Connor Clark & Lunn Investment Management Ltd. Sells 17,746 Shares of NETSTREIT Corp. (NYSE:NTST)

Connor Clark & Lunn Investment Management Ltd. reduced its stake in NETSTREIT Corp. (NYSE:NTST) by 18.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 76,828 shares of the company’s stock after selling 17,746 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned about 0.09% of NETSTREIT worth $1,087,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in the stock. PNC Financial Services Group Inc. lifted its position in NETSTREIT by 861.1% in the 4th quarter. PNC Financial Services Group Inc. now owns 5,430 shares of the company’s stock valued at $77,000 after acquiring an additional 4,865 shares in the last quarter. Hohimer Wealth Management LLC bought a new position in NETSTREIT in the 3rd quarter valued at approximately $166,000. Prudent Man Advisors LLC bought a new position in NETSTREIT in the 4th quarter valued at approximately $143,000. Sanctuary Advisors LLC bought a new position in NETSTREIT in the 3rd quarter valued at approximately $169,000. Finally, Infrastructure Capital Advisors LLC bought a new position in NETSTREIT in the 3rd quarter valued at approximately $177,000.

Insider Transactions at NETSTREIT

In related news, CEO Mark Manheimer acquired 6,384 shares of NETSTREIT stock in a transaction dated Monday, March 10th. The stock was purchased at an average cost of $15.33 per share, for a total transaction of $97,866.72. Following the purchase, the chief executive officer now directly owns 304,572 shares of the company’s stock, valued at approximately $4,669,088.76. This trade represents a 2.14 % increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Insiders purchased 12,000 shares of company stock worth $183,172 in the last three months. Corporate insiders own 0.46% of the company’s stock.

NETSTREIT Trading Down 0.2 %

NYSE:NTST opened at $15.34 on Friday. 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 firm has a market capitalization of $1.25 billion, a price-to-earnings ratio of -255.54 and a beta of 0.99. NETSTREIT Corp. has a one year low of $13.42 and a one year high of $18.97. The business has a fifty day moving average price of $14.56 and a 200-day moving average price of $15.29.

NETSTREIT Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 14th will be paid a $0.21 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $0.84 annualized dividend and a dividend yield of 5.48%. NETSTREIT’s dividend payout ratio (DPR) is -525.00%.

Analyst Ratings Changes

NTST has been the topic of several analyst reports. Mizuho lowered their price objective on NETSTREIT from $17.00 to $15.00 and set an “outperform” rating on the stock in a research report on Wednesday, January 8th. Truist Financial decreased their target price on shares of NETSTREIT from $20.00 to $19.00 and set a “buy” rating for the company in a research note on Thursday, December 5th. Raymond James decreased 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 note on Friday, January 17th. Finally, Capital One Financial started coverage on shares of NETSTREIT in a research note on Wednesday, February 12th. They set an “overweight” rating for the company. One analyst has rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $17.75.

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.