Quantbot Technologies LP Sells 44,251 Shares of NETSTREIT Corp. (NYSE:NTST)

Quantbot Technologies LP reduced its stake in NETSTREIT Corp. (NYSE:NTST) by 30.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 100,699 shares of the company’s stock after selling 44,251 shares during the period. Quantbot Technologies LP owned 0.12% of NETSTREIT worth $1,425,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of NTST. Principal Financial Group Inc. grew its stake in NETSTREIT by 46.4% in the fourth quarter. Principal Financial Group Inc. now owns 4,800,208 shares of the company’s stock worth $67,924,000 after purchasing an additional 1,521,668 shares in the last quarter. Tributary Capital Management LLC bought a new position in shares of NETSTREIT during the 4th quarter worth $12,633,000. Sumitomo Mitsui Trust Group Inc. increased its stake in shares of NETSTREIT by 36.7% during the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,207,703 shares of the company’s stock valued at $31,239,000 after buying an additional 592,439 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of NETSTREIT by 765.7% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 635,707 shares of the company’s stock valued at $10,508,000 after acquiring an additional 562,273 shares in the last quarter. Finally, Nordea Investment Management AB purchased a new stake in NETSTREIT in the fourth quarter worth about $6,714,000.

Insider Activity at NETSTREIT

In related news, CEO Mark Manheimer bought 3,616 shares of the company’s stock in a transaction on Friday, March 7th. The shares were bought at an average price of $15.22 per share, with a total value of $55,035.52. Following the transaction, the chief executive officer now owns 295,252 shares in the company, 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 legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have acquired 12,000 shares of company stock valued at $183,172 in the last ninety days. Corporate insiders own 0.46% of the company’s stock.

NETSTREIT Price Performance

Shares of NTST opened at $15.27 on Tuesday. The company has a 50 day moving average of $14.62 and a two-hundred day moving average of $15.25. The company has a market cap of $1.25 billion, a price-to-earnings ratio of -254.37 and a beta of 0.99. 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 Corp. has a twelve month low of $13.42 and a twelve month high of $18.97.

NETSTREIT Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be given a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 5.50%. The ex-dividend date of this dividend is Friday, March 14th. NETSTREIT’s dividend payout ratio is currently -525.00%.

Wall Street Analysts Forecast Growth

A number of research firms have commented on NTST. Raymond James cut their target price on shares of NETSTREIT from $19.00 to $17.00 and set a “strong-buy” rating on the stock in a research report on Friday, January 17th. Capital One Financial began coverage on shares of NETSTREIT in a report on Wednesday, February 12th. They set an “overweight” rating on the stock. Mizuho lowered their target price on NETSTREIT from $17.00 to $15.00 and set an “outperform” rating for the company in a report on Wednesday, January 8th. Finally, Truist Financial dropped 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 analyst has rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock currently 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.