MetLife Investment Management LLC Acquires 3,961 Shares of NETSTREIT Corp. (NYSE:NTST)

MetLife Investment Management LLC boosted its holdings in shares of NETSTREIT Corp. (NYSE:NTST) by 8.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 48,896 shares of the company’s stock after purchasing an additional 3,961 shares during the quarter. MetLife Investment Management LLC owned about 0.06% of NETSTREIT worth $692,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its holdings in shares of NETSTREIT by 3.0% during the fourth quarter. Vanguard Group Inc. now owns 7,959,793 shares of the company’s stock worth $112,631,000 after buying an additional 234,695 shares during the last quarter. Cohen & Steers Inc. raised its stake in NETSTREIT by 3.0% during the 4th quarter. Cohen & Steers Inc. now owns 6,663,409 shares of the company’s stock valued at $94,287,000 after purchasing an additional 191,846 shares during the last quarter. Principal Financial Group Inc. boosted its holdings in NETSTREIT by 46.4% in the 4th quarter. Principal Financial Group Inc. now owns 4,800,208 shares of the company’s stock valued at $67,924,000 after purchasing an additional 1,521,668 shares during the period. Sumitomo Mitsui Trust Group Inc. grew 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 worth $31,239,000 after purchasing an additional 592,439 shares during the last quarter. Finally, Geode Capital Management LLC increased its holdings in shares of NETSTREIT by 2.1% during the 4th quarter. Geode Capital Management LLC now owns 2,022,772 shares of the company’s stock worth $28,628,000 after purchasing an additional 41,972 shares during the period.

Insider Buying and Selling

In related news, CEO Mark Manheimer purchased 6,384 shares of NETSTREIT stock in a transaction that occurred on Monday, March 10th. The shares were acquired at an average price of $15.33 per share, for a total transaction of $97,866.72. Following the transaction, the chief executive officer now directly owns 304,572 shares in the company, valued at approximately $4,669,088.76. This represents a 2.14 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Insiders have acquired a total of 12,000 shares of company stock worth $183,172 in the last three months. Insiders own 0.58% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently weighed in on NTST. Capital One Financial assumed coverage on NETSTREIT in a research report on Wednesday, February 12th. They set an “overweight” rating on the stock. Raymond James lowered their price objective 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. Mizuho upped their target price on NETSTREIT from $15.00 to $17.00 and gave the company an “outperform” rating in a research note on Thursday, April 3rd. Finally, Wells Fargo & Company started coverage on shares of NETSTREIT in a report on Monday, April 7th. They issued an “overweight” rating and a $18.00 price target on the stock. One equities research analyst has rated the stock with a hold rating, six have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $18.03.

NETSTREIT Price Performance

NYSE:NTST opened at $16.03 on Monday. The company has a quick ratio of 4.11, a current ratio of 4.11 and a debt-to-equity ratio of 0.57. The firm has a market cap of $1.31 billion, a PE ratio of -267.12 and a beta of 0.90. NETSTREIT Corp. has a 12 month low of $13.42 and a 12 month high of $18.10. The company’s 50-day moving average price is $15.46 and its two-hundred day moving average price is $15.11.

NETSTREIT Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Monday, June 2nd will be given a dividend of $0.21 per share. The ex-dividend date of this dividend is Monday, June 2nd. This represents a $0.84 dividend on an annualized basis and a yield of 5.24%. NETSTREIT’s dividend payout ratio (DPR) is presently -560.00%.

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.