Norges Bank Makes New $3.04 Million Investment in NETSTREIT Corp. (NYSE:NTST)

Norges Bank bought a new stake in shares of NETSTREIT Corp. (NYSE:NTST) during the 4th quarter, Holdings Channel reports. The fund bought 214,900 shares of the company’s stock, valued at approximately $3,041,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. The Manufacturers Life Insurance Company boosted its holdings in NETSTREIT by 5.5% in the third quarter. The Manufacturers Life Insurance Company now owns 38,137 shares of the company’s stock valued at $630,000 after acquiring an additional 2,001 shares in the last quarter. Janus Henderson Group PLC boosted its stake in shares of NETSTREIT by 56.5% during the 3rd quarter. Janus Henderson Group PLC now owns 43,800 shares of the company’s stock valued at $724,000 after purchasing an additional 15,821 shares in the last quarter. Stifel Financial Corp purchased a new position in shares of NETSTREIT during the third quarter valued at about $480,000. State Street Corp raised its stake in NETSTREIT by 2.9% in the third quarter. State Street Corp now owns 3,104,081 shares of the company’s stock worth $51,310,000 after buying an additional 87,669 shares in the last quarter. Finally, Y Intercept Hong Kong Ltd bought a new stake in NETSTREIT during the 3rd quarter valued at approximately $457,000.

Insider Activity

In other NETSTREIT news, CEO Mark Manheimer purchased 6,384 shares of the stock in a transaction dated Monday, March 10th. The shares were purchased at an average cost of $15.33 per share, with a total value of $97,866.72. Following the completion of the acquisition, the chief executive officer now directly owns 304,572 shares in the company, valued at $4,669,088.76. This trade represents a 2.14 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders have bought a total of 12,000 shares of company stock worth $183,172 over the last 90 days. 0.46% of the stock is currently owned by insiders.

NETSTREIT Price Performance

NTST opened at $15.09 on Friday. NETSTREIT Corp. has a 1 year low of $13.42 and a 1 year high of $18.10. The stock has a 50-day moving average price of $14.88 and a 200-day moving average price of $15.12. The firm has a market cap of $1.23 billion, a PE ratio of -251.41 and a beta of 0.91. The company has a debt-to-equity ratio of 0.57, a current ratio of 4.11 and a quick ratio of 4.11.

NETSTREIT Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Friday, March 14th were paid a $0.21 dividend. The ex-dividend date was Friday, March 14th. This represents a $0.84 annualized dividend and a dividend yield of 5.57%. NETSTREIT’s dividend payout ratio is presently -525.00%.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the company. Mizuho increased their target price on NETSTREIT from $15.00 to $17.00 and gave the stock an “outperform” rating in a research report on Thursday, April 3rd. Raymond James lowered their price objective 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 started coverage on shares of NETSTREIT in a research report on Wednesday, February 12th. They issued an “overweight” rating on the stock. Finally, Wells Fargo & Company started coverage on shares of NETSTREIT in a research report on Monday. They set an “overweight” rating and a $18.00 price target for the company. One investment analyst has rated the stock with a hold rating, six have given a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, NETSTREIT currently has an average rating of “Buy” and an average price target 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.