Principal Financial Group Inc. Grows Holdings in NETSTREIT Corp. $NTST

Principal Financial Group Inc. raised its stake in NETSTREIT Corp. (NYSE:NTST) by 11.9% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 8,958,073 shares of the company’s stock after buying an additional 955,951 shares during the period. Principal Financial Group Inc. owned about 10.72% of NETSTREIT worth $161,783,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Hudson Bay Capital Management LP raised its holdings in shares of NETSTREIT by 44.4% in the 2nd quarter. Hudson Bay Capital Management LP now owns 2,807,797 shares of the company’s stock valued at $47,536,000 after purchasing an additional 862,766 shares in the last quarter. Tributary Capital Management LLC increased its position in NETSTREIT by 92.6% during the 3rd quarter. Tributary Capital Management LLC now owns 1,559,924 shares of the company’s stock valued at $28,172,000 after buying an additional 749,811 shares in the last quarter. Adage Capital Partners GP L.L.C. increased its position in NETSTREIT by 96.2% during the 2nd quarter. Adage Capital Partners GP L.L.C. now owns 1,162,949 shares of the company’s stock valued at $19,689,000 after buying an additional 570,094 shares in the last quarter. Marshall Wace LLP raised its stake in NETSTREIT by 268.3% in the second quarter. Marshall Wace LLP now owns 696,195 shares of the company’s stock valued at $11,787,000 after buying an additional 507,174 shares during the last quarter. Finally, Lasalle Investment Management Securities LLC boosted its holdings in NETSTREIT by 13.8% in the second quarter. Lasalle Investment Management Securities LLC now owns 3,836,565 shares of the company’s stock worth $64,953,000 after acquiring an additional 464,980 shares in the last quarter.

NETSTREIT Trading Up 0.8%

NETSTREIT stock opened at $18.81 on Monday. NETSTREIT Corp. has a 12 month low of $13.74 and a 12 month high of $19.64. The company has a current ratio of 3.85, a quick ratio of 3.85 and a debt-to-equity ratio of 0.84. The stock’s 50 day simple moving average is $17.81 and its two-hundred day simple moving average is $18.19. The firm has a market cap of $1.57 billion, a PE ratio of -1,881,000.00, a P/E/G ratio of 3.81 and a beta of 0.88.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the stock. Stifel Nicolaus upped their price objective on shares of NETSTREIT from $20.00 to $21.00 and gave the company a “buy” rating in a report on Tuesday, October 28th. Robert W. Baird upped their price target on shares of NETSTREIT from $20.00 to $21.00 and gave the company an “outperform” rating in a research note on Tuesday, October 28th. Mizuho lowered their price objective on shares of NETSTREIT from $20.00 to $19.00 and set an “outperform” rating for the company in a research note on Wednesday, December 17th. Cantor Fitzgerald reissued an “overweight” rating and issued a $20.00 target price on shares of NETSTREIT in a research report on Monday, January 5th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of NETSTREIT in a research report on Monday, December 29th. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $20.36.

NETSTREIT Profile

NetSTREIT Corp. is a real estate investment trust that specializes in the acquisition and management of single?tenant, net lease retail properties across the United States. The company targets assets leased to investment?grade or creditworthy tenants under long?term, triple?net leases, which generally shift property?level expenses—such as taxes, insurance and maintenance—to the tenant. This business model is designed to generate predictable, stable income streams and to limit landlord responsibilities.

NetSTREIT’s portfolio encompasses a diversified mix of essential retail and service properties, including quick?service restaurants, convenience stores, banks, automotive service centers and medical clinics.