American Century Companies Inc. grew its position in NETSTREIT Corp. (NYSE:NTST – Free Report) by 15.8% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,604,424 shares of the company’s stock after buying an additional 218,607 shares during the quarter. American Century Companies Inc. owned 2.64% of NETSTREIT worth $29,286,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors and hedge funds have also recently modified their holdings of NTST. Migdal Insurance & Financial Holdings Ltd. boosted its position in NETSTREIT by 103.2% in the 1st quarter. Migdal Insurance & Financial Holdings Ltd. now owns 2,056 shares of the company’s stock valued at $37,000 after buying an additional 1,044 shares during the period. FMR LLC grew its stake in NETSTREIT by 62.4% during the 2nd quarter. FMR LLC now owns 2,936 shares of the company’s stock worth $55,000 after purchasing an additional 1,128 shares in the last quarter. Point72 Hong Kong Ltd purchased a new stake in NETSTREIT during the 1st quarter worth about $64,000. Royal Bank of Canada raised its position in NETSTREIT by 18.2% in the 3rd quarter. Royal Bank of Canada now owns 4,260 shares of the company’s stock valued at $75,000 after purchasing an additional 655 shares in the last quarter. Finally, Coppell Advisory Solutions Corp. purchased a new position in shares of NETSTREIT in the 4th quarter valued at about $91,000.
Analysts Set New Price Targets
A number of brokerages recently commented on NTST. BNP Paribas initiated coverage on shares of NETSTREIT in a research note on Wednesday, June 14th. They set an “outperform” rating and a $23.00 target price for the company. Stifel Nicolaus lowered their target price on shares of NETSTREIT from $21.50 to $21.00 in a report on Friday, July 7th. Wolfe Research lowered shares of NETSTREIT from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, July 5th. Finally, TheStreet upgraded shares of NETSTREIT from a “d+” rating to a “c” rating in a research report on Monday, August 14th. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $21.75.
NETSTREIT Price Performance
Shares of NYSE NTST opened at $17.05 on Wednesday. The company has a current ratio of 3.27, a quick ratio of 3.27 and a debt-to-equity ratio of 0.40. The company’s 50-day moving average price is $17.60 and its 200 day moving average price is $18.14. NETSTREIT Corp. has a 52 week low of $16.74 and a 52 week high of $20.64. The stock has a market cap of $1.14 billion, a price-to-earnings ratio of 170.50, a PEG ratio of 2.77 and a beta of 0.91.
NETSTREIT Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Friday, September 1st will be given a dividend of $0.205 per share. The ex-dividend date of this dividend is Thursday, August 31st. This represents a $0.82 dividend on an annualized basis and a yield of 4.81%. This is a positive change from NETSTREIT’s previous quarterly dividend of $0.20. NETSTREIT’s dividend payout ratio (DPR) is 800.00%.
NETSTREIT Company Profile
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.
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