Insider Buying: NETSTREIT Corp. (NYSE:NTST) CEO Acquires $55,035.52 in Stock

NETSTREIT Corp. (NYSE:NTST) CEO Mark Manheimer acquired 3,616 shares of the business’s stock in a transaction dated Friday, March 7th. The stock was purchased at an average price of $15.22 per share, with a total value of $55,035.52. Following the acquisition, the chief executive officer now owns 295,252 shares of the company’s stock, valued at approximately $4,493,735.44. This trade represents a 1.24 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Mark Manheimer also recently made the following trade(s):

• On Monday, March 10th, Mark Manheimer acquired 6,384 shares of NETSTREIT stock. The stock was purchased at an average price of $15.33 per share, with a total value of $97,866.72.

NETSTREIT Stock Up 0.2 %

NYSE:NTST opened at $14.95 on Thursday. The firm has a market capitalization of $1.22 billion, a price-to-earnings ratio of -249.14 and a beta of 0.99. NETSTREIT Corp. has a 1-year low of $13.42 and a 1-year high of $18.97. The company has a current ratio of 4.11, a quick ratio of 4.11 and a debt-to-equity ratio of 0.57. The business’s fifty day moving average price is $14.38 and its 200 day moving average price is $15.35.

NETSTREIT Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be given a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 5.62%. The ex-dividend date of this dividend is Friday, March 14th. NETSTREIT’s payout ratio is currently -525.00%.

Institutional Investors Weigh In On NETSTREIT

A number of hedge funds and other institutional investors have recently made changes to their positions in NTST. Lazard Asset Management LLC purchased a new stake in shares of NETSTREIT during the 4th quarter worth about $41,000. PNC Financial Services Group Inc. raised its stake in shares of 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. Comerica Bank raised its stake in shares of NETSTREIT by 174.3% during the 4th quarter. Comerica Bank now owns 9,703 shares of the company’s stock worth $137,000 after purchasing an additional 6,166 shares in the last quarter. Prudent Man Advisors LLC purchased a new stake in shares of NETSTREIT during the 4th quarter worth about $143,000. Finally, Mariner LLC purchased a new stake in shares of NETSTREIT during the 4th quarter worth about $143,000.

Wall Street Analysts Forecast Growth

NTST has been the subject of several research analyst reports. Mizuho cut their price objective on NETSTREIT from $17.00 to $15.00 and set an “outperform” rating for the company in a report on Wednesday, January 8th. Capital One Financial initiated coverage on NETSTREIT in a report on Wednesday, February 12th. They issued an “overweight” rating for the company. Raymond James cut their price objective on NETSTREIT from $19.00 to $17.00 and set a “strong-buy” rating for the company in a report on Friday, January 17th. Finally, Truist Financial cut their target price on NETSTREIT from $20.00 to $19.00 and set a “buy” rating on the stock in a research report on Thursday, December 5th. One investment analyst has rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $17.75.

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.