Tiger Brokers

BUZZ-Netstreit drops after stock offering launch

Reuters
Yesterday
BUZZ-Netstreit drops after stock offering launch

** Shares of Netstreit Corp NTST.N down 1.4% in extended trading to $18.99 after planned equity raise news

** Dallas, Texas-based retail real estate investment trust commences 8.75 mln share offering with forward sale component

** It expects to enter into 1-yr forward sale agreements with bookrunners Wells Fargo and BofA

** Upon settlements of agreements, it intends to use net proceeds for general purposes, including debt repayment, funding of acquisitions of properties and development activities in its pipeline

** Co has ~97 mln shares outstanding

** NTST shares on Weds finished down 0.1% at $19.26. Stock up 9% YTD and up ~35% over the past 12 months

** 15 of 18 analysts rate the stock "strong buy" or "buy", 3 "hold"; median PT $21, per LSEG

(Lance Tupper is a Reuters market analyst. The views expressed are his own)

((lance.tupper@tr.com 1-646-279-6380))

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Most Discussed

  1. 1
     
     
     
     
  2. 2
     
     
     
     
  3. 3
     
     
     
     
  4. 4
     
     
     
     
  5. 5
     
     
     
     
  6. 6
     
     
     
     
  7. 7
     
     
     
     
  8. 8
     
     
     
     
  9. 9
     
     
     
     
  10. 10