ExodusPoint Capital Management LP Sells 464,013 Shares of NETSTREIT Corp. (NYSE:NTST)

ExodusPoint Capital Management LP decreased its stake in shares of NETSTREIT Corp. (NYSE:NTST) by 63.0% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 272,967 shares of the company’s stock after selling 464,013 shares during the quarter. ExodusPoint Capital Management LP owned about 0.33% of NETSTREIT worth $3,862,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in NTST. Swiss National Bank increased its holdings in NETSTREIT by 5.7% during the fourth quarter. Swiss National Bank now owns 152,200 shares of the company’s stock worth $2,154,000 after buying an additional 8,200 shares during the last quarter. Nordea Investment Management AB bought a new position in shares of NETSTREIT in the 4th quarter valued at about $6,714,000. JPMorgan Chase & Co. increased its stake in shares of NETSTREIT by 173.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 569,527 shares of the company’s stock worth $9,414,000 after purchasing an additional 361,577 shares during the last quarter. Vestcor Inc bought a new stake in shares of NETSTREIT in the 3rd quarter valued at about $913,000. Finally, Geode Capital Management LLC lifted its stake in NETSTREIT by 6.0% in the 3rd quarter. Geode Capital Management LLC now owns 1,980,800 shares of the company’s stock valued at $32,748,000 after purchasing an additional 112,047 shares during the last quarter.

Insiders Place Their Bets

In other NETSTREIT news, CEO Mark Manheimer bought 3,616 shares of the stock in a transaction dated Friday, March 7th. The shares were bought at an average cost of $15.22 per share, with a total value of $55,035.52. Following the completion of the acquisition, the chief executive officer now 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 purchase was disclosed in a document filed with the SEC, which is accessible through this link. Insiders acquired 12,000 shares of company stock worth $183,172 in the last quarter. 0.46% of the stock is currently owned by corporate insiders.

NETSTREIT Stock Down 2.0 %

NTST stock opened at $15.31 on Monday. NETSTREIT Corp. has a fifty-two week low of $13.42 and a fifty-two week high of $18.10. 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 stock has a market capitalization of $1.25 billion, a price-to-earnings ratio of -255.16 and a beta of 0.91. The business’s fifty day moving average price is $14.84 and its two-hundred day moving average price is $15.16.

NETSTREIT Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, March 14th were paid a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 5.49%. The ex-dividend date was Friday, March 14th. NETSTREIT’s dividend payout ratio (DPR) is -525.00%.

Wall Street Analyst Weigh In

NTST has been the topic of several research analyst reports. Capital One Financial initiated coverage on NETSTREIT in a research note on Wednesday, February 12th. They issued an “overweight” rating on the stock. 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 note on Friday, January 17th. Finally, Mizuho lifted their price objective on shares of NETSTREIT from $15.00 to $17.00 and gave the stock an “outperform” rating in a research report on Thursday. One analyst has rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, NETSTREIT currently has an average rating of “Buy” and a consensus target price of $18.04.

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.