Principal Financial Group Inc. Lowers Stake in NETSTREIT Corp. (NYSE:NTST)

Principal Financial Group Inc. lowered its holdings in NETSTREIT Corp. (NYSE:NTST - Free Report) by 6.3% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 3,278,540 shares of the company's stock after selling 220,514 shares during the period. Principal Financial Group Inc. owned approximately 4.24% of NETSTREIT worth $54,193,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the business. Quantbot Technologies LP grew its stake in shares of NETSTREIT by 88.6% in the first quarter. Quantbot Technologies LP now owns 55,789 shares of the company's stock worth $1,025,000 after acquiring an additional 26,206 shares in the last quarter. Swiss National Bank raised its position in NETSTREIT by 2.7% in the 1st quarter. Swiss National Bank now owns 135,600 shares of the company's stock valued at $2,491,000 after purchasing an additional 3,600 shares in the last quarter. Susquehanna Fundamental Investments LLC purchased a new position in shares of NETSTREIT in the 1st quarter valued at about $334,000. Russell Investments Group Ltd. boosted its stake in shares of NETSTREIT by 64.9% in the 1st quarter. Russell Investments Group Ltd. now owns 1,593,752 shares of the company's stock valued at $29,277,000 after buying an additional 627,514 shares during the period. Finally, ProShare Advisors LLC grew its position in shares of NETSTREIT by 8.5% during the first quarter. ProShare Advisors LLC now owns 12,434 shares of the company's stock worth $228,000 after buying an additional 977 shares in the last quarter.

NETSTREIT Stock Performance

NYSE:NTST traded down $0.04 during mid-day trading on Monday, reaching $16.10. The stock had a trading volume of 1,072,952 shares, compared to its average volume of 1,014,254. The company has a debt-to-equity ratio of 0.57, a quick ratio of 4.08 and a current ratio of 4.11. The business has a 50 day simple moving average of $16.21 and a 200 day simple moving average of $16.59. NETSTREIT Corp. has a twelve month low of $14.92 and a twelve month high of $18.97. The firm has a market capitalization of $1.31 billion, a price-to-earnings ratio of -268.29 and a beta of 0.97.

NETSTREIT (NYSE:NTST - Get Free Report) last issued its earnings results on Monday, November 4th. The company reported ($0.07) EPS for the quarter, missing the consensus estimate of $0.30 by ($0.37). NETSTREIT had a negative return on equity of 0.35% and a negative net margin of 2.96%. The company had revenue of $41.44 million for the quarter, compared to analysts' expectations of $41.10 million. During the same quarter in the previous year, the firm posted $0.31 earnings per share. On average, analysts expect that NETSTREIT Corp. will post 1.19 earnings per share for the current fiscal year.

NETSTREIT Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Monday, December 2nd will be paid a $0.21 dividend. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $0.84 dividend on an annualized basis and a yield of 5.22%. NETSTREIT's payout ratio is -1,399.77%.

Analyst Upgrades and Downgrades

NTST has been the subject of a number of recent research reports. Wedbush assumed coverage on shares of NETSTREIT in a research note on Monday, August 19th. They issued a "neutral" rating and a $17.00 price target for the company. Raymond James upgraded shares of NETSTREIT from an "outperform" rating to a "strong-buy" rating and decreased their price objective for the company from $20.00 to $19.00 in a research note on Wednesday, August 21st. UBS Group assumed coverage on shares of NETSTREIT in a research note on Monday, October 14th. They set a "buy" rating and a $19.00 price target for the company. Scotiabank upgraded shares of NETSTREIT from a "sector perform" rating to a "sector outperform" rating and lifted their price objective for the company from $16.00 to $18.00 in a research note on Monday. Finally, Stifel Nicolaus decreased their target price on shares of NETSTREIT from $19.50 to $19.25 and set a "buy" rating for the company in a research note on Tuesday, November 5th. Three analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $18.30.

NETSTREIT Profile

NETSTREIT Corp. is an internally managed real estate investment trust (REIT) based in Dallas, Texas that specializes in acquiring single-tenant net lease retail properties nationwide. The growing portfolio consists of high-quality properties leased to e-commerce resistant tenants with healthy balance sheets.