Principal Financial Group Inc. Has $67.92 Million Holdings in NETSTREIT Corp. (NYSE:NTST)

Principal Financial Group Inc. lifted its stake in shares of NETSTREIT Corp. (NYSE:NTST) by 46.4% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 4,800,208 shares of the company’s stock after buying an additional 1,521,668 shares during the quarter. Principal Financial Group Inc. owned about 5.88% of NETSTREIT worth $67,924,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently modified their holdings of the stock. Sumitomo Mitsui Trust Group Inc. raised its stake in NETSTREIT by 1,931.7% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,615,264 shares of the company’s stock worth $26,700,000 after buying an additional 1,535,761 shares during the period. Tributary Capital Management LLC bought a new stake in shares of NETSTREIT during the fourth quarter valued at approximately $12,633,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of NETSTREIT by 765.7% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 635,707 shares of the company’s stock worth $10,508,000 after purchasing an additional 562,273 shares during the period. Nordea Investment Management AB bought a new position in shares of NETSTREIT in the 4th quarter worth $6,714,000. Finally, JPMorgan Chase & Co. grew its position in NETSTREIT by 173.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 569,527 shares of the company’s stock valued at $9,414,000 after purchasing an additional 361,577 shares during the period.

Wall Street Analyst Weigh In

Several research firms have weighed in on NTST. Capital One Financial initiated coverage on shares of NETSTREIT in a report on Wednesday, February 12th. They set an “overweight” rating on the stock. Truist Financial dropped their price target on shares of NETSTREIT from $20.00 to $19.00 and set a “buy” rating on the stock in a research report on Thursday, December 5th. Scotiabank raised NETSTREIT from a “sector perform” rating to a “sector outperform” rating and boosted their price objective for the stock from $16.00 to $18.00 in a report on Monday, November 11th. Stifel Nicolaus dropped their target price on NETSTREIT from $19.50 to $19.25 and set a “buy” rating on the stock in a report on Tuesday, November 5th. Finally, Raymond James decreased their price target on NETSTREIT from $19.00 to $17.00 and set a “strong-buy” rating for the company in a report on Friday, January 17th. One investment analyst has rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $17.75.

NETSTREIT Stock Performance

Shares of NETSTREIT stock opened at $14.06 on Thursday. The business’s fifty day simple moving average is $14.24 and its 200 day simple moving average is $15.47. The company has a current ratio of 4.11, a quick ratio of 4.11 and a debt-to-equity ratio of 0.57. NETSTREIT Corp. has a 12 month low of $13.42 and a 12 month high of $18.97. The firm has a market capitalization of $1.15 billion, a P/E ratio of -234.21 and a beta of 1.00.

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.