NETSTREIT Corp. (NYSE:NTST) Shares Acquired by Mitsubishi UFJ Asset Management Co. Ltd.

Mitsubishi UFJ Asset Management Co. Ltd. increased its position in shares of NETSTREIT Corp. (NYSE:NTST) by 12.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 57,596 shares of the company’s stock after purchasing an additional 6,324 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in NETSTREIT were worth $806,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of NTST. Principal Financial Group Inc. raised its holdings in NETSTREIT by 46.4% during the fourth quarter. Principal Financial Group Inc. now owns 4,800,208 shares of the company’s stock worth $67,924,000 after purchasing an additional 1,521,668 shares in the last quarter. Tributary Capital Management LLC purchased a new position in shares of NETSTREIT in the 4th quarter valued at $12,633,000. Sumitomo Mitsui Trust Group Inc. raised its stake in NETSTREIT by 36.7% during the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,207,703 shares of the company’s stock worth $31,239,000 after acquiring an additional 592,439 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in NETSTREIT by 765.7% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 635,707 shares of the company’s stock valued at $10,508,000 after acquiring an additional 562,273 shares during the last quarter. Finally, Nordea Investment Management AB purchased a new position in shares of NETSTREIT during the fourth quarter worth about $6,714,000.

Insider Buying and Selling

In other NETSTREIT news, CEO Mark Manheimer purchased 6,384 shares of NETSTREIT stock in a transaction on Monday, March 10th. The shares were bought at an average price of $15.33 per share, with a total value of $97,866.72. Following the completion of the acquisition, the chief executive officer now directly owns 304,572 shares of the company’s stock, valued at approximately $4,669,088.76. This trade represents a 2.14 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Over the last ninety days, insiders bought 12,000 shares of company stock valued at $183,172. 0.46% of the stock is owned by insiders.

Analyst Ratings Changes

Several analysts have recently weighed in on the company. Capital One Financial assumed coverage on NETSTREIT in a research report on Wednesday, February 12th. They issued an “overweight” rating for the company. Mizuho decreased their price objective on NETSTREIT from $17.00 to $15.00 and set an “outperform” rating for the company in a report on Wednesday, January 8th. Truist Financial cut their target price on shares of NETSTREIT from $20.00 to $19.00 and set a “buy” rating on the stock in a report on Thursday, December 5th. Finally, Raymond James decreased 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 note on Friday, January 17th. 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. According to MarketBeat.com, NETSTREIT has a consensus rating of “Buy” and an average price target of $17.75.

NETSTREIT Stock Down 0.5 %

NTST stock opened at $15.71 on Thursday. The company has a current ratio of 4.11, a quick ratio of 4.11 and a debt-to-equity ratio of 0.57. The company’s 50-day moving average price is $14.80 and its 200 day moving average price is $15.19. NETSTREIT Corp. has a 52 week low of $13.42 and a 52 week high of $18.10. The company has a market cap of $1.28 billion, a P/E ratio of -261.79 and a beta of 0.99.

NETSTREIT Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Friday, March 14th were paid a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 5.35%. The ex-dividend date was Friday, March 14th. NETSTREIT’s dividend payout ratio (DPR) is -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.