LPL Financial LLC Makes New Investment in NETSTREIT Corp. (NYSE:NTST)

LPL Financial LLC purchased a new stake in shares of NETSTREIT Corp. (NYSE:NTST) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 16,678 shares of the company’s stock, valued at approximately $236,000.

Several other institutional investors have also recently made changes to their positions in the business. Swiss National Bank increased its holdings in NETSTREIT by 5.7% during the fourth quarter. Swiss National Bank now owns 152,200 shares of the company’s stock valued at $2,154,000 after buying an additional 8,200 shares during the last quarter. Nordea Investment Management AB bought a new stake in shares of NETSTREIT during the 4th quarter valued at $6,714,000. JPMorgan Chase & Co. increased its stake in shares of NETSTREIT by 173.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 569,527 shares of the company’s stock worth $9,414,000 after purchasing an additional 361,577 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in NETSTREIT by 5.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,133,552 shares of the company’s stock worth $16,040,000 after purchasing an additional 55,378 shares during the period. Finally, Bank of New York Mellon Corp lifted its position in NETSTREIT by 7.6% during the fourth quarter. Bank of New York Mellon Corp now owns 346,688 shares of the company’s stock valued at $4,906,000 after purchasing an additional 24,442 shares in the last quarter.

NETSTREIT Trading Up 1.9 %

NETSTREIT stock opened at $15.95 on Wednesday. NETSTREIT Corp. has a 1 year low of $13.42 and a 1 year high of $18.10. The firm’s 50 day moving average price is $15.36 and its 200-day moving average price is $15.12. The company has a debt-to-equity ratio of 0.57, a current ratio of 4.11 and a quick ratio of 4.11. The stock has a market cap of $1.30 billion, a P/E ratio of -265.79 and a beta of 0.91.

NETSTREIT Dividend Announcement

The business 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. This represents a $0.84 annualized dividend and a yield of 5.27%. The ex-dividend date of this dividend is Monday, June 2nd. NETSTREIT’s payout ratio is currently -525.00%.

Insiders Place Their Bets

In other news, CEO Mark Manheimer bought 6,384 shares of NETSTREIT stock in a transaction dated Monday, March 10th. The shares were purchased at an average cost of $15.33 per share, with a total value of $97,866.72. Following the completion of the acquisition, the chief executive officer now owns 304,572 shares of the company’s stock, valued at $4,669,088.76. This trade represents a 2.14 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders have purchased a total of 12,000 shares of company stock worth $183,172 in the last 90 days. 0.58% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of analysts have commented on NTST shares. Capital One Financial assumed coverage on NETSTREIT in a research report on Wednesday, February 12th. They issued an “overweight” rating for the company. Mizuho increased their target price on shares of NETSTREIT from $15.00 to $17.00 and gave the stock an “outperform” rating in a report on Thursday, April 3rd. Wells Fargo & Company began coverage on shares of NETSTREIT in a report on Monday, April 7th. They set an “overweight” rating and a $18.00 price target on the stock. Finally, Raymond James dropped their price target on shares of NETSTREIT from $19.00 to $17.00 and set a “strong-buy” rating for the company in a research report on Friday, January 17th. One investment analyst has rated the stock with a hold rating, six have given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, NETSTREIT has an average rating of “Buy” and a consensus price target of $18.03.

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.