NETSTREIT Corp. (NYSE:NTST) Shares Purchased by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company increased its stake in shares of NETSTREIT Corp. (NYSE:NTST) by 5.5% during the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 38,137 shares of the company’s stock after buying an additional 2,001 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in NETSTREIT were worth $630,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in NTST. Price T Rowe Associates Inc. MD lifted its position in NETSTREIT by 13.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 19,780 shares of the company’s stock worth $364,000 after buying an additional 2,391 shares in the last quarter. SG Americas Securities LLC purchased a new position in NETSTREIT during the second quarter worth approximately $316,000. Bank of New York Mellon Corp lifted its position in NETSTREIT by 7.4% during the second quarter. Bank of New York Mellon Corp now owns 409,904 shares of the company’s stock worth $6,599,000 after buying an additional 28,222 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position in NETSTREIT by 10.2% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 25,581 shares of the company’s stock valued at $412,000 after purchasing an additional 2,373 shares during the period. Finally, Van ECK Associates Corp raised its position in NETSTREIT by 13.7% in the second quarter. Van ECK Associates Corp now owns 11,280 shares of the company’s stock valued at $182,000 after purchasing an additional 1,359 shares during the period.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. Stifel Nicolaus reduced their target price on NETSTREIT from $19.50 to $19.25 and set a “buy” rating on the stock in a research report on Tuesday, November 5th. UBS Group assumed coverage on NETSTREIT in a research report on Monday, October 14th. They issued a “buy” rating and a $19.00 target price on the stock. Wedbush began coverage on NETSTREIT in a research report on Monday, August 19th. They issued a “neutral” rating and a $17.00 target price on the stock. Scotiabank raised NETSTREIT from a “sector perform” rating to a “sector outperform” rating and lifted their price objective for the company from $16.00 to $18.00 in a research note on Monday, November 11th. Finally, Truist Financial dropped their price objective on NETSTREIT from $20.00 to $19.00 and set a “buy” rating for the company in a research note on Thursday, December 5th. Two investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $19.03.

NETSTREIT Trading Up 0.2 %

NTST opened at $15.01 on Friday. NETSTREIT Corp. has a 12 month low of $14.83 and a 12 month high of $18.97. The stock has a market capitalization of $1.22 billion, a price-to-earnings ratio of -250.08 and a beta of 0.97. The company has a debt-to-equity ratio of 0.57, a current ratio of 4.11 and a quick ratio of 4.11. The business has a fifty day moving average price of $15.83 and a 200 day moving average price of $16.32.

NETSTREIT (NYSE:NTST) last released its earnings results on Monday, November 4th. The company reported ($0.07) EPS for the quarter, missing the consensus estimate of $0.30 by ($0.37). The company had revenue of $41.44 million for the quarter, compared to analyst estimates of $41.10 million. NETSTREIT had a negative return on equity of 0.35% and a negative net margin of 2.96%. During the same period in the previous year, the firm earned $0.31 earnings per share. Sell-side analysts expect that NETSTREIT Corp. will post 1.19 earnings per share for the current fiscal year.

NETSTREIT Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 13th. Stockholders of record on Monday, December 2nd were given a dividend of $0.21 per share. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $0.84 annualized dividend and a dividend yield of 5.60%. NETSTREIT’s dividend payout ratio is currently -1,400.00%.

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.