Bessemer Group Inc. Raises Stock Holdings in NETSTREIT Corp. $NTST

Key Points

• Bessemer Group Inc. increased its NETSTREIT stake by 35% in the first quarter, buying 103,100 additional shares and ending with 397,315 shares valued at about $7.48 million.
• Several other institutional investors also raised or initiated positions, including Principal Financial Group, Hsbc Holdings, and Fifth Third Bancorp, signaling continued hedge fund and institutional interest in the stock.
• NETSTREIT reported quarterly earnings of $0.06 per share, missing estimates, even though revenue came in above expectations; meanwhile, analysts still rate the stock a Moderate Buy with an average price target of $22.45.

Bessemer Group Inc. grew its position in NETSTREIT Corp. (NYSE:NTST - Free Report) by 35.0% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 397,315 shares of the company's stock after acquiring an additional 103,100 shares during the quarter. Bessemer Group Inc. owned about 0.41% of NETSTREIT worth $7,481,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the business. Sanctuary Advisors LLC raised its position in NETSTREIT by 9.1% in the 1st quarter. Sanctuary Advisors LLC now owns 18,923 shares of the company's stock valued at $356,000 after purchasing an additional 1,574 shares during the last quarter. Principal Financial Group Inc. grew its position in NETSTREIT by 3.4% during the 1st quarter. Principal Financial Group Inc. now owns 9,535,801 shares of the company's stock worth $179,560,000 after purchasing an additional 309,453 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its position in NETSTREIT by 39.0% during the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 37,842 shares of the company's stock worth $713,000 after purchasing an additional 10,623 shares during the last quarter. Fifth Third Bancorp purchased a new position in NETSTREIT during the 1st quarter worth $607,000. Finally, Hsbc Holdings PLC increased its stake in NETSTREIT by 46.0% in the first quarter. Hsbc Holdings PLC now owns 336,757 shares of the company's stock valued at $6,411,000 after purchasing an additional 106,075 shares during the period.

NETSTREIT Stock Performance

Shares of NTST opened at $22.24 on Monday. The stock has a market capitalization of $2.16 billion, a P/E ratio of 171.07, a P/E/G ratio of 2.87 and a beta of 0.82. The company has a debt-to-equity ratio of 0.81, a quick ratio of 2.84 and a current ratio of 2.84. NETSTREIT Corp. has a 1 year low of $17.02 and a 1 year high of $22.47. The company's fifty day moving average is $20.61 and its two-hundred day moving average is $19.88.

NETSTREIT (NYSE:NTST - Get Free Report) last released its earnings results on Monday, April 20th. The company reported $0.06 EPS for the quarter, missing the consensus estimate of $0.07 by ($0.01). The firm had revenue of $57.06 million during the quarter, compared to analyst estimates of $50.09 million. NETSTREIT had a return on equity of 0.78% and a net margin of 5.29%. On average, sell-side analysts predict that NETSTREIT Corp. will post 1.31 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the stock. Weiss Ratings raised shares of NETSTREIT from a "hold (c)" rating to a "hold (c+)" rating in a report on Tuesday, May 12th. Wells Fargo & Company raised their price target on NETSTREIT from $22.00 to $23.00 and gave the stock an "overweight" rating in a report on Monday, June 1st. Stifel Nicolaus boosted their price target on NETSTREIT from $21.00 to $22.25 and gave the company a "buy" rating in a research report on Tuesday, April 21st. UBS Group set a $22.00 price objective on NETSTREIT in a research note on Thursday, June 18th. Finally, Robert W. Baird increased their price objective on NETSTREIT from $21.00 to $22.00 and gave the stock an "outperform" rating in a research report on Tuesday, April 21st. Thirteen investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $22.45.

Insider Activity

In other NETSTREIT news, CEO Mark Manheimer acquired 5,000 shares of the stock in a transaction on Thursday, June 18th. The shares were bought at an average price of $19.19 per share, with a total value of $95,950.00. Following the acquisition, the chief executive officer owned 415,260 shares of the company's stock, valued at $7,968,839.40. This trade represents a 1.22% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Robin Mcbride Zeigler sold 7,192 shares of the business's stock in a transaction that occurred on Thursday, April 23rd. The stock was sold at an average price of $20.85, for a total value of $149,953.20. Following the transaction, the director owned 18,344 shares in the company, valued at $382,472.40. The trade was a 28.16% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.66% of the company's stock.

About NETSTREIT

NetSTREIT Corp. is a real estate investment trust that specializes in the acquisition and management of single‐tenant, net lease retail properties across the United States. The company targets assets leased to investment‐grade or creditworthy tenants under long‐term, triple‐net leases, which generally shift property‐level expenses—such as taxes, insurance and maintenance—to the tenant. This business model is designed to generate predictable, stable income streams and to limit landlord responsibilities.

NetSTREIT’s portfolio encompasses a diversified mix of essential retail and service properties, including quick‐service restaurants, convenience stores, banks, automotive service centers and medical clinics.

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