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NetSTREIT Priced, NYSE: NTST

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

Industry: Real Estate

Latest Trade: $21.31 +0.31 (+1.5%)

First Day Return: -1.4%

Return from IPO: +16.7%

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 News for NetSTREIT
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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 $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
Underwriters
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Company Data
Headquarters Dallas, TX
Founded 2019
Employees 15
Website www.NETSTREIT.com