Arizona State Retirement System Raises Stock Position in NETSTREIT Corp. (NYSE:NTST)

Arizona State Retirement System grew its holdings in NETSTREIT Corp. (NYSE:NTST) by 6.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 22,456 shares of the company’s stock after purchasing an additional 1,331 shares during the quarter. Arizona State Retirement System’s holdings in NETSTREIT were worth $318,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in NTST. Principal Financial Group Inc. boosted its position in NETSTREIT by 46.4% in the 4th quarter. Principal Financial Group Inc. now owns 4,800,208 shares of the company’s stock valued at $67,924,000 after buying an additional 1,521,668 shares during the period. State Street Corp boosted its holdings in NETSTREIT by 2.9% in the third quarter. State Street Corp now owns 3,104,081 shares of the company’s stock valued at $51,310,000 after purchasing an additional 87,669 shares during the period. Rush Island Management LP grew its stake in NETSTREIT by 18.0% during the 3rd quarter. Rush Island Management LP now owns 2,364,964 shares of the company’s stock worth $39,093,000 after purchasing an additional 359,993 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. increased its holdings in NETSTREIT by 36.7% during the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,207,703 shares of the company’s stock worth $31,239,000 after purchasing an additional 592,439 shares during the period. Finally, Geode Capital Management LLC increased its holdings in NETSTREIT by 6.0% during the 3rd quarter. Geode Capital Management LLC now owns 1,980,800 shares of the company’s stock worth $32,748,000 after purchasing an additional 112,047 shares during the period.

NETSTREIT Trading Up 1.6 %

Shares of NETSTREIT stock opened at $15.24 on Friday. The company has a current ratio of 4.11, a quick ratio of 4.11 and a debt-to-equity ratio of 0.57. The company has a fifty day simple moving average of $14.43 and a 200-day simple moving average of $15.32. The stock has a market cap of $1.24 billion, a price-to-earnings ratio of -253.87 and a beta of 0.99. NETSTREIT Corp. has a 12-month low of $13.42 and a 12-month high of $18.97.

NETSTREIT Announces Dividend

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 issued a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 5.51%. The ex-dividend date is Friday, March 14th. NETSTREIT’s payout ratio is -525.00%.

Insider Transactions at NETSTREIT

In other NETSTREIT news, CEO Mark Manheimer purchased 6,384 shares of the firm’s stock in a transaction that occurred on Monday, March 10th. The stock was purchased at an average price 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 in the company, valued at approximately $4,669,088.76. This trade represents a 2.14 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last 90 days, insiders have bought 12,000 shares of company stock worth $183,172. Corporate insiders own 0.46% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on NTST shares. Truist Financial lowered their price objective on NETSTREIT from $20.00 to $19.00 and set a “buy” rating for the company in a research report on Thursday, December 5th. Raymond James lowered their price target on shares of NETSTREIT from $19.00 to $17.00 and set a “strong-buy” rating for the company in a report on Friday, January 17th. Mizuho reduced their price objective on shares of NETSTREIT from $17.00 to $15.00 and set an “outperform” rating on the stock in a report on Wednesday, January 8th. Finally, Capital One Financial assumed coverage on shares of NETSTREIT in a research note on Wednesday, February 12th. They set an “overweight” rating for the company. One investment 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 company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price 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.