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

Kornitzer Capital Management Inc. KS purchased a new stake in NETSTREIT Corp. (NYSE:NTST) in the 2nd quarter, Holdings Channel reports. The fund purchased 50,000 shares of the company’s stock, valued at approximately $846,000.

A number of other institutional investors have also recently modified their holdings of NTST. Strs Ohio purchased a new position in NETSTREIT in the first quarter worth $8,676,000. Vanguard Group Inc. increased its holdings in shares of NETSTREIT by 4.0% in the 1st quarter. Vanguard Group Inc. now owns 8,275,681 shares of the company’s stock valued at $131,170,000 after purchasing an additional 315,888 shares in the last quarter. Swiss National Bank lifted its stake in shares of NETSTREIT by 3.9% in the first quarter. Swiss National Bank now owns 158,100 shares of the company’s stock valued at $2,506,000 after purchasing an additional 5,900 shares during the period. New Age Alpha Advisors LLC boosted its holdings in NETSTREIT by 173.5% during the first quarter. New Age Alpha Advisors LLC now owns 170,667 shares of the company’s stock worth $2,705,000 after buying an additional 108,274 shares in the last quarter. Finally, Envestnet Asset Management Inc. grew its position in NETSTREIT by 12.5% during the first quarter. Envestnet Asset Management Inc. now owns 173,642 shares of the company’s stock worth $2,752,000 after buying an additional 19,234 shares during the period.

Insider Buying and Selling

In other news, CEO Mark Manheimer bought 5,600 shares of the stock in a transaction on Friday, September 5th. The stock was purchased at an average cost of $17.93 per share, with a total value of $100,408.00. Following the purchase, the chief executive officer owned 316,378 shares of the company’s stock, valued at approximately $5,672,657.54. The trade was a 1.80% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at this link. Insiders own 0.58% of the company’s stock.

NETSTREIT Price Performance

NYSE:NTST opened at $19.27 on Monday. NETSTREIT Corp. has a 12-month low of $13.42 and a 12-month high of $19.64. The firm has a market cap of $1.61 billion, a price-to-earnings ratio of -240.81, a price-to-earnings-growth ratio of 3.12 and a beta of 0.90. The company’s 50-day moving average is $18.40 and its two-hundred day moving average is $17.34. The company has a current ratio of 3.83, a quick ratio of 3.83 and a debt-to-equity ratio of 0.70.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on NTST shares. Raymond James Financial reiterated a “strong-buy” rating and set a $21.00 price target on shares of NETSTREIT in a research report on Wednesday, July 30th. Truist Financial set a $19.00 price objective on NETSTREIT in a report on Friday, July 25th. Bank of America raised NETSTREIT from an “underperform” rating to a “neutral” rating and upped their target price for the company from $18.00 to $19.00 in a report on Monday, July 28th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of NETSTREIT in a research note on Saturday. Finally, Mizuho increased their price objective on shares of NETSTREIT from $17.00 to $20.00 and gave the company an “outperform” rating in a research note on Thursday, September 11th. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $20.20.

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.