Avantax Advisory Services Inc. Cuts Stock Holdings in NETSTREIT Corp. (NYSE:NTST)

Avantax Advisory Services Inc. lowered its position in shares of NETSTREIT Corp. (NYSE:NTST) by 11.3% in the 4th quarter, Holdings Channel.com reports. The fund owned 12,449 shares of the company’s stock after selling 1,584 shares during the quarter. Avantax Advisory Services Inc.’s holdings in NETSTREIT were worth $176,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. PNC Financial Services Group Inc. lifted its position in NETSTREIT by 861.1% during the fourth 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 period. Prudent Man Advisors LLC bought a new position in shares of NETSTREIT during the 4th quarter valued at $143,000. Hohimer Wealth Management LLC bought a new stake in shares of NETSTREIT in the third quarter worth $166,000. Sanctuary Advisors LLC purchased a new stake in NETSTREIT during the third quarter valued at $169,000. Finally, Infrastructure Capital Advisors LLC bought a new position in NETSTREIT in the third quarter valued at about $177,000.

Analysts Set New Price Targets

A number of research firms have issued reports on NTST. Truist Financial cut their price target on NETSTREIT from $20.00 to $19.00 and set a “buy” rating for the company in a research note on Thursday, December 5th. Raymond James reduced their target price on shares of NETSTREIT from $19.00 to $17.00 and set a “strong-buy” rating for the company in a report on Friday, January 17th. Mizuho decreased their price target on shares of NETSTREIT from $17.00 to $15.00 and set an “outperform” rating on the stock in a research report on Wednesday, January 8th. Finally, Capital One Financial initiated coverage on shares of NETSTREIT in a research report on Wednesday, February 12th. They set an “overweight” rating for the company. One 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. According to MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $17.75.

Insider Buying and Selling

In related news, CEO Mark Manheimer bought 6,384 shares of the company’s stock in a transaction that occurred on Monday, March 10th. The stock was purchased at an average price of $15.33 per share, for a total transaction of $97,866.72. Following the completion of 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 ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Over the last 90 days, insiders acquired 12,000 shares of company stock worth $183,172. 0.46% of the stock is owned by corporate insiders.

NETSTREIT Stock Up 1.7 %

NTST opened at $15.60 on Friday. The stock has a market cap of $1.27 billion, a price-to-earnings ratio of -259.87 and a beta of 0.99. The company has a debt-to-equity ratio of 0.57, a quick ratio of 4.11 and a current ratio of 4.11. The firm’s fifty day moving average is $14.69 and its 200 day moving average is $15.24. NETSTREIT Corp. has a fifty-two week low of $13.42 and a fifty-two week high of $18.97.

NETSTREIT Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 14th will be paid a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 5.39%. The ex-dividend date of this dividend is Friday, March 14th. NETSTREIT’s dividend payout ratio (DPR) is -525.00%.

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.