First Trust Advisors LP Has $191,000 Stake in NETSTREIT Corp. (NYSE:NTST)

First Trust Advisors LP decreased its position in NETSTREIT Corp. (NYSE:NTST) by 66.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 13,501 shares of the company’s stock after selling 27,306 shares during the period. First Trust Advisors LP’s holdings in NETSTREIT were worth $191,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. PNC Financial Services Group Inc. raised its holdings in shares of NETSTREIT by 861.1% during the fourth quarter. PNC Financial Services Group Inc. now owns 5,430 shares of the company’s stock valued at $77,000 after purchasing an additional 4,865 shares during the period. Prudent Man Advisors LLC acquired a new position in shares of NETSTREIT during the fourth quarter valued at about $143,000. Mariner LLC acquired a new position in shares of NETSTREIT during the fourth quarter valued at about $143,000. Envestnet Portfolio Solutions Inc. acquired a new position in shares of NETSTREIT during the fourth quarter valued at about $152,000. Finally, Proficio Capital Partners LLC acquired a new position in shares of NETSTREIT during the fourth quarter valued at about $179,000.

Insider Buying and Selling at NETSTREIT

In other news, CEO Mark Manheimer acquired 6,384 shares of the firm’s stock in a transaction 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 owns 304,572 shares in the company, valued at approximately $4,669,088.76. This represents a 2.14% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In the last 90 days, insiders bought 12,000 shares of company stock worth $183,172. Insiders own 0.58% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on NTST shares. Raymond James dropped their price objective on shares of NETSTREIT from $19.00 to $17.00 and set a “strong-buy” rating on the stock in a report on Friday, January 17th. Mizuho upped their target price on shares of NETSTREIT from $15.00 to $17.00 and gave the stock an “outperform” rating in a report on Thursday, April 3rd. Capital One Financial assumed coverage on shares of NETSTREIT in a report on Wednesday, February 12th. They issued an “overweight” rating on the stock. Finally, Wells Fargo & Company assumed 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. One investment analyst has rated the stock with a hold rating, six have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $18.03.

NETSTREIT Trading Up 1.2%

NYSE:NTST opened at $16.17 on Monday. 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 cap of $1.32 billion, a price-to-earnings ratio of -269.46 and a beta of 0.90. NETSTREIT Corp. has a 52 week low of $13.42 and a 52 week high of $18.10. The firm has a 50-day moving average price of $15.57 and a two-hundred day moving average price of $15.10.

NETSTREIT Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Monday, June 2nd will be paid a $0.21 dividend. The ex-dividend date of this dividend is Monday, June 2nd. This represents a $0.84 annualized dividend and a yield of 5.19%. NETSTREIT’s dividend payout ratio (DPR) is -560.00%.

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.