NETSTREIT Corp. (NYSE:NTST) Shares Bought by Alliancebernstein L.P.

Alliancebernstein L.P. grew its position in NETSTREIT Corp. (NYSE:NTST) by 12.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,882,658 shares of the company’s stock after buying an additional 206,357 shares during the quarter. Alliancebernstein L.P.’s holdings in NETSTREIT were worth $26,640,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. American Century Companies Inc. boosted its holdings in NETSTREIT by 3.3% during the 4th quarter. American Century Companies Inc. now owns 24,400 shares of the company’s stock valued at $345,000 after acquiring an additional 781 shares during the period. Daiwa Securities Group Inc. lifted its position in shares of NETSTREIT by 3.1% during the fourth quarter. Daiwa Securities Group Inc. now owns 26,383 shares of the company’s stock worth $373,000 after purchasing an additional 789 shares in the last quarter. Carmel Capital Partners LLC boosted its stake in shares of NETSTREIT by 4.7% in the fourth quarter. Carmel Capital Partners LLC now owns 26,180 shares of the company’s stock valued at $370,000 after purchasing an additional 1,174 shares during the period. Arizona State Retirement System grew its holdings in shares of NETSTREIT by 6.3% in the fourth quarter. Arizona State Retirement System now owns 22,456 shares of the company’s stock valued at $318,000 after purchasing an additional 1,331 shares in the last quarter. Finally, Van ECK Associates Corp increased its stake in NETSTREIT by 10.2% during the 4th quarter. Van ECK Associates Corp now owns 14,729 shares of the company’s stock worth $208,000 after buying an additional 1,366 shares during the period.

Wall Street Analysts Forecast Growth

NTST has been the subject of several research reports. Mizuho boosted their price target on shares of NETSTREIT from $15.00 to $17.00 and gave the stock an “outperform” rating in a research note on Thursday. Capital One Financial began coverage on NETSTREIT in a research note on Wednesday, February 12th. They issued an “overweight” rating for the company. Finally, Raymond James cut their target price 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 investment 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 MarketBeat, NETSTREIT presently has an average rating of “Buy” and an average target price of $18.04.

NETSTREIT Price Performance

Shares of NYSE NTST opened at $15.31 on Monday. The stock’s 50-day simple moving average is $14.84 and its 200-day simple moving average is $15.16. The company has a debt-to-equity ratio of 0.57, a quick ratio of 4.11 and a current ratio of 4.11. The firm has a market capitalization of $1.25 billion, a PE ratio of -255.16 and a beta of 0.91. NETSTREIT Corp. has a fifty-two week low of $13.42 and a fifty-two week high of $18.10.

NETSTREIT Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Friday, March 14th were given a dividend of $0.21 per share. The ex-dividend date of this dividend was Friday, March 14th. This represents a $0.84 annualized dividend and a dividend yield of 5.49%. NETSTREIT’s dividend payout ratio is presently -525.00%.

Insider Activity

In other news, CEO Mark Manheimer bought 3,616 shares of NETSTREIT 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 acquisition, 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 acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. In the last quarter, insiders purchased 12,000 shares of company stock worth $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.