NETSTREIT Corp. $NTST Shares Sold by KLP Kapitalforvaltning AS

KLP Kapitalforvaltning AS cut its position in NETSTREIT Corp. (NYSE:NTST) by 13.0% in the second quarter, HoldingsChannel reports. The institutional investor owned 16,000 shares of the company’s stock after selling 2,400 shares during the period. KLP Kapitalforvaltning AS’s holdings in NETSTREIT were worth $271,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the company. Vanguard Group Inc. grew its stake in shares of NETSTREIT by 4.0% in the first quarter. Vanguard Group Inc. now owns 8,275,681 shares of the company’s stock valued at $131,170,000 after buying an additional 315,888 shares in the last quarter. Principal Financial Group Inc. grew its stake in NETSTREIT by 61.3% during the 1st quarter. Principal Financial Group Inc. now owns 7,741,808 shares of the company’s stock worth $122,708,000 after purchasing an additional 2,941,600 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. grew its stake in NETSTREIT by 8.2% during the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,389,583 shares of the company’s stock worth $37,875,000 after purchasing an additional 181,880 shares in the last quarter. Centersquare Investment Management LLC grew its stake in NETSTREIT by 23.8% during the 1st quarter. Centersquare Investment Management LLC now owns 2,388,977 shares of the company’s stock worth $37,865,000 after purchasing an additional 459,487 shares in the last quarter. Finally, Alliancebernstein L.P. grew its stake in NETSTREIT by 4.8% during the 1st quarter. Alliancebernstein L.P. now owns 1,972,806 shares of the company’s stock worth $31,269,000 after purchasing an additional 90,148 shares in the last quarter.

NETSTREIT Stock Up 0.1%

NETSTREIT stock opened at $19.04 on Monday. NETSTREIT Corp. has a fifty-two week low of $13.42 and a fifty-two week high of $19.21. The company has a debt-to-equity ratio of 0.70, a quick ratio of 3.83 and a current ratio of 3.83. The company has a market capitalization of $1.59 billion, a P/E ratio of -238.00, a PEG ratio of 3.08 and a beta of 0.90. The stock has a 50-day simple moving average of $18.35 and a 200-day simple moving average of $17.19.

NETSTREIT Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Tuesday, September 2nd were issued a $0.215 dividend. This represents a $0.86 annualized dividend and a dividend yield of 4.5%. The ex-dividend date of this dividend was Tuesday, September 2nd. This is an increase from NETSTREIT’s previous quarterly dividend of $0.21. NETSTREIT’s dividend payout ratio (DPR) is presently -1,075.00%.

Analyst Ratings Changes

Several research analysts recently commented on NTST shares. Truist Financial set a $19.00 target price on NETSTREIT in a research note on Friday, July 25th. Robert W. Baird boosted their target price on NETSTREIT from $18.00 to $20.00 and gave the stock an “outperform” rating in a research note on Thursday, July 24th. Wells Fargo & Company lifted their price target on NETSTREIT from $18.00 to $20.00 and gave the stock an “overweight” rating in a report on Wednesday, August 27th. Bank of America raised NETSTREIT from an “underperform” rating to a “neutral” rating and lifted their price target for the stock from $18.00 to $19.00 in a report on Monday, July 28th. Finally, Raymond James Financial reaffirmed a “strong-buy” rating and set a $21.00 price target on shares of NETSTREIT in a report on Wednesday, July 30th. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $20.20.

Insider Buying and Selling at NETSTREIT

In related news, CEO Mark Manheimer acquired 5,600 shares of NETSTREIT stock in a transaction on Friday, September 5th. The stock was purchased at an average cost of $17.93 per share, with a total value of $100,408.00. Following the purchase, the chief executive officer directly owned 316,378 shares in the company, valued at approximately $5,672,657.54. The trade was a 1.80% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.58% of the company’s stock.

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.