Principal Financial Group Inc. Has $54.19 Million Stock Holdings in NETSTREIT Corp. (NYSE:NTST)

Principal Financial Group Inc. reduced its stake in shares of NETSTREIT Corp. (NYSE:NTST) by 6.3% during the 3rd quarter, HoldingsChannel.com reports. 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.’s holdings in NETSTREIT were worth $54,193,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Quarry LP acquired a new stake in shares of NETSTREIT during the second quarter worth $45,000. Point72 DIFC Ltd bought a new position in NETSTREIT during the 2nd quarter worth about $83,000. Hohimer Wealth Management LLC acquired a new stake in shares of NETSTREIT in the 3rd quarter valued at about $166,000. M&G PLC bought a new stake in shares of NETSTREIT in the third quarter valued at about $173,000. Finally, Custom Index Systems LLC acquired a new position in shares of NETSTREIT during the third quarter worth about $170,000.

Wall Street Analyst Weigh In

NTST has been the topic of a number of recent research reports. Stifel Nicolaus dropped their target price on NETSTREIT from $19.50 to $19.25 and set a “buy” rating on the stock in a research report on Tuesday, November 5th. UBS Group initiated coverage on shares of NETSTREIT in a report on Monday, October 14th. They set a “buy” rating and a $19.00 target price for the company. Scotiabank upgraded shares of NETSTREIT from a “sector perform” rating to a “sector outperform” rating and lifted their price target for the company from $16.00 to $18.00 in a research note on Monday, November 11th. Finally, Truist Financial reduced their price objective on shares of NETSTREIT from $20.00 to $19.00 and set a “buy” rating for the company in a research note on Thursday, December 5th. Two equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $19.03.

NETSTREIT Trading Up 2.3 %

Shares of NYSE:NTST opened at $14.16 on Monday. NETSTREIT Corp. has a 52-week low of $13.80 and a 52-week high of $18.97. The company has a debt-to-equity ratio of 0.57, a quick ratio of 4.11 and a current ratio of 4.11. The company has a market capitalization of $1.16 billion, a P/E ratio of -235.96 and a beta of 0.97. The company has a 50-day simple moving average of $15.72 and a 200 day simple moving average of $16.22.

NETSTREIT (NYSE:NTST) last released its quarterly earnings data on Monday, November 4th. The company reported ($0.07) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.37). The business had revenue of $41.44 million during the quarter, compared to analyst estimates of $41.10 million. NETSTREIT had a negative net margin of 2.96% and a negative return on equity of 0.35%. During the same period in the previous year, the business earned $0.31 earnings per share. Sell-side analysts forecast that NETSTREIT Corp. will post 1.19 earnings per share for the current year.

NETSTREIT Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 13th. Stockholders of record on Monday, December 2nd were given a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 5.93%. The ex-dividend date of this dividend was Monday, December 2nd. NETSTREIT’s payout ratio is presently -1,400.00%.

NETSTREIT Company 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.