NETSTREIT Corp. (NYSE:NTST) CEO Mark Manheimer Purchases 3,616 Shares

NETSTREIT Corp. (NYSE:NTST) CEO Mark Manheimer bought 3,616 shares of the business’s stock in a transaction dated Friday, March 7th. The shares were bought at an average cost of $15.22 per share, for a total transaction of $55,035.52. Following the completion of the transaction, the chief executive officer now directly owns 295,252 shares of the company’s stock, valued at $4,493,735.44. This trade represents a 1.24 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link.

NETSTREIT Stock Up 0.2 %

NYSE:NTST opened at $15.21 on Tuesday. The business’s fifty day moving average price is $14.35 and its 200 day moving average price is $15.36. The company has a current ratio of 4.11, a quick ratio of 4.11 and a debt-to-equity ratio of 0.57. NETSTREIT Corp. has a 1-year low of $13.42 and a 1-year high of $18.97. The firm has a market capitalization of $1.24 billion, a price-to-earnings ratio of -253.37 and a beta of 0.99.

NETSTREIT Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders 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 5.52%. NETSTREIT’s dividend payout ratio (DPR) is currently -525.00%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Lazard Asset Management LLC purchased a new position in NETSTREIT in the fourth quarter valued at about $41,000. PNC Financial Services Group Inc. grew its stake in NETSTREIT by 861.1% in 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 in the last quarter. Comerica Bank grew its stake in NETSTREIT by 174.3% in the fourth quarter. Comerica Bank now owns 9,703 shares of the company’s stock valued at $137,000 after purchasing an additional 6,166 shares in the last quarter. Hohimer Wealth Management LLC purchased a new position in NETSTREIT in the third quarter valued at about $166,000. Finally, Mariner LLC purchased a new position in NETSTREIT in the fourth quarter valued at about $143,000.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on NTST shares. Mizuho cut their target price on NETSTREIT from $17.00 to $15.00 and set an “outperform” rating on the stock in a research report on Wednesday, January 8th. Truist Financial cut their target price on NETSTREIT from $20.00 to $19.00 and set a “buy” rating on the stock in a research report on Thursday, December 5th. Scotiabank raised NETSTREIT from a “sector perform” rating to a “sector outperform” rating and boosted their target price for the stock from $16.00 to $18.00 in a research report on Monday, November 11th. Raymond James dropped their price target on NETSTREIT from $19.00 to $17.00 and set a “strong-buy” rating on the stock in a research report on Friday, January 17th. Finally, Capital One Financial started coverage on NETSTREIT in a research report on Wednesday, February 12th. They set an “overweight” rating on the stock. One equities research analyst has rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Buy” and an average target price of $17.75.

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.