Mark Manheimer Buys 6,384 Shares of NETSTREIT Corp. (NYSE:NTST) Stock

NETSTREIT Corp. (NYSE:NTST) CEO Mark Manheimer acquired 6,384 shares of the firm’s stock in a transaction dated Monday, March 10th. The shares were purchased 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 owns 304,572 shares of the company’s stock, valued at $4,669,088.76. This trade represents a 2.14 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Mark Manheimer also recently made the following trade(s):

• On Friday, March 7th, Mark Manheimer purchased 3,616 shares of NETSTREIT stock. The shares were purchased at an average cost of $15.22 per share, for a total transaction of $55,035.52.

NETSTREIT Price Performance

Shares of NTST opened at $15.01 on Friday. The stock has a market cap of $1.23 billion, a P/E ratio of -250.06 and a beta of 0.99. The business’s fifty day moving average is $14.40 and its 200 day moving average is $15.34. The company has a quick ratio of 4.11, a current ratio of 4.11 and a debt-to-equity ratio of 0.57. NETSTREIT Corp. has a 12-month low of $13.42 and a 12-month high of $18.97.

NETSTREIT Dividend Announcement

The firm also recently disclosed 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 5.60%. The ex-dividend date is Friday, March 14th. NETSTREIT’s dividend payout ratio is currently -525.00%.

Institutional Investors Weigh In On NETSTREIT

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Lazard Asset Management LLC bought a new position in NETSTREIT in the 4th quarter valued at about $41,000. PNC Financial Services Group Inc. raised its stake in shares of NETSTREIT by 861.1% in the fourth quarter. PNC Financial Services Group Inc. now owns 5,430 shares of the company’s stock worth $77,000 after purchasing an additional 4,865 shares during the last quarter. Comerica Bank lifted 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 valued at $137,000 after purchasing an additional 6,166 shares in the last quarter. Prudent Man Advisors LLC purchased a new position in shares of NETSTREIT during the fourth quarter valued at approximately $143,000. Finally, Mariner LLC bought a new stake in NETSTREIT during the fourth quarter worth $143,000.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on NTST. Truist Financial dropped their price objective on NETSTREIT from $20.00 to $19.00 and set a “buy” rating on the stock in a research note on Thursday, December 5th. Capital One Financial assumed coverage on NETSTREIT in a report on Wednesday, February 12th. They issued an “overweight” rating for the company. Raymond James cut their price target on NETSTREIT from $19.00 to $17.00 and set a “strong-buy” rating on the stock in a report on Friday, January 17th. Finally, Mizuho lowered their price objective on shares of NETSTREIT from $17.00 to $15.00 and set an “outperform” rating for the company in a research note on Wednesday, January 8th. One investment 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 stock. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target 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.