Corebridge Financial Inc. Decreases Position in NETSTREIT Corp. (NYSE:NTST)

Corebridge Financial Inc. lowered its stake in shares of NETSTREIT Corp. (NYSE:NTST) by 7.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 38,662 shares of the company’s stock after selling 2,919 shares during the quarter. Corebridge Financial Inc.’s holdings in NETSTREIT were worth $547,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. The Manufacturers Life Insurance Company increased its holdings in NETSTREIT by 5.5% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 38,137 shares of the company’s stock worth $630,000 after purchasing an additional 2,001 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of NETSTREIT by 765.7% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 635,707 shares of the company’s stock worth $10,508,000 after buying an additional 562,273 shares during the period. Janus Henderson Group PLC raised its holdings in NETSTREIT by 56.5% in the third quarter. Janus Henderson Group PLC now owns 43,800 shares of the company’s stock valued at $724,000 after acquiring an additional 15,821 shares in the last quarter. Stifel Financial Corp purchased a new position in NETSTREIT in the third quarter worth approximately $480,000. Finally, State Street Corp grew its holdings in NETSTREIT by 2.9% during the 3rd quarter. State Street Corp now owns 3,104,081 shares of the company’s stock worth $51,310,000 after acquiring an additional 87,669 shares in the last quarter.

NETSTREIT Stock Down 3.3 %

NETSTREIT stock opened at $14.78 on Tuesday. The stock has a 50-day simple moving average of $14.84 and a 200-day simple moving average of $15.15. The company has a market capitalization of $1.21 billion, a P/E ratio of -246.26 and a beta of 0.91. The company has a debt-to-equity ratio of 0.57, a quick ratio of 4.11 and a current ratio of 4.11. NETSTREIT Corp. has a fifty-two week low of $13.42 and a fifty-two week high of $18.10.

NETSTREIT Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Friday, March 14th were issued a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 5.68%. The ex-dividend date was Friday, March 14th. NETSTREIT’s payout ratio is currently -525.00%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the stock. Raymond James reduced their price objective on shares of NETSTREIT from $19.00 to $17.00 and set a “strong-buy” rating on the stock in a report on Friday, January 17th. Mizuho raised their price target on NETSTREIT from $15.00 to $17.00 and gave the company an “outperform” rating in a research note on Thursday, April 3rd. Wells Fargo & Company started coverage on NETSTREIT in a research report on Monday. They set an “overweight” rating and a $18.00 price objective for the company. Finally, Capital One Financial initiated coverage on NETSTREIT in a research report on Wednesday, February 12th. They set an “overweight” rating on the stock. One investment analyst has rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $18.03.

Insider Transactions at NETSTREIT

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

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.