NETSTREIT Corp. (NYSE:NTST) Stake Increased by Geode Capital Management LLC

Geode Capital Management LLC boosted its stake in NETSTREIT Corp. (NYSE:NTST) by 2.1% during the 4th quarter, HoldingsChannel reports. The fund owned 2,022,772 shares of the company’s stock after buying an additional 41,972 shares during the period. Geode Capital Management LLC’s holdings in NETSTREIT were worth $28,628,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in NTST. Stifel Financial Corp bought a new stake in shares of NETSTREIT in the 3rd quarter worth about $480,000. State Street Corp grew its stake in NETSTREIT by 2.9% in the third quarter. State Street Corp now owns 3,104,081 shares of the company’s stock worth $51,310,000 after purchasing an additional 87,669 shares in the last quarter. Public Employees Retirement System of Ohio increased its holdings in NETSTREIT by 6.3% in the third quarter. Public Employees Retirement System of Ohio now owns 110,433 shares of the company’s stock valued at $1,825,000 after buying an additional 6,560 shares during the last quarter. Barclays PLC raised its stake in NETSTREIT by 216.9% during the third quarter. Barclays PLC now owns 123,066 shares of the company’s stock valued at $2,033,000 after buying an additional 84,226 shares in the last quarter. Finally, Sanctuary Advisors LLC bought a new position in NETSTREIT during the 3rd quarter worth approximately $169,000.

NETSTREIT Trading Up 2.3 %

NETSTREIT stock opened at $16.48 on Friday. NETSTREIT Corp. has a 52 week low of $13.42 and a 52 week high of $18.10. 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 $1.35 billion, a price-to-earnings ratio of -274.54 and a beta of 0.91. The company has a 50 day moving average price of $15.04 and a 200 day moving average price of $15.11.

NETSTREIT Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Friday, March 14th were issued a dividend of $0.21 per share. The ex-dividend date of this dividend was Friday, March 14th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 5.10%. NETSTREIT’s dividend payout ratio is -525.00%.

Analysts Set New Price Targets

Several equities analysts have recently commented on NTST shares. Mizuho upped their target price on NETSTREIT from $15.00 to $17.00 and gave the company an “outperform” rating in a report on Thursday, April 3rd. Raymond James decreased their price target on NETSTREIT from $19.00 to $17.00 and set a “strong-buy” rating for the company in a research note on Friday, January 17th. Wells Fargo & Company started coverage on shares of NETSTREIT in a report on Monday, April 7th. They issued an “overweight” rating and a $18.00 target price on the stock. Finally, Capital One Financial began coverage on shares of NETSTREIT in a report 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 issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $18.03.

Insider Activity at NETSTREIT

In other NETSTREIT news, CEO Mark Manheimer bought 6,384 shares of the stock in a transaction on Monday, March 10th. The shares were bought 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 directly owns 304,572 shares in the company, valued at $4,669,088.76. The trade was a 2.14 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Over the last ninety days, insiders have acquired 12,000 shares of company stock valued at $183,172. Company 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.