Connor Clark & Lunn Investment Management Ltd. Cuts Stock Position in NETSTREIT Corp. (NYSE:NTST)

Connor Clark & Lunn Investment Management Ltd. lessened its holdings in NETSTREIT Corp. (NYSE:NTST) by 18.8% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 76,828 shares of the company’s stock after selling 17,746 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in NETSTREIT were worth $1,087,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of the business. Victory Capital Management Inc. boosted its holdings in shares of NETSTREIT by 10.6% during the 3rd quarter. Victory Capital Management Inc. now owns 85,500 shares of the company’s stock valued at $1,413,000 after purchasing an additional 8,200 shares during the last quarter. Natixis Advisors LLC boosted its holdings in shares of NETSTREIT by 3.7% during the 3rd quarter. Natixis Advisors LLC now owns 26,051 shares of the company’s stock valued at $431,000 after purchasing an additional 941 shares during the last quarter. Thrivent Financial for Lutherans boosted its holdings in shares of NETSTREIT by 52.1% during the 3rd quarter. Thrivent Financial for Lutherans now owns 364,987 shares of the company’s stock valued at $6,033,000 after purchasing an additional 125,076 shares during the last quarter. Intech Investment Management LLC bought a new position in shares of NETSTREIT during the 3rd quarter valued at about $324,000. Finally, Charles Schwab Investment Management Inc. boosted its holdings in shares of NETSTREIT by 9.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,078,174 shares of the company’s stock valued at $17,822,000 after purchasing an additional 95,433 shares during the last quarter.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. Truist Financial dropped their price objective on shares of NETSTREIT from $20.00 to $19.00 and set a “buy” rating for the company in a report on Thursday, December 5th. Raymond James lowered their price target on shares of NETSTREIT from $19.00 to $17.00 and set a “strong-buy” rating for the company in a report on Friday, January 17th. Capital One Financial started coverage on shares of NETSTREIT in a report on Wednesday, February 12th. They issued an “overweight” rating for the company. Finally, Mizuho lowered their price target on shares of NETSTREIT from $17.00 to $15.00 and set an “outperform” rating for the company in a 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 assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $17.75.

Insider Buying and Selling

In related news, CEO Mark Manheimer bought 6,384 shares of NETSTREIT stock in a transaction dated Monday, March 10th. The shares were acquired at an average cost 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 in the company, valued at $4,669,088.76. The trade was a 2.14 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders have bought 12,000 shares of company stock valued at $183,172 in the last ninety days. 0.46% of the stock is owned by company insiders.

NETSTREIT Stock Performance

NETSTREIT stock opened at $15.34 on Friday. The company has a debt-to-equity ratio of 0.57, a current ratio of 4.11 and a quick ratio of 4.11. NETSTREIT Corp. has a 1-year low of $13.42 and a 1-year high of $18.97. The firm has a market capitalization of $1.25 billion, a P/E ratio of -255.54 and a beta of 0.99. The company’s 50-day moving average is $14.56 and its 200 day moving average is $15.29.

NETSTREIT Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be given a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 5.48%. The ex-dividend date is Friday, March 14th. NETSTREIT’s dividend payout ratio (DPR) is currently -525.00%.

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.