US Bancorp DE Increases Stock Holdings in NETSTREIT Corp. (NYSE:NTST)

US Bancorp DE boosted its position in shares of NETSTREIT Corp. (NYSE:NTST) by 743.0% in the fourth quarter, HoldingsChannel.com reports. The fund owned 14,297 shares of the company’s stock after purchasing an additional 12,601 shares during the period. US Bancorp DE’s holdings in NETSTREIT were worth $202,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Principal Financial Group Inc. boosted its holdings in NETSTREIT by 46.4% during the 4th quarter. Principal Financial Group Inc. now owns 4,800,208 shares of the company’s stock valued at $67,924,000 after acquiring an additional 1,521,668 shares during the period. State Street Corp raised its position in NETSTREIT by 2.9% in the 3rd quarter. State Street Corp now owns 3,104,081 shares of the company’s stock valued at $51,310,000 after purchasing an additional 87,669 shares in the last quarter. Rush Island Management LP raised its position in NETSTREIT by 18.0% in the 3rd quarter. Rush Island Management LP now owns 2,364,964 shares of the company’s stock valued at $39,093,000 after purchasing an additional 359,993 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. raised its position in NETSTREIT by 36.7% in the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,207,703 shares of the company’s stock valued at $31,239,000 after purchasing an additional 592,439 shares in the last quarter. Finally, Geode Capital Management LLC raised its position 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 in the last quarter.

NETSTREIT Price Performance

NTST stock opened at $15.24 on Friday. The business has a 50 day moving average price of $14.43 and a 200 day moving average price of $15.32. The stock has a market cap of $1.24 billion, a price-to-earnings ratio of -253.87 and a beta of 0.99. NETSTREIT Corp. has a fifty-two week low of $13.42 and a fifty-two week 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.

NETSTREIT Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders 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 5.51%. The ex-dividend date is Friday, March 14th. NETSTREIT’s dividend payout ratio is currently -525.00%.

Insider Buying and Selling at NETSTREIT

In other news, CEO Mark Manheimer acquired 3,616 shares of NETSTREIT stock in a transaction on Friday, March 7th. The stock was bought at an average price of $15.22 per share, for a total transaction of $55,035.52. Following the completion of the purchase, the chief executive officer now owns 295,252 shares in the company, valued at $4,493,735.44. This represents a 1.24 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Over the last quarter, insiders bought 12,000 shares of company stock worth $183,172. 0.46% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on NTST shares. Capital One Financial started coverage on NETSTREIT in a research report on Wednesday, February 12th. They issued an “overweight” rating on the stock. Truist Financial reduced their price target on NETSTREIT from $20.00 to $19.00 and set a “buy” rating on the stock in a research report on Thursday, December 5th. Raymond James reduced their price target on NETSTREIT from $19.00 to $17.00 and set a “strong-buy” rating on the stock in a research report on Friday, January 17th. Finally, Mizuho cut their target price on NETSTREIT from $17.00 to $15.00 and set an “outperform” rating on the stock in a research report on Wednesday, January 8th. One research analyst has rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $17.75.

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.