Bank of America Corp DE Has $1.04 Million Position in NETSTREIT Corp. (NYSE:NTST)

Bank of America Corp DE lowered its stake in NETSTREIT Corp. (NYSE:NTST) by 82.6% in the fourth quarter, HoldingsChannel.com reports. The firm owned 73,660 shares of the company’s stock after selling 350,436 shares during the quarter. Bank of America Corp DE’s holdings in NETSTREIT were worth $1,042,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Principal Financial Group Inc. lifted its position 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 acquiring an additional 1,521,668 shares in the last quarter. Lasalle Investment Management Securities LLC grew its stake in NETSTREIT by 30.8% in the 4th quarter. Lasalle Investment Management Securities LLC now owns 3,449,229 shares of the company’s stock valued at $48,807,000 after buying an additional 811,632 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. grew its stake 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 valued at $31,239,000 after buying an additional 592,439 shares during the last quarter. Mesirow Institutional Investment Management Inc. boosted its holdings in NETSTREIT by 68.2% in the 4th quarter. Mesirow Institutional Investment Management Inc. now owns 1,059,811 shares of the company’s stock valued at $14,996,000 after purchasing an additional 429,882 shares during the period. Finally, Centersquare Investment Management LLC boosted its holdings in NETSTREIT by 28.6% in the 4th quarter. Centersquare Investment Management LLC now owns 1,929,490 shares of the company’s stock valued at $27,302,000 after purchasing an additional 429,642 shares during the period.

NETSTREIT Price Performance

Shares of NETSTREIT stock opened at $16.22 on Friday. 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 company has a market cap of $1.33 billion, a PE ratio of -270.25 and a beta of 0.88. The business has a 50 day moving average of $15.80 and a 200 day moving average of $15.14. NETSTREIT Corp. has a 52 week low of $13.42 and a 52 week high of $17.53.

NETSTREIT Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Monday, June 2nd will be paid a $0.21 dividend. The ex-dividend date is Monday, June 2nd. This represents a $0.84 dividend on an annualized basis and a dividend yield of 5.18%. NETSTREIT’s dividend payout ratio is currently -560.00%.

Insider Transactions at NETSTREIT

In other NETSTREIT news, CEO Mark Manheimer acquired 6,384 shares of the company’s stock in a transaction that occurred on Monday, March 10th. The shares were bought 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 directly owns 304,572 shares of the company’s stock, valued at approximately $4,669,088.76. This represents a 2.14% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.58% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on NTST. Mizuho upped their price target on shares of NETSTREIT from $15.00 to $17.00 and gave the stock an “outperform” rating in a report on Thursday, April 3rd. Wells Fargo & Company assumed coverage on shares of NETSTREIT in a research report on Monday, April 7th. They set an “overweight” rating and a $18.00 price objective for the company. Raymond James restated a “strong-buy” rating on shares of NETSTREIT in a report on Friday, May 23rd. Finally, Capital One Financial started coverage on shares of NETSTREIT in a report on Wednesday, February 12th. They issued an “overweight” rating for the company. One 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’s stock. According to MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $18.16.

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.