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

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

Other institutional investors and hedge funds also recently modified their holdings of the company. Quarry LP acquired a new position in NETSTREIT during the 2nd quarter worth approximately $45,000. Point72 DIFC Ltd bought a new stake in shares of NETSTREIT in the second quarter worth $83,000. Custom Index Systems LLC acquired a new position in NETSTREIT during the third quarter worth $170,000. M&G PLC bought a new position in NETSTREIT in the third quarter valued at $173,000. Finally, Van ECK Associates Corp increased its stake in NETSTREIT by 13.7% in the 2nd quarter. Van ECK Associates Corp now owns 11,280 shares of the company’s stock valued at $182,000 after buying an additional 1,359 shares during the last quarter.

NETSTREIT Trading Up 1.8 %

NTST stock opened at $16.14 on Monday. NETSTREIT Corp. has a one year low of $14.92 and a one year high of $18.97. The stock has a market cap of $1.32 billion, a price-to-earnings ratio of -268.96 and a beta of 0.97. The company has a fifty day moving average price of $16.23 and a two-hundred day moving average price of $16.60. The company has a debt-to-equity ratio of 0.57, a current ratio of 4.11 and a quick ratio of 4.08.

NETSTREIT (NYSE:NTST) last announced its quarterly earnings results on Monday, November 4th. The company reported ($0.07) EPS for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.37). The company 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 quarter last year, the company posted $0.31 EPS. Equities analysts anticipate that NETSTREIT Corp. will post 1.19 EPS for the current year.

NETSTREIT Announces Dividend

The company also recently declared 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 is Monday, December 2nd. This represents a $0.84 annualized dividend and a yield of 5.20%. NETSTREIT’s dividend payout ratio (DPR) is presently -1,399.77%.

Analyst Ratings Changes

A number of equities analysts have recently commented on NTST shares. Raymond James upgraded shares of NETSTREIT from an “outperform” rating to a “strong-buy” rating and reduced their price objective for the stock from $20.00 to $19.00 in a research note on Wednesday, August 21st. Wedbush initiated coverage on NETSTREIT in a research note on Monday, August 19th. They issued a “neutral” rating and a $17.00 price target for the company. Scotiabank lowered their price target on NETSTREIT from $18.00 to $16.00 and set a “sector perform” rating on the stock in a research report on Wednesday, August 7th. UBS Group began coverage on NETSTREIT in a report on Monday, October 14th. They issued a “buy” rating and a $19.00 price objective for the company. 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. Four investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $18.11.

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.