Jupiter Topco LLC purchased a new stake in shares of NETSTREIT Corp. (NYSE:NTST – Free Report) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 1,747,210 shares of the company’s stock, valued at approximately $36,959,000.
Several other large investors have also recently bought and sold shares of the business. Loomis Sayles & Co. L P grew its stake in NETSTREIT by 959.0% during the 4th quarter. Loomis Sayles & Co. L P now owns 1,472 shares of the company’s stock valued at $26,000 after acquiring an additional 1,333 shares in the last quarter. EverSource Wealth Advisors LLC lifted its position in shares of NETSTREIT by 1,123.3% in the second quarter. EverSource Wealth Advisors LLC now owns 1,786 shares of the company’s stock worth $30,000 after purchasing an additional 1,640 shares in the last quarter. Kestra Advisory Services LLC acquired a new stake in shares of NETSTREIT during the fourth quarter worth approximately $44,000. Inspire Investing LLC acquired a new stake in shares of NETSTREIT during the fourth quarter worth approximately $45,000. Finally, Fulcrum Asset Management LLP purchased a new position in NETSTREIT during the fourth quarter valued at approximately $64,000.
NETSTREIT Price Performance
Shares of NTST opened at $20.49 on Friday. The firm has a market cap of $2.08 billion, a PE ratio of 136.60, a PEG ratio of 2.65 and a beta of 0.81. The firm’s 50 day moving average price is $21.13 and its 200 day moving average price is $20.46. The company has a debt-to-equity ratio of 0.88, a quick ratio of 3.54 and a current ratio of 3.55. NETSTREIT Corp. has a twelve month low of $17.02 and a twelve month high of $22.47.
NETSTREIT Cuts Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Tuesday, September 1st will be paid a $0.225 dividend. This represents a $0.90 annualized dividend and a dividend yield of 4.4%. The ex-dividend date of this dividend is Tuesday, September 1st. NETSTREIT’s payout ratio is presently 586.67%.
Wall Street Analysts Forecast Growth
Several research analysts have weighed in on the stock. Truist Financial upped their price objective on shares of NETSTREIT from $21.00 to $22.00 and gave the company a “buy” rating in a research note on Monday, May 11th. Weiss Ratings reissued a “hold (c+)” rating on shares of NETSTREIT in a research note on Friday, August 7th. Jefferies Financial Group reaffirmed a “buy” rating and issued a $25.00 price target on shares of NETSTREIT in a research note on Wednesday, July 29th. Wells Fargo & Company increased their price objective on NETSTREIT from $22.00 to $23.00 and gave the stock an “overweight” rating in a report on Monday, June 1st. Finally, Scotiabank reduced their price objective on NETSTREIT from $23.00 to $22.00 and set a “sector outperform” rating for the company in a research report on Thursday, June 18th. Thirteen investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $23.19.
Check Out Our Latest Research Report on NETSTREIT
Insider Transactions at NETSTREIT
In other NETSTREIT news, CEO Mark Manheimer acquired 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, June 18th. The stock was purchased at an average cost of $19.19 per share, for a total transaction of $95,950.00. Following the completion of the acquisition, the chief executive officer owned 415,260 shares of the company’s stock, valued at approximately $7,968,839.40. This trade represents a 1.22% increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.66% of the company’s stock.
NETSTREIT Company Profile
NetSTREIT Corp. is a real estate investment trust that specializes in the acquisition and management of single‐tenant, net lease retail properties across the United States. The company targets assets leased to investment‐grade or creditworthy tenants under long‐term, triple‐net leases, which generally shift property‐level expenses—such as taxes, insurance and maintenance—to the tenant. This business model is designed to generate predictable, stable income streams and to limit landlord responsibilities.
NetSTREIT’s portfolio encompasses a diversified mix of essential retail and service properties, including quick‐service restaurants, convenience stores, banks, automotive service centers and medical clinics.
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