Two Sigma Investments LP Has $13.49 Million Position in NETSTREIT Corp. (NYSE:NTST)

Two Sigma Investments LP decreased its stake in shares of NETSTREIT Corp. (NYSE:NTST) by 22.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 953,184 shares of the company’s stock after selling 269,045 shares during the period. Two Sigma Investments LP’s holdings in NETSTREIT were worth $13,488,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Lazard Asset Management LLC bought a new stake in shares of NETSTREIT during the fourth quarter worth $41,000. PNC Financial Services Group Inc. increased its position in shares of 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 in the last quarter. Comerica Bank increased its position in shares of NETSTREIT by 174.3% during the fourth quarter. Comerica Bank now owns 9,703 shares of the company’s stock worth $137,000 after acquiring an additional 6,166 shares in the last quarter. Prudent Man Advisors LLC acquired a new position in shares of NETSTREIT during the fourth quarter worth about $143,000. Finally, Mariner LLC acquired a new position in shares of NETSTREIT during the fourth quarter worth about $143,000.

Insider Activity at NETSTREIT

In other news, CEO Mark Manheimer bought 3,616 shares of the business’s stock in a transaction that occurred on Friday, March 7th. The stock was acquired at an average cost of $15.22 per share, for a total transaction of $55,035.52. Following the purchase, the chief executive officer now owns 295,252 shares of the company’s stock, valued at approximately $4,493,735.44. This trade represents a 1.24% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In the last ninety days, insiders bought 12,000 shares of company stock worth $183,172. Insiders own 0.58% of the company’s stock.

Analyst Upgrades and Downgrades

NTST has been the subject of several recent research reports. Wells Fargo & Company initiated coverage on NETSTREIT in a research report on Monday, April 7th. They set an “overweight” rating and a $18.00 price objective for the company. Mizuho boosted their price objective on shares of NETSTREIT from $15.00 to $17.00 and gave the stock an “outperform” rating in a research report on Thursday, April 3rd. Capital One Financial started coverage on shares of NETSTREIT in a research report on Wednesday, February 12th. They issued an “overweight” rating on the stock. Finally, Raymond James boosted their price objective on shares of NETSTREIT from $17.00 to $18.00 and gave the stock a “strong-buy” rating in a research report on Friday. One research analyst has rated the stock with a hold rating, six have issued a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $18.16.

NETSTREIT Price Performance

NYSE:NTST opened at $15.63 on Friday. NETSTREIT Corp. has a 1-year low of $13.42 and a 1-year high of $17.53. The company has a current ratio of 4.11, a quick ratio of 4.11 and a debt-to-equity ratio of 0.57. The firm has a fifty day simple moving average of $15.69 and a 200 day simple moving average of $15.12. The stock has a market capitalization of $1.28 billion, a PE ratio of -260.51 and a beta of 0.90.

NETSTREIT Announces Dividend

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 $0.21 dividend. The ex-dividend date is Monday, June 2nd. This represents a $0.84 annualized dividend and a dividend yield of 5.37%. NETSTREIT’s dividend payout ratio is presently -560.00%.

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.