Kornitzer Capital Management Inc. KS Takes $846,000 Position in NETSTREIT Corp. $NTST

Kornitzer Capital Management Inc. KS bought a new position in shares of NETSTREIT Corp. (NYSE:NTST) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 50,000 shares of the company’s stock, valued at approximately $846,000. Kornitzer Capital Management Inc. KS owned about 0.06% of NETSTREIT as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Assetmark Inc. lifted its position in shares of NETSTREIT by 126.3% during the 1st quarter. Assetmark Inc. now owns 2,150 shares of the company’s stock worth $34,000 after buying an additional 1,200 shares during the last quarter. CWM LLC raised its stake in NETSTREIT by 78.2% during the 1st quarter. CWM LLC now owns 2,253 shares of the company’s stock worth $36,000 after acquiring an additional 989 shares in the last quarter. State of Wyoming purchased a new stake in NETSTREIT in the first quarter valued at $58,000. Hohimer Wealth Management LLC lifted its position in NETSTREIT by 6.2% in the first quarter. Hohimer Wealth Management LLC now owns 11,538 shares of the company’s stock valued at $183,000 after acquiring an additional 677 shares during the last quarter. Finally, Teacher Retirement System of Texas acquired a new position in NETSTREIT in the first quarter valued at $188,000.

Insider Buying and Selling at NETSTREIT

In other news, CEO Mark Manheimer acquired 5,600 shares of the stock in a transaction that occurred on Friday, September 5th. The shares were purchased at an average cost of $17.93 per share, for a total transaction of $100,408.00. Following the transaction, the chief executive officer directly owned 316,378 shares in the company, valued at approximately $5,672,657.54. This represents a 1.80% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. 0.58% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

NTST has been the subject of several research reports. Scotiabank reissued an “outperform” rating on shares of NETSTREIT in a report on Wednesday, August 27th. UBS Group lifted their price target on NETSTREIT from $20.00 to $21.00 and gave the stock a “buy” rating in a research report on Friday, August 15th. Cantor Fitzgerald initiated coverage on NETSTREIT in a report on Wednesday, October 1st. They issued an “overweight” rating and a $21.00 price objective for the company. Raymond James Financial restated a “strong-buy” rating and set a $21.00 target price on shares of NETSTREIT in a research report on Wednesday, July 30th. Finally, Mizuho upped their price target on shares of NETSTREIT from $17.00 to $20.00 and gave the company an “outperform” rating in a research report on Thursday, September 11th. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $20.20.

NETSTREIT Stock Down 0.1%

NETSTREIT stock opened at $19.27 on Monday. The stock has a 50 day moving average of $18.40 and a two-hundred day moving average of $17.34. NETSTREIT Corp. has a twelve month low of $13.42 and a twelve month high of $19.64. The stock has a market capitalization of $1.61 billion, a price-to-earnings ratio of -240.81, a PEG ratio of 3.12 and a beta of 0.90. The company has a current ratio of 3.83, a quick ratio of 3.83 and a debt-to-equity ratio of 0.70.

NETSTREIT Company Profile

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.