ExodusPoint Capital Management LP Has $3.86 Million Position in NETSTREIT Corp. (NYSE:NTST)

ExodusPoint Capital Management LP decreased its position in shares of NETSTREIT Corp. (NYSE:NTST) by 63.0% during the 4th quarter, HoldingsChannel.com reports. The fund owned 272,967 shares of the company’s stock after selling 464,013 shares during the period. ExodusPoint Capital Management LP’s holdings in NETSTREIT were worth $3,862,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. PNC Financial Services Group Inc. increased its stake in shares of NETSTREIT by 861.1% in the 4th quarter. PNC Financial Services Group Inc. now owns 5,430 shares of the company’s stock valued at $77,000 after purchasing an additional 4,865 shares during the last quarter. Hohimer Wealth Management LLC bought a new position in NETSTREIT in the third quarter valued at about $166,000. Prudent Man Advisors LLC acquired a new position in NETSTREIT during the fourth quarter worth about $143,000. Sanctuary Advisors LLC bought a new position in shares of NETSTREIT in the third quarter worth about $169,000. Finally, Envestnet Portfolio Solutions Inc. acquired a new stake in shares of NETSTREIT in the 4th quarter valued at approximately $152,000.

Insider Activity at NETSTREIT

In other news, CEO Mark Manheimer bought 3,616 shares of the stock in a transaction that occurred on Friday, March 7th. The stock was acquired at an average price of $15.22 per share, with a total value of $55,035.52. Following the completion of the purchase, the chief executive officer now directly owns 295,252 shares of the company’s stock, valued at approximately $4,493,735.44. This represents a 1.24 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Insiders have purchased 12,000 shares of company stock worth $183,172 over the last ninety days. Insiders own 0.46% of the company’s stock.

NETSTREIT Stock Down 2.0 %

Shares of NYSE:NTST opened at $15.31 on Monday. The firm has a market cap of $1.25 billion, a P/E ratio of -255.16 and a beta of 0.91. NETSTREIT Corp. has a 12-month low of $13.42 and a 12-month high of $18.10. The business has a fifty day simple moving average of $14.84 and a 200 day simple moving average of $15.16. 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 Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Friday, March 14th were paid a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 5.49%. The ex-dividend date of this dividend was Friday, March 14th. NETSTREIT’s dividend payout ratio is currently -525.00%.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. Capital One Financial began coverage on shares of NETSTREIT in a research note on Wednesday, February 12th. They issued an “overweight” rating for the company. Raymond James cut their price objective on NETSTREIT from $19.00 to $17.00 and set a “strong-buy” rating on the stock in a report on Friday, January 17th. Finally, Mizuho upped their target price on NETSTREIT from $15.00 to $17.00 and gave the stock an “outperform” rating in a report on Thursday. One research analyst has rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, NETSTREIT presently has a consensus rating of “Buy” and a consensus target price of $18.04.

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.