Boston Partners Cuts Position in NETSTREIT Corp. (NYSE:NTST)

Boston Partners cut its stake in NETSTREIT Corp. (NYSE:NTST) by 44.6% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 38,148 shares of the company’s stock after selling 30,694 shares during the period. Boston Partners’ holdings in NETSTREIT were worth $540,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Nordea Investment Management AB purchased a new position in NETSTREIT in the fourth quarter worth $6,714,000. JPMorgan Chase & Co. grew its position in NETSTREIT by 173.9% in the third quarter. JPMorgan Chase & Co. now owns 569,527 shares of the company’s stock worth $9,414,000 after acquiring an additional 361,577 shares in the last quarter. Vestcor Inc purchased a new position in NETSTREIT in the third quarter worth $913,000. Geode Capital Management LLC boosted its position in NETSTREIT by 6.0% during the third quarter. Geode Capital Management LLC now owns 1,980,800 shares of the company’s stock valued at $32,748,000 after buying an additional 112,047 shares during the period. Finally, Janney Montgomery Scott LLC purchased a new stake in NETSTREIT during the fourth quarter valued at about $198,000.

Insider Buying and Selling

In related news, CEO Mark Manheimer purchased 6,384 shares of the firm’s stock in a transaction that occurred on Monday, March 10th. The stock was bought at an average cost of $15.33 per share, with a total value of $97,866.72. Following the completion of the purchase, the chief executive officer now directly owns 304,572 shares in the company, valued at approximately $4,669,088.76. This represents a 2.14 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders purchased a total of 12,000 shares of company stock valued at $183,172 over the last three months. Corporate insiders own 0.46% of the company’s stock.

Analyst Ratings Changes

NTST has been the subject of several analyst reports. Raymond James cut their price target on shares of NETSTREIT from $19.00 to $17.00 and set a “strong-buy” rating for the company in a research report on Friday, January 17th. Capital One Financial initiated coverage on shares of NETSTREIT in a research report on Wednesday, February 12th. They set an “overweight” rating for the company. Mizuho cut their price target on shares of 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 cut their price target on shares of NETSTREIT from $20.00 to $19.00 and set a “buy” rating for the company in a research report on Thursday, December 5th. One investment analyst has rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $17.75.

NETSTREIT Stock Performance

Shares of NYSE:NTST opened at $15.04 on Friday. The company has a market cap of $1.23 billion, a price-to-earnings ratio of -250.66 and a beta of 0.99. The company has a 50-day moving average price of $14.59 and a 200-day moving average price of $15.27. The company has a current ratio of 4.11, a quick 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 Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be paid a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 5.58%. The ex-dividend date of this dividend is Friday, March 14th. NETSTREIT’s payout ratio is currently -525.00%.

NETSTREIT 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.