Prudent Man Advisors LLC Buys New Stake in NETSTREIT Corp. (NYSE:NTST)

Prudent Man Advisors LLC bought a new stake in NETSTREIT Corp. (NYSE:NTST) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 10,118 shares of the company’s stock, valued at approximately $143,000.

Several other large investors have also recently added to or reduced their stakes in NTST. Sumitomo Mitsui Trust Group Inc. increased its position in NETSTREIT by 1,931.7% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,615,264 shares of the company’s stock valued at $26,700,000 after acquiring an additional 1,535,761 shares during the period. Principal Financial Group Inc. boosted its stake in NETSTREIT by 46.4% during 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 in the last quarter. Tributary Capital Management LLC bought a new position in NETSTREIT during the 4th quarter valued at $12,633,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in NETSTREIT by 765.7% during the 3rd 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 purchasing an additional 562,273 shares in the last quarter. Finally, Nordea Investment Management AB bought a new position in NETSTREIT during the 4th quarter valued at $6,714,000.

Analyst Ratings Changes

A number of brokerages have issued reports on NTST. Capital One Financial began coverage on NETSTREIT in a research note on Wednesday, February 12th. They set an “overweight” rating for the company. Truist Financial decreased their price target on NETSTREIT from $20.00 to $19.00 and set a “buy” rating for the company in a research note on Thursday, December 5th. Mizuho decreased their price target on NETSTREIT from $17.00 to $15.00 and set an “outperform” rating for the company in a research note on Wednesday, January 8th. Scotiabank raised NETSTREIT from a “sector perform” rating to a “sector outperform” rating and increased their price target for the company from $16.00 to $18.00 in a research note on Monday, November 11th. Finally, Raymond James decreased their price target on 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 assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $17.75.

NETSTREIT Price Performance

NTST opened at $14.98 on Friday. The stock has a fifty day moving average of $14.24 and a 200-day moving average of $15.42. The firm has a market capitalization of $1.22 billion, a P/E ratio of -249.54 and a beta of 1.00. NETSTREIT Corp. has a 12-month low of $13.42 and a 12-month high of $18.97. The company has a quick ratio of 4.11, a current ratio of 4.11 and a debt-to-equity ratio of 0.57.

NETSTREIT Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 14th will be issued a $0.21 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 5.61%. NETSTREIT’s payout ratio is currently -525.00%.

NETSTREIT 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.