Swiss National Bank lifted its stake in shares of NETSTREIT Corp. (NYSE:NTST – Get Rating) by 7.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 121,600 shares of the company’s stock after purchasing an additional 8,000 shares during the period. Swiss National Bank owned approximately 0.22% of NETSTREIT worth $2,229,000 at the end of the most recent reporting period.
Other large investors also recently modified their holdings of the company. FMR LLC lifted its holdings in NETSTREIT by 62.4% in the second quarter. FMR LLC now owns 2,936 shares of the company’s stock valued at $55,000 after buying an additional 1,128 shares during the period. Point72 Hong Kong Ltd acquired a new position in NETSTREIT in the first quarter valued at approximately $64,000. Royal Bank of Canada lifted its holdings in NETSTREIT by 18.2% in the third quarter. Royal Bank of Canada now owns 4,260 shares of the company’s stock valued at $75,000 after buying an additional 655 shares during the period. Sandia Investment Management LP acquired a new position in NETSTREIT in the third quarter valued at approximately $89,000. Finally, Amalgamated Bank lifted its holdings in NETSTREIT by 29.2% in the third quarter. Amalgamated Bank now owns 7,875 shares of the company’s stock valued at $140,000 after buying an additional 1,780 shares during the period.
Analyst Ratings Changes
NTST has been the topic of several analyst reports. Scotiabank lowered shares of NETSTREIT from a “sector outperform” rating to a “sector perform” rating and cut their price objective for the company from $22.00 to $20.00 in a report on Wednesday, April 12th. Stifel Nicolaus lowered their target price on shares of NETSTREIT from $22.50 to $21.50 in a research note on Thursday, April 27th. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, NETSTREIT presently has an average rating of “Moderate Buy” and an average price target of $21.94.
NETSTREIT Stock Down 2.0 %
NETSTREIT Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 15th. Investors of record on Thursday, June 1st will be given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 4.56%. The ex-dividend date is Wednesday, May 31st. NETSTREIT’s dividend payout ratio (DPR) is currently 533.33%.
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.
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