Aberdeen Group plc Grows Stock Holdings in NETSTREIT Corp. $NTST

Aberdeen Group plc raised its holdings in NETSTREIT Corp. (NYSE:NTST) by 13.0% in the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 24,562 shares of the company’s stock after acquiring an additional 2,831 shares during the period. Aberdeen Group plc’s holdings in NETSTREIT were worth $416,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the business. Assetmark Inc. increased its stake in NETSTREIT by 126.3% in the first quarter. Assetmark Inc. now owns 2,150 shares of the company’s stock valued at $34,000 after purchasing an additional 1,200 shares during the last quarter. CWM LLC increased its stake in shares of NETSTREIT by 78.2% during the 1st quarter. CWM LLC now owns 2,253 shares of the company’s stock valued at $36,000 after acquiring an additional 989 shares during the last quarter. State of Wyoming purchased a new position in shares of NETSTREIT during the 1st quarter worth about $58,000. GAMMA Investing LLC boosted its position in shares of NETSTREIT by 2,779.7% in the first quarter. GAMMA Investing LLC now owns 7,228 shares of the company’s stock worth $115,000 after acquiring an additional 6,977 shares during the last quarter. Finally, Hohimer Wealth Management LLC grew its holdings in NETSTREIT by 6.2% in the first quarter. Hohimer Wealth Management LLC now owns 11,538 shares of the company’s stock valued at $183,000 after purchasing an additional 677 shares during the period.

Insider Buying and Selling

In related news, CEO Mark Manheimer purchased 5,600 shares of the firm’s stock in a transaction on Friday, September 5th. The stock was purchased at an average price of $17.93 per share, for a total transaction of $100,408.00. Following the acquisition, the chief executive officer directly owned 316,378 shares in the company, valued at $5,672,657.54. The trade was a 1.80% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.58% of the company’s stock.

NETSTREIT Stock Up 0.1%

Shares of NYSE NTST opened at $19.04 on Friday. The stock has a fifty day moving average price of $18.35 and a 200 day moving average price of $17.18. The company has a current ratio of 3.83, a quick ratio of 3.83 and a debt-to-equity ratio of 0.70. NETSTREIT Corp. has a 12-month low of $13.42 and a 12-month high of $19.21. The company has a market cap of $1.59 billion, a P/E ratio of -238.00, a P/E/G ratio of 3.08 and a beta of 0.90.

NETSTREIT Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Tuesday, September 2nd were issued a dividend of $0.215 per share. This represents a $0.86 annualized dividend and a dividend yield of 4.5%. The ex-dividend date was Tuesday, September 2nd. This is an increase from NETSTREIT’s previous quarterly dividend of $0.21. NETSTREIT’s dividend payout ratio (DPR) is -1,075.00%.

Analyst Upgrades and Downgrades

NTST has been the topic of a number of recent analyst reports. Scotiabank reaffirmed an “outperform” rating on shares of NETSTREIT in a research note on Wednesday, August 27th. Truist Financial set a $19.00 target price on NETSTREIT in a research report on Friday, July 25th. UBS Group lifted their target price on NETSTREIT from $20.00 to $21.00 and gave the company a “buy” rating in a report on Friday, August 15th. Mizuho upped their price target on NETSTREIT from $17.00 to $20.00 and gave the stock an “outperform” rating in a research note on Thursday, September 11th. Finally, Raymond James Financial restated a “strong-buy” rating and issued a $21.00 price objective on shares of NETSTREIT in a report on Wednesday, July 30th. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, NETSTREIT has an average rating of “Moderate Buy” and an average target price of $20.20.

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.