Insider Buying: NETSTREIT Corp. (NYSE:NTST) CEO Acquires 6,384 Shares of Stock

NETSTREIT Corp. (NYSE:NTST) CEO Mark Manheimer acquired 6,384 shares of the firm’s stock in a transaction on Monday, March 10th. The stock was purchased at an average price of $15.33 per share, with a total value of $97,866.72. Following the purchase, the chief executive officer now owns 304,572 shares in the company, valued at approximately $4,669,088.76. The trade was a 2.14 % increase in their position. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Mark Manheimer also recently made the following trade(s):

• On Friday, March 7th, Mark Manheimer bought 3,616 shares of NETSTREIT stock. The stock was acquired at an average cost of $15.22 per share, with a total value of $55,035.52.

NETSTREIT Trading Up 0.6 %

Shares of NETSTREIT stock opened at $15.01 on Friday. The stock has a market capitalization of $1.23 billion, a P/E ratio of -250.06 and a beta of 0.99. NETSTREIT Corp. has a 52-week low of $13.42 and a 52-week high of $18.97. The company has a debt-to-equity ratio of 0.57, a quick ratio of 4.11 and a current ratio of 4.11. The stock’s 50-day simple moving average is $14.40 and its 200 day simple moving average is $15.34.

NETSTREIT Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 14th will be given a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 5.60%. The ex-dividend date of this dividend is Friday, March 14th. NETSTREIT’s dividend payout ratio (DPR) is currently -525.00%.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. Mizuho cut their price objective on NETSTREIT from $17.00 to $15.00 and set an “outperform” rating on the stock in a research report on Wednesday, January 8th. Truist Financial cut their price target 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. Raymond James reduced 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. Finally, Capital One Financial started coverage on shares of NETSTREIT in a research report on Wednesday, February 12th. They issued an “overweight” rating on the stock. One equities research analyst has rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, NETSTREIT currently has a consensus rating of “Buy” and a consensus price target of $17.75.

Institutional Trading of NETSTREIT

Institutional investors have recently modified their holdings of the business. Van ECK Associates Corp raised its holdings in NETSTREIT by 18.5% during the 3rd quarter. Van ECK Associates Corp now owns 13,363 shares of the company’s stock valued at $214,000 after acquiring an additional 2,083 shares during the period. State of New Jersey Common Pension Fund D raised its stake in shares of NETSTREIT by 6.1% during the 3rd quarter. State of New Jersey Common Pension Fund D now owns 115,660 shares of the company’s stock valued at $1,912,000 after purchasing an additional 6,690 shares during the period. GSA Capital Partners LLP lifted its holdings in NETSTREIT by 107.8% during the 3rd quarter. GSA Capital Partners LLP now owns 149,651 shares of the company’s stock worth $2,474,000 after purchasing an additional 77,647 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. lifted its holdings in NETSTREIT by 1,931.7% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,615,264 shares of the company’s stock worth $26,700,000 after purchasing an additional 1,535,761 shares in the last quarter. Finally, Aigen Investment Management LP bought a new position in NETSTREIT in the 3rd quarter worth about $546,000.

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.