Cbre Clarion Securities LLC boosted its stake in NETSTREIT Corp. (NYSE:NTST) by 19.0% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 547,206 shares of the company’s stock after purchasing an additional 87,435 shares during the quarter. Cbre Clarion Securities LLC owned about 1.39% of NETSTREIT worth $10,118,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Citigroup Inc. increased its holdings in NETSTREIT by 323.4% in the fourth quarter. Citigroup Inc. now owns 2,439 shares of the company’s stock valued at $48,000 after purchasing an additional 1,863 shares during the last quarter. Panagora Asset Management Inc. bought a new stake in NETSTREIT in the fourth quarter valued at about $50,000. Daiwa Securities Group Inc. bought a new stake in NETSTREIT in the fourth quarter valued at about $66,000. Public Employees Retirement System of Ohio bought a new stake in NETSTREIT in the fourth quarter valued at about $69,000. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. bought a new stake in NETSTREIT in the fourth quarter valued at about $94,000. Institutional investors and hedge funds own 62.87% of the company’s stock.
Shares of NETSTREIT stock traded up $0.07 during trading hours on Friday, hitting $23.77. The company’s stock had a trading volume of 2,154 shares, compared to its average volume of 340,130. NETSTREIT Corp. has a 12 month low of $16.63 and a 12 month high of $23.83. The stock has a 50 day simple moving average of $21.36. The company has a market capitalization of $936.66 million and a P/E ratio of 34.35. The company has a quick ratio of 2.58, a current ratio of 2.58 and a debt-to-equity ratio of 0.36.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 15th. Investors of record on Tuesday, June 1st will be issued a dividend of $0.20 per share. The ex-dividend date of this dividend is Monday, May 31st. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.37%. NETSTREIT’s payout ratio is presently 115.94%.
Separately, Zacks Investment Research downgraded NETSTREIT from a “hold” rating to a “sell” rating in a report on Wednesday, April 14th. One analyst has rated the stock with a sell rating, one has issued a hold rating and nine have issued a buy rating to the company. NETSTREIT has an average rating of “Buy” and a consensus target price of $21.25.
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.
Further Reading: Special Purpose Acquisition Company (SPAC)
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