Connor Clark & Lunn Investment Management Ltd. Has $1.24 Million Stake in NETSTREIT Corp. (NYSE:NTST)

Connor Clark & Lunn Investment Management Ltd. raised its position in shares of NETSTREIT Corp. (NYSE:NTST) by 1.5% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 77,943 shares of the company’s stock after buying an additional 1,115 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned about 0.10% of NETSTREIT worth $1,235,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of NTST. Principal Financial Group Inc. increased its holdings in shares of NETSTREIT by 61.3% during the first quarter. Principal Financial Group Inc. now owns 7,741,808 shares of the company’s stock worth $122,708,000 after buying an additional 2,941,600 shares in the last quarter. Hudson Bay Capital Management LP increased its holdings in shares of NETSTREIT by 195.9% in the fourth quarter. Hudson Bay Capital Management LP now owns 1,338,746 shares of the company’s stock valued at $18,943,000 after purchasing an additional 886,283 shares in the last quarter. DigitalBridge Group Inc. increased its holdings in shares of NETSTREIT by 1,175.4% in the fourth quarter. DigitalBridge Group Inc. now owns 953,968 shares of the company’s stock valued at $13,499,000 after purchasing an additional 879,168 shares in the last quarter. Lasalle Investment Management Securities LLC increased its holdings in shares of NETSTREIT by 30.8% in the fourth quarter. Lasalle Investment Management Securities LLC now owns 3,449,229 shares of the company’s stock valued at $48,807,000 after purchasing an additional 811,632 shares in the last quarter. Finally, Deprince Race & Zollo Inc. increased its holdings in shares of NETSTREIT by 30.9% in the fourth quarter. Deprince Race & Zollo Inc. now owns 3,044,157 shares of the company’s stock valued at $43,075,000 after purchasing an additional 718,193 shares in the last quarter.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Truist Financial set a $19.00 price target on shares of NETSTREIT in a report on Friday, July 25th. Bank of America raised shares of NETSTREIT from an “underperform” rating to a “neutral” rating and raised their price target for the company from $18.00 to $19.00 in a report on Monday, July 28th. Raymond James Financial reissued a “strong-buy” rating and issued a $21.00 price target on shares of NETSTREIT in a report on Wednesday, July 30th. UBS Group raised their price target on shares of NETSTREIT from $20.00 to $21.00 and gave the company a “buy” rating in a report on Friday. Finally, Robert W. Baird raised their price target on shares of NETSTREIT from $18.00 to $20.00 and gave the company an “outperform” rating in a report on Thursday, July 24th. Two research analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $18.93.

NETSTREIT Price Performance

NTST opened at $18.79 on Friday. The company has a fifty day moving average price of $17.51 and a two-hundred day moving average price of $16.10. The company has a debt-to-equity ratio of 0.70, a quick ratio of 3.83 and a current ratio of 3.83. NETSTREIT Corp. has a 52 week low of $13.42 and a 52 week high of $19.01. The firm has a market capitalization of $1.57 billion, a PE ratio of -234.88, a P/E/G ratio of 4.32 and a beta of 0.89.

NETSTREIT Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Tuesday, September 2nd will be issued a $0.215 dividend. This is a positive change from NETSTREIT’s previous quarterly dividend of $0.21. The ex-dividend date of this dividend is Tuesday, September 2nd. This represents a $0.86 annualized dividend and a dividend yield of 4.6%. NETSTREIT’s dividend payout ratio (DPR) is presently -1,075.00%.

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.