Principal Financial Group Inc. Sells 220,514 Shares of NETSTREIT Corp. (NYSE:NTST)

Principal Financial Group Inc. trimmed its holdings in shares of NETSTREIT Corp. (NYSE:NTST) by 6.3% in the third quarter, according to its most recent filing with the SEC. The firm owned 3,278,540 shares of the company’s stock after selling 220,514 shares during the period. Principal Financial Group Inc. owned approximately 4.02% of NETSTREIT worth $54,193,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Sumitomo Mitsui Trust Group Inc. raised its position in NETSTREIT by 1,931.7% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,615,264 shares of the company’s stock worth $26,700,000 after purchasing an additional 1,535,761 shares in the last quarter. Vestcor Inc bought a new stake in shares of NETSTREIT in the 3rd quarter valued at approximately $913,000. Charles Schwab Investment Management Inc. raised its holdings in shares of NETSTREIT by 9.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,078,174 shares of the company’s stock worth $17,822,000 after buying an additional 95,433 shares in the last quarter. GSA Capital Partners LLP lifted its position in shares of NETSTREIT by 107.8% during the 3rd quarter. GSA Capital Partners LLP now owns 149,651 shares of the company’s stock worth $2,474,000 after buying an additional 77,647 shares during the period. Finally, Hohimer Wealth Management LLC acquired a new stake in NETSTREIT in the 3rd quarter valued at $166,000.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on NTST shares. Stifel Nicolaus dropped their price objective on NETSTREIT from $19.50 to $19.25 and set a “buy” rating for the company in a research note on Tuesday, November 5th. UBS Group initiated coverage on shares of NETSTREIT in a research 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 boosted their price target for the company from $16.00 to $18.00 in a research report on Monday, November 11th. Finally, Truist Financial dropped their price objective on shares of NETSTREIT from $20.00 to $19.00 and set a “buy” rating for the company in a report on Thursday, December 5th. Two analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, NETSTREIT currently has an average rating of “Moderate Buy” and a consensus price target of $19.03.

NETSTREIT Stock Performance

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

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

NETSTREIT Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, December 13th. Stockholders of record on Monday, December 2nd were given a dividend of $0.21 per share. 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 dividend payout ratio is -1,400.00%.

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.