NETSTREIT Corp. (NYSE:NTST) Stock Holdings Increased by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. grew its holdings in shares of NETSTREIT Corp. (NYSE:NTST) by 861.1% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 5,430 shares of the company’s stock after acquiring an additional 4,865 shares during the quarter. PNC Financial Services Group Inc.’s holdings in NETSTREIT were worth $77,000 as of its most recent SEC filing.

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

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on NTST shares. Raymond James dropped their target price on NETSTREIT from $19.00 to $17.00 and set a “strong-buy” rating on the stock in a report on Friday, January 17th. Truist Financial dropped their price objective on NETSTREIT from $20.00 to $19.00 and set a “buy” rating on the stock in a research note on Thursday, December 5th. Mizuho decreased their target price on 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 NETSTREIT in a report on Wednesday, February 12th. They set an “overweight” rating on the stock. One research analyst has rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $17.75.

Insiders Place Their Bets

In other news, CEO Mark Manheimer acquired 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, with a total value of $97,866.72. Following the purchase, the chief executive officer now 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 legal filing with the SEC, which is available at the SEC website. In the last quarter, insiders have purchased 12,000 shares of company stock worth $183,172. Company insiders own 0.46% of the company’s stock.

NETSTREIT Stock Performance

Shares of NYSE NTST opened at $15.29 on Wednesday. The stock’s fifty day simple moving average is $14.65 and its 200 day simple moving average is $15.24. The stock has a market capitalization of $1.25 billion, a price-to-earnings ratio of -254.79 and a beta of 0.99. 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 52-week low of $13.42 and a 52-week high of $18.97.

NETSTREIT Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors 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 dividend on an annualized basis and a yield of 5.49%. NETSTREIT’s dividend payout ratio is currently -525.00%.

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.