Insider Buying: NETSTREIT Corp. (NYSE:NTST) CEO Acquires 3,616 Shares of Stock

NETSTREIT Corp. (NYSE:NTST) CEO Mark Manheimer bought 3,616 shares of the company’s stock in a transaction dated Friday, March 7th. The shares were acquired at an average price of $15.22 per share, for a total transaction of $55,035.52. Following the acquisition, the chief executive officer now owns 295,252 shares in the company, valued at approximately $4,493,735.44. This represents a 1.24 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

NETSTREIT Price Performance

Shares of NYSE NTST opened at $14.92 on Wednesday. The firm has a market cap of $1.22 billion, a P/E ratio of -248.61 and a beta of 0.99. NETSTREIT Corp. has a twelve month low of $13.42 and a twelve month high of $18.97. The company has a quick ratio of 4.11, a current ratio of 4.11 and a debt-to-equity ratio of 0.57. The company has a 50 day moving average of $14.37 and a 200 day moving average of $15.35.

NETSTREIT Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 14th will be issued a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 5.63%. The ex-dividend date is Friday, March 14th. NETSTREIT’s payout ratio is currently -525.00%.

Institutional Investors Weigh In On NETSTREIT

Several institutional investors have recently modified their holdings of NTST. Lazard Asset Management LLC bought a new position in NETSTREIT during the 4th quarter valued at about $41,000. PNC Financial Services Group Inc. boosted its stake in shares of NETSTREIT by 861.1% in the 4th quarter. PNC Financial Services Group Inc. now owns 5,430 shares of the company’s stock worth $77,000 after buying an additional 4,865 shares during the last quarter. Comerica Bank grew its holdings in shares of NETSTREIT by 174.3% in the fourth quarter. Comerica Bank now owns 9,703 shares of the company’s stock worth $137,000 after acquiring an additional 6,166 shares during the period. Hohimer Wealth Management LLC purchased a new stake in NETSTREIT during the third quarter valued at $166,000. Finally, Mariner LLC purchased a new stake in NETSTREIT during the fourth quarter valued at $143,000.

Wall Street Analyst Weigh In

Several research firms recently commented on NTST. 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 research note on Friday, January 17th. Capital One Financial initiated coverage on NETSTREIT in a research report on Wednesday, February 12th. They issued an “overweight” rating on the stock. Mizuho reduced their price objective on NETSTREIT from $17.00 to $15.00 and set an “outperform” rating for the company in a research report on Wednesday, January 8th. Finally, Truist Financial dropped their target price on NETSTREIT from $20.00 to $19.00 and set a “buy” rating on the stock in a report on Thursday, December 5th. One research analyst has rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $17.75.

About NETSTREIT

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.