Cohen & Steers Capital Management has recently announced that it has increased stake in Netstreit Corp (NYSE:NTST) by 743.17%. After grabbing 8.96 million shares, the institutional investor is now in possession of 7.9 million shares of the Real Estate Company. The new investment brought the stake of investor firm to 13.04% having worth around $137.83 million. Moreover, The Vanguard Group, Inc. increased its share by 0.46 million to have a control over 6.3 million shares. And BlackRock Fund Advisors raised its holdings to 0.35 million shares by acquiring 5.31 million shares or 7.73% of the stake.
Netstreit Corp (NTST) concluded trading on 01/10/24 at a closing price of $18.62, with 4.93 million shares of worth about $91.84 million changed hands on the day. Half year performance of the stock remained positive as price took a surge of 6.28% during that period and on Wednesday the price saw a gain of about 0.87%. Currently the company’s common shares owned by public are about 68.70M shares, out of which, 68.40M shares are available for trading.
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According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 32 times over the past 12 months. They bought 90,919 shares in 22 of the transactions. In 10 selling transactions, insiders dumped 18,655 shares.
Cohen & Steers Real Estate Securi, T Rowe Price Small Cap Value Fund, and Vanguard Real Estate Index Fund are the top 3 mutual funds which are holding stakes in Netstreit Corp Cohen & Steers Real Estate Securi is currently holding 3.64 million shares of worth totaling $56.04 million. The company recently came buying 3.64 million shares which brought its stake up to 5.30% of the company’s outstanding shares. T Rowe Price Small Cap Value Fund bought 0.9 million shares, after which its hold over company’s outstanding shares expand to 4.45%, leaving 3.06 million shares with the mutual fund that have a worth of about $47.03 million. Vanguard Real Estate Index Fund, after selling 2.51 million shares, have now control over 3.65% of the stake in the company. It holds 11249.0 shares of worth $38.59 million.
Netstreit Corp (NYSE: NTST) started trading at $18.40, below -$0.06 from concluding price of the previous day. However, the stock later moved at a day high price of 18.73, or with a gain of 0.87%. Stock saw a price change of 2.76% in past 5 days and over the past one month there was a price change of 12.03%. Year-to-date (YTD), NTST shares are showing a performance of 4.31% which decreased to -1.95% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $13.49 but also hit the highest price of $20.64 during that period. The average intraday trading volume for Netstreit Corp shares is 872.18K. The stock is currently trading 5.66% above its 20-day simple moving average (SMA20), while that difference is up 13.70% for SMA50 and it goes to 9.37% higher than SMA200.
Cohen & Steers Capital Management acquired 8.96 million shares of Netstreit Corp having value of about $137.83 million. Data submitted at the U.S SEC by Cohen & Steers Capital Management revealed that the firm now holds 7.9 million shares in the company valued at close to $147074836.72, or have control over 743.17% stake in the company. Netstreit Corp (NYSE: NTST) currently have 68.70M outstanding shares and institutions hold larger chunk of about 113.03% of that. Holding of mutual funds in the company is about 61.12% while other institutional holders and individual stake holders have control over 8.44% and 54.08% of the stake respectively.
The stock has a current market capitalization of $1.28B and its 3Y-monthly beta is at 0.98. PE ratio of stock for trailing 12 months is 149.08, while it has posted earnings per share of $0.12 in the same period. Its PEG reads 20.15 while making debt-to-equity ratio of 0.49. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for NTST, volatility over the week remained 2.27% while standing at 1.94% over the month.
Analysts are in expectations that Netstreit Corp (NTST) stock would likely to be making an EPS of $0.05 in the current quarter, while forecast for next quarter EPS is $0.05 and it is $0.23 for next year. For the current quarter EPS, analysts have given the company a lowest target $0.04 which is $0.06 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of $0.05 in the same quarter a year ago. Stock’s fiscal year EPS is expected to drop by -18.75% while it is estimated to increase by 80.77% in next year.
Analysts at 13 brokerage firms have issued recommendations for the Netstreit Corp (NTST)’s stock and average of those rates the stock at a “Moderate Buy” and assign it a score of 2.15. Out of those 13 Wall Street analysts, 6 recommended a “Buy” rating, while 3 were in favor recommending the stock as a “Hold” and 1 analyst recommended the stock as “Sell”.
Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by Wolfe Research on January 02, 2024 offering an Outperform rating for the stock and assigned a target price of $22 to it.
