Lighthouse Investment Partners LLC Decreases Stock Holdings in NETSTREIT Corp. (NYSE:NTST)

Lighthouse Investment Partners LLC trimmed its holdings in NETSTREIT Corp. (NYSE:NTST) by 36.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 700,000 shares of the company’s stock after selling 400,000 shares during the quarter. Lighthouse Investment Partners LLC’s holdings in NETSTREIT were worth $9,905,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. PNC Financial Services Group Inc. lifted its stake in NETSTREIT by 861.1% in the 4th quarter. PNC Financial Services Group Inc. now owns 5,430 shares of the company’s stock worth $77,000 after purchasing an additional 4,865 shares in the last quarter. Comerica Bank lifted its stake in NETSTREIT by 174.3% in the 4th quarter. Comerica Bank now owns 9,703 shares of the company’s stock worth $137,000 after purchasing an additional 6,166 shares in the last quarter. Mariner LLC purchased a new position in NETSTREIT in the 4th quarter worth approximately $143,000. Prudent Man Advisors LLC purchased a new position in NETSTREIT in the 4th quarter worth approximately $143,000. Finally, Envestnet Portfolio Solutions Inc. purchased a new position in NETSTREIT in the 4th quarter worth approximately $152,000.

NETSTREIT Stock Performance

NYSE:NTST opened at $16.17 on Monday. The company has a fifty day simple moving average of $15.57 and a two-hundred day simple moving average of $15.10. The company has a market cap of $1.32 billion, a price-to-earnings ratio of -269.46 and a beta of 0.90. 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 52 week low of $13.42 and a 52 week high of $18.10.

NETSTREIT Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Monday, June 2nd will be paid a $0.21 dividend. The ex-dividend date is Monday, June 2nd. This represents a $0.84 annualized dividend and a dividend yield of 5.19%. NETSTREIT’s dividend payout ratio (DPR) is -560.00%.

Analyst Upgrades and Downgrades

Several analysts have recently commented on NTST shares. Capital One Financial started coverage on shares of NETSTREIT in a research report on Wednesday, February 12th. They set an “overweight” rating on the stock. Raymond James reduced their price target 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. Wells Fargo & Company started coverage on shares of NETSTREIT in a research report on Monday, April 7th. They set an “overweight” rating and a $18.00 price target on the stock. Finally, Mizuho lifted their price target on shares of NETSTREIT from $15.00 to $17.00 and gave the company an “outperform” rating in a research report on Thursday, April 3rd. One investment analyst has rated the stock with a hold rating, six have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $18.03.

Insiders Place Their Bets

In other NETSTREIT news, CEO Mark Manheimer purchased 6,384 shares of the company’s stock in a transaction on Monday, March 10th. The stock was acquired at an average price 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 in the company, valued at approximately $4,669,088.76. The trade was a 2.14% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders acquired a total of 12,000 shares of company stock worth $183,172 over the last 90 days. Corporate insiders own 0.58% of the company’s stock.

NETSTREIT 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.