U.S. stock futures slip lower; Cook’s firing increases Fed independence worries
Mark Manheimer, President, CEO, and Secretary of NETSTREIT Corp. (NYSE:NTST), recently made several purchases of the company’s common stock. According to the latest SEC filings, Manheimer acquired a total of 6,384 shares on March 10, with the transaction values ranging from $15.26 to $15.37 per share. The total value of these transactions amounted to $97,869. The purchase price represents a slight premium to the current trading price of $14.92, suggesting the CEO’s confidence in the company’s value proposition.
Following these acquisitions, Manheimer’s direct ownership increased to 304,572 shares. This series of transactions reflects a continued commitment to the company by its top executive. NETSTREIT Corp. is a real estate investment trust (REIT) headquartered in Dallas, Texas, specializing in single-tenant commercial properties. The company, with a market capitalization of $1.22 billion, offers an attractive dividend yield of 5.63% and has demonstrated strong revenue growth of 23.41% over the last twelve months. According to InvestingPro analysis, NETSTREIT shows promising fundamentals with a healthy current ratio of 5.91, and analysts expect positive net income growth this year.
In other recent news, Netstreit Corp reported its fourth-quarter 2024 financial results, revealing a mixed performance. The company reported a net loss of $5.4 million, with earnings per share (EPS) of -$0.07, falling short of the anticipated $0.05. However, Netstreit exceeded revenue expectations, bringing in $44.1 million against a forecast of $40.94 million. The company also recorded a 3.3% increase in annual AFFO per share for 2024 compared to the previous year.
Netstreit completed $195 million in gross investments, marking its highest quarter on record. Analyst firms like Scotiabank (TSX:BNS) showed interest in the company’s strategic investment approach, particularly in sale-leaseback transactions. Despite the EPS miss, investor confidence seemed bolstered by strong revenue performance and strategic investments, as indicated by a 3.44% rise in the stock price post-earnings announcement.
Looking ahead, Netstreit has provided AFFO per share guidance for 2025, estimating it to be between $1.27 and $1.30. The company plans to engage in net investment activity ranging from $75 million to $125 million and expects cash G&A expenses to be between $14.5 million and $15.5 million.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.