Pitcairn Co. Invests $276,000 in NETSTREIT Corp. (NYSE:NTST)

Pitcairn Co. acquired a new stake in NETSTREIT Corp. (NYSE:NTST) during the 4th quarter, Holdings Channel reports. The institutional investor acquired 19,497 shares of the company’s stock, valued at approximately $276,000.

A number of other institutional investors have also modified their holdings of NTST. PNC Financial Services Group Inc. lifted its position in NETSTREIT by 861.1% during the fourth quarter. PNC Financial Services Group Inc. now owns 5,430 shares of the company’s stock valued at $77,000 after buying an additional 4,865 shares in the last quarter. Prudent Man Advisors LLC acquired a new stake in shares of NETSTREIT in the fourth quarter worth $143,000. Envestnet Portfolio Solutions Inc. purchased a new position in shares of NETSTREIT in the 4th quarter valued at $152,000. Hohimer Wealth Management LLC acquired a new position in shares of NETSTREIT during the 3rd quarter valued at $166,000. Finally, Sanctuary Advisors LLC purchased a new stake in NETSTREIT during the 3rd quarter worth $169,000.

Analysts Set New Price Targets

NTST has been the topic of a number of recent research reports. Raymond James reduced their price objective on NETSTREIT from $19.00 to $17.00 and set a “strong-buy” rating on the stock in a research note on Friday, January 17th. Capital One Financial initiated coverage on NETSTREIT in a research report on Wednesday, February 12th. They set an “overweight” rating on the stock. Finally, Mizuho increased their price objective on shares of NETSTREIT from $15.00 to $17.00 and gave the company an “outperform” rating in a research report on Thursday. One investment analyst has rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $18.04.

Insider Activity at NETSTREIT

In other NETSTREIT news, CEO Mark Manheimer bought 6,384 shares of the company’s stock in a transaction 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 acquisition, the chief executive officer now owns 304,572 shares of the company’s stock, valued at approximately $4,669,088.76. This trade represents a 2.14 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have purchased 12,000 shares of company stock valued at $183,172 over the last ninety days. Corporate insiders own 0.46% of the company’s stock.

NETSTREIT Price Performance

NTST stock opened at $15.31 on Monday. The stock’s 50 day moving average is $14.84 and its two-hundred day moving average is $15.16. NETSTREIT Corp. has a 52-week low of $13.42 and a 52-week high of $18.10. The company has a market capitalization of $1.25 billion, a PE ratio of -255.16 and a beta of 0.91. 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 Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Friday, March 14th were issued a $0.21 dividend. The ex-dividend date was Friday, March 14th. This represents a $0.84 annualized dividend and a yield of 5.49%. NETSTREIT’s dividend payout ratio is presently -525.00%.

About NETSTREIT

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.