NETSTREIT Corp. (NYSE:NTST) Shares Sold by Rush Island Management LP

Rush Island Management LP lessened its stake in NETSTREIT Corp. (NYSE:NTST) by 84.3% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 370,640 shares of the company’s stock after selling 1,994,324 shares during the quarter. NETSTREIT accounts for about 0.3% of Rush Island Management LP’s portfolio, making the stock its 14th largest holding. Rush Island Management LP owned about 0.45% of NETSTREIT worth $5,245,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Lazard Asset Management LLC acquired a new position in shares of NETSTREIT in the 4th quarter valued at about $41,000. PNC Financial Services Group Inc. increased its stake in shares of NETSTREIT by 861.1% in the 4th quarter. PNC Financial Services Group Inc. now owns 5,430 shares of the company’s stock valued at $77,000 after purchasing an additional 4,865 shares in the last quarter. Comerica Bank increased its stake in shares of NETSTREIT by 174.3% in the 4th quarter. Comerica Bank now owns 9,703 shares of the company’s stock valued at $137,000 after purchasing an additional 6,166 shares in the last quarter. Mariner LLC purchased a new position in shares of NETSTREIT in the 4th quarter valued at about $143,000. Finally, Prudent Man Advisors LLC purchased a new position in shares of NETSTREIT in the 4th quarter valued at about $143,000.

NETSTREIT Trading Up 1.7%

NTST opened at $15.71 on Friday. NETSTREIT Corp. has a one year low of $13.42 and a one year high of $17.99. The stock has a market capitalization of $1.28 billion, a PE ratio of -261.79 and a beta of 0.90. The business’s 50 day moving average price is $15.62 and its 200 day moving average price is $15.11. The company has a debt-to-equity ratio of 0.57, a quick ratio of 4.11 and a current ratio of 4.11.

NETSTREIT Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Monday, June 2nd will be issued a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 5.35%. The ex-dividend date of this dividend is Monday, June 2nd. NETSTREIT’s dividend payout ratio is presently -560.00%.

Insider Activity at NETSTREIT

In other news, CEO Mark Manheimer purchased 6,384 shares of the firm’s stock in a transaction on Monday, March 10th. The shares were bought at an average cost of $15.33 per share, for a total transaction of $97,866.72. Following the completion of the purchase, the chief executive officer now directly 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 purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Over the last three months, insiders have acquired 12,000 shares of company stock worth $183,172. Insiders own 0.58% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the company. Wells Fargo & Company assumed coverage on NETSTREIT in a research note on Monday, April 7th. They set an “overweight” rating and a $18.00 price objective for the company. Capital One Financial assumed coverage on NETSTREIT in a research note on Wednesday, February 12th. They set an “overweight” rating for the company. Mizuho boosted their price objective on NETSTREIT from $15.00 to $17.00 and gave the stock an “outperform” rating in a research note on Thursday, April 3rd. Finally, Raymond James dropped their price target on NETSTREIT from $19.00 to $17.00 and set a “strong-buy” rating for the company in a research report on Friday, January 17th. One equities research analyst has rated the stock with a hold rating, six have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $18.03.

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.