETSTREIT from $19.00 to $17.00 and set a “strong-buy” rating for the company in a research note on Friday, January 17th. One analyst has rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $17.75.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of NTST. American Century Companies Inc. grew its stake in shares of NETSTREIT by 3.3% in the fourth quarter. American Century Companies Inc. now owns 24,400 shares of the company’s stock valued at $345,000 after buying an additional 781 shares in the last quarter. Daiwa Securities Group Inc. grew its position in NETSTREIT by 3.1% in the fourth quarter. Daiwa Securities Group Inc. now owns 26,383 shares of the company’s stock valued at $373,000 after acquiring an additional 789 shares in the last quarter. Natixis Advisors LLC grew its position in NETSTREIT by 3.7% in the third quarter. Natixis Advisors LLC now owns 26,051 shares of the company’s stock valued at $431,000 after acquiring an additional 941 shares in the last quarter. Carmel Capital Partners LLC lifted its position in shares of NETSTREIT by 4.7% during the fourth quarter. Carmel Capital Partners LLC now owns 26,180 shares of the company’s stock worth $370,000 after purchasing an additional 1,174 shares in the last quarter. Finally, QSV Equity Investors LLC boosted its stake in shares of NETSTREIT by 1.6% in the third quarter. QSV Equity Investors LLC now owns 77,533 shares of the company’s stock valued at $1,282,000 after purchasing an additional 1,214 shares during the period.

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.