Commonwealth of Pennsylvania Public School Empls Retrmt SYS Acquires 11,647 Shares of NETSTREIT Corp. (NYSE:NTST)

Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its holdings in shares of NETSTREIT Corp. (NYSE:NTST) by 86.3% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 25,147 shares of the company’s stock after acquiring an additional 11,647 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in NETSTREIT were worth $356,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the stock. PNC Financial Services Group Inc. increased its holdings 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 during the last quarter. Prudent Man Advisors LLC bought a new stake in shares of NETSTREIT in the 4th quarter valued at about $143,000. Envestnet Portfolio Solutions Inc. acquired a new stake in shares of NETSTREIT in the 4th quarter valued at approximately $152,000. Hohimer Wealth Management LLC bought a new position in NETSTREIT during the 3rd quarter worth approximately $166,000. Finally, Sanctuary Advisors LLC acquired a new position in NETSTREIT during the third quarter valued at approximately $169,000.

NETSTREIT Stock Performance

Shares of NETSTREIT stock opened at $15.60 on Friday. The company has a debt-to-equity ratio of 0.57, a current ratio of 4.11 and a quick ratio of 4.11. The firm has a market cap of $1.27 billion, a price-to-earnings ratio of -259.87 and a beta of 0.99. The stock’s 50-day moving average is $14.69 and its 200-day moving average is $15.24. NETSTREIT Corp. has a one year low of $13.42 and a one year high of $18.97.

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. This represents a $0.84 annualized dividend and a yield of 5.39%. The ex-dividend date is Friday, March 14th. NETSTREIT’s payout ratio is -525.00%.

Insiders Place Their Bets

In other NETSTREIT news, CEO Mark Manheimer acquired 6,384 shares of the business’s stock in a transaction dated Monday, March 10th. The shares were acquired at an average price of $15.33 per share, with a total value of $97,866.72. Following the completion of the transaction, the chief executive officer now directly owns 304,572 shares in the company, valued at $4,669,088.76. This trade represents a 2.14 % increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders bought a total of 12,000 shares of company stock valued at $183,172 in the last quarter. 0.46% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

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