NETSTREIT Corp. (NYSE:NTST) Shares Sold by Cubist Systematic Strategies LLC

Cubist Systematic Strategies LLC decreased its position in NETSTREIT Corp. (NYSE:NTST) by 27.7% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 303,025 shares of the company’s stock after selling 116,023 shares during the period. Cubist Systematic Strategies LLC’s holdings in NETSTREIT were worth $4,288,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in NTST. PNC Financial Services Group Inc. increased its stake in NETSTREIT by 861.1% during the fourth quarter. PNC Financial Services Group Inc. now owns 5,430 shares of the company’s stock worth $77,000 after acquiring an additional 4,865 shares during the last quarter. Comerica Bank increased its position in shares of NETSTREIT by 174.3% during the 4th quarter. Comerica Bank now owns 9,703 shares of the company’s stock worth $137,000 after purchasing an additional 6,166 shares during the last quarter. Mariner LLC purchased a new stake in NETSTREIT in the 4th quarter valued at about $143,000. Prudent Man Advisors LLC acquired a new position in NETSTREIT in the fourth quarter valued at about $143,000. Finally, Envestnet Portfolio Solutions Inc. acquired a new stake in shares of NETSTREIT during the fourth quarter valued at about $152,000.

NETSTREIT Stock Up 1.2 %

Shares of NETSTREIT stock opened at $16.17 on Friday. 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 Corp. has a 52-week low of $13.42 and a 52-week high of $18.10. The company has a market capitalization of $1.32 billion, a P/E ratio of -269.46 and a beta of 0.90. The company has a 50 day moving average of $15.57 and a 200 day moving average of $15.12.

NETSTREIT Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Monday, June 2nd will be paid a dividend of $0.21 per share. The ex-dividend date is Monday, June 2nd. This represents a $0.84 dividend on an annualized basis and a dividend yield of 5.19%. NETSTREIT’s payout ratio is currently -560.00%.

Insider Activity at NETSTREIT

In other NETSTREIT news, CEO Mark Manheimer acquired 6,384 shares of the stock in a transaction dated Monday, March 10th. The stock was acquired at an average cost of $15.33 per share, with a total value of $97,866.72. Following the transaction, the chief executive officer now owns 304,572 shares in the company, valued at $4,669,088.76. The trade was a 2.14 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have acquired 12,000 shares of company stock valued at $183,172 over the last quarter. 0.58% of the stock is owned by insiders.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. Wells Fargo & Company started coverage on shares of NETSTREIT in a research report on Monday, April 7th. They set an “overweight” rating and a $18.00 price objective for the company. Raymond James lowered their price target on NETSTREIT from $19.00 to $17.00 and set a “strong-buy” rating for the company in a research report on Friday, January 17th. Capital One Financial assumed coverage on NETSTREIT in a report on Wednesday, February 12th. They issued an “overweight” rating on the stock. Finally, Mizuho raised their target price on NETSTREIT from $15.00 to $17.00 and gave the company an “outperform” rating in a report on Thursday, April 3rd. One analyst has rated the stock with a hold rating, six have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price 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.