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NetSTREIT Priced, NYSE: NTST

Net lease REIT that manages single-tenant retail commercial properties.

Industry: Real Estate

First Day Return: -1.4%

Industry: Real Estate

We are an internally-managed real estate company that acquires, owns and manages a diversified portfolio of single-tenant, retail commercial real estate subject to long-term net leases with high credit quality tenants across the United States. Our growth and diversification strategy focuses on tenants in industries where a physical location is critical to the generation of sales and profits, with a focus on necessity goods and essential services in the retail sector, including discount stores, grocers, drug stores and pharmacies, home improvement, automotive service and quick-service restaurants, which we refer to as defensive retail industries. We believe these characteristics make our tenants' businesses e-commerce resistant and resilient through all economic cycles. The majority of our portfolio is comprised of properties leased to tenants operating in these defensive retail industries, with 88.5% of our ABR stemming from necessity, discount and/or service-oriented industries. We generally target properties with a purchase price between $1 million and $10 million, a segment of the market that we believe is undercapitalized and where we can maintain a consistent pipeline of relatively small assets to acquire on attractive terms without the threat of broad competition.
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IPO Data
IPO File Date 07/17/2020
Offer Price $18.00
Price Range $19.00 - $21.00
Offer Shares (mm) 12.5
Deal Size ($mm) $225
Lock-Up Date IPO Pro Only
Street Research IPO Pro Only
IPO Data
IPO Date 08/12/2020
Offer Price IPO Intelligence Only
Price Range IPO Intelligence Only
Offer Shares (mm) IPO Intelligence Only
Deal Size ($mm) $225
Lock-Up Date IPO Intelligence Only
Street Research IPO Intelligence Only
Underwriters
IPO Intelligence Only
Company Data
Headquarters Dallas, TX, United States
Founded 2019
Employees at IPO 15
Website www.NETSTREIT.com

NetSTREIT (NTST) Performance