New Age Alpha Advisors LLC Makes New Investment in NETSTREIT Corp. (NYSE:NTST)

New Age Alpha Advisors LLC acquired a new stake in shares of NETSTREIT Corp. (NYSE:NTST) in the 4th quarter, Holdings Channel.com reports. The institutional investor acquired 62,393 shares of the company’s stock, valued at approximately $883,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. PNC Financial Services Group Inc. increased its position in NETSTREIT by 861.1% during the 4th quarter. PNC Financial Services Group Inc. now owns 5,430 shares of the company’s stock worth $77,000 after purchasing an additional 4,865 shares in the last quarter. Hohimer Wealth Management LLC purchased a new stake in NETSTREIT during the third quarter worth approximately $166,000. Prudent Man Advisors LLC acquired a new stake in shares of NETSTREIT in the fourth quarter worth $143,000. Sanctuary Advisors LLC purchased a new position in shares of NETSTREIT in the 3rd quarter valued at $169,000. Finally, Envestnet Portfolio Solutions Inc. acquired a new position in shares of NETSTREIT during the 4th quarter valued at $152,000.

NETSTREIT Trading Up 0.4 %

NYSE:NTST opened at $15.91 on Tuesday. The stock has a market cap of $1.30 billion, a price-to-earnings ratio of -265.14 and a beta of 0.99. NETSTREIT Corp. has a one year low of $13.42 and a one year 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 business’s 50-day simple moving average is $14.75 and its 200 day simple moving average is $15.20.

NETSTREIT Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, March 14th were given a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 5.28%. The ex-dividend date of this dividend was Friday, March 14th. NETSTREIT’s payout ratio is -525.00%.

Wall Street Analyst Weigh In

Several analysts recently issued reports on NTST shares. Raymond James lowered their price target on NETSTREIT from $19.00 to $17.00 and set a “strong-buy” rating for the company in a report on Friday, January 17th. Capital One Financial assumed coverage on NETSTREIT in a research note on Wednesday, February 12th. They issued an “overweight” rating for the company. Mizuho reduced their price target on NETSTREIT from $17.00 to $15.00 and set an “outperform” rating on the stock in a research report on Wednesday, January 8th. Finally, Truist Financial decreased their price target on NETSTREIT from $20.00 to $19.00 and set a “buy” rating for the company in a report on Thursday, December 5th. One equities research analyst has rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, NETSTREIT has an average rating of “Buy” and an average target price of $17.75.

Insider Activity

In related news, CEO Mark Manheimer bought 6,384 shares of the business’s stock in a transaction dated 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 purchase, the chief executive officer now owns 304,572 shares in the company, valued at $4,669,088.76. This trade represents a 2.14 % increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In the last three months, insiders acquired 12,000 shares of company stock worth $183,172. 0.46% of the stock is currently owned by insiders.

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.