NETSTREIT Corp. (NYSE:NTST) Stake Increased by Principal Financial Group Inc.

Principal Financial Group Inc. raised its stake in shares of NETSTREIT Corp. (NYSE:NTST - Free Report) by 61.3% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 7,741,808 shares of the company's stock after buying an additional 2,941,600 shares during the period. Principal Financial Group Inc. owned approximately 9.48% of NETSTREIT worth $122,708,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in NTST. Lazard Asset Management LLC acquired a new position in shares of NETSTREIT during the fourth quarter valued at approximately $41,000. PNC Financial Services Group Inc. boosted its stake in NETSTREIT by 861.1% during the 4th quarter. PNC Financial Services Group Inc. now owns 5,430 shares of the company's stock valued at $77,000 after purchasing an additional 4,865 shares in the last quarter. GAMMA Investing LLC increased its position in shares of NETSTREIT by 2,779.7% during the 1st quarter. GAMMA Investing LLC now owns 7,228 shares of the company's stock valued at $115,000 after purchasing an additional 6,977 shares during the period. Comerica Bank raised its stake in shares of NETSTREIT by 174.3% in the 4th quarter. Comerica Bank now owns 9,703 shares of the company's stock worth $137,000 after buying an additional 6,166 shares in the last quarter. Finally, Mariner LLC acquired a new stake in shares of NETSTREIT in the fourth quarter valued at $143,000.

NETSTREIT Trading Up 1.4%

NTST traded up $0.23 during trading on Friday, reaching $17.07. The company had a trading volume of 795,970 shares, compared to its average volume of 961,524. The firm's 50-day simple moving average is $16.22 and its 200 day simple moving average is $15.27. The company has a debt-to-equity ratio of 0.69, a quick ratio of 3.95 and a current ratio of 3.95. The company has a market cap of $1.39 billion, a price-to-earnings ratio of -113.79, a PEG ratio of 4.97 and a beta of 0.89. NETSTREIT Corp. has a 12-month low of $13.42 and a 12-month high of $17.53.

NETSTREIT Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Monday, June 2nd were given a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 4.92%. The ex-dividend date was Monday, June 2nd. NETSTREIT's dividend payout ratio (DPR) is currently -560.00%.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. Raymond James Financial reaffirmed a "strong-buy" rating on shares of NETSTREIT in a report on Friday, May 23rd. Mizuho lifted their price objective on shares of NETSTREIT from $15.00 to $17.00 and gave the stock an "outperform" rating in a research note on Thursday, April 3rd. Finally, Wells Fargo & Company assumed coverage on shares of NETSTREIT in a report on Monday, April 7th. They issued an "overweight" rating and a $18.00 target price on the stock. One research analyst has rated the stock with a hold rating, six have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Buy" and an average price target of $18.16.

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.