Mirae Asset Global Investments Co. Ltd. Purchases 2,419 Shares of NETSTREIT Corp. (NYSE:NTST)

Posted by Defense World Staff on Jun 1st, 2023

Mirae Asset Global Investments Co. Ltd. lifted its position in shares of NETSTREIT Corp. (NYSE:NTST – Get Rating) by 7.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 36,862 shares of the company’s stock after purchasing an additional 2,419 shares during the period. Mirae Asset Global Investments Co. Ltd. owned about 0.07% of NETSTREIT worth $676,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in NTST. Envestnet Asset Management Inc. bought a new stake in shares of NETSTREIT during the first quarter worth about $277,000. Raymond James & Associates grew its holdings in shares of NETSTREIT by 18.0% during the first quarter. Raymond James & Associates now owns 13,693 shares of the company’s stock worth $307,000 after purchasing an additional 2,092 shares during the last quarter. MetLife Investment Management LLC grew its holdings in shares of NETSTREIT by 58.5% during the first quarter. MetLife Investment Management LLC now owns 23,148 shares of the company’s stock worth $519,000 after purchasing an additional 8,543 shares during the last quarter. Great West Life Assurance Co. Can grew its holdings in shares of NETSTREIT by 5.4% during the first quarter. Great West Life Assurance Co. Can now owns 33,856 shares of the company’s stock worth $789,000 after purchasing an additional 1,746 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in shares of NETSTREIT by 20.6% during the first quarter. Dimensional Fund Advisors LP now owns 190,470 shares of the company’s stock worth $4,274,000 after purchasing an additional 32,500 shares during the last quarter.

NETSTREIT Price Performance

NETSTREIT stock opened at $17.45 on Thursday. NETSTREIT Corp. has a one year low of $17.07 and a one year high of $21.48. The company has a debt-to-equity ratio of 0.43, a current ratio of 3.00 and a quick ratio of 3.00. The stock’s 50 day moving average is $17.95 and its 200 day moving average is $18.83. The firm has a market cap of $1.06 billion, a P/E ratio of 116.30, a P/E/G ratio of 2.10 and a beta of 0.93.

NETSTREIT Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 15th. Shareholders of record on Thursday, June 1st will be paid a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 4.59%. The ex-dividend date is Wednesday, May 31st. NETSTREIT’s dividend payout ratio (DPR) is presently 533.33%.

Analyst Ratings Changes

NTST has been the topic of several research reports. Scotiabank cut NETSTREIT from a “sector outperform” rating to a “sector perform” rating and reduced their price target for the stock from $22.00 to $20.00 in a report on Wednesday, April 12th. Stifel Nicolaus cut their price objective on NETSTREIT from $22.50 to $21.50 in a research note on Thursday, April 27th. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $21.94.

NETSTREIT Company Profile

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NETSTREIT 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.