Principal Real Estate Investors and Principal Global report 7.76M NTST shares (9.5%)

Rhea-AI Filing Summary

NetSTREIT Corp. disclosures show two Principal entities jointly reporting significant holdings in the company. Principal Real Estate Investors, LLC reports beneficial ownership of 7,570,447 shares, representing 9.3% of the class, while Principal Global Investors reports 189,714 shares (0.2%). Together they report an aggregate beneficial ownership of 7,760,161 shares, or 9.5% of the class.

The filings state both entities have shared voting and dispositive power over their respective holdings and no sole voting or dispositive power. The signatory certifies the securities are held in the ordinary course of business and not for the purpose of changing or influencing control. A joint filing agreement is included as an exhibit.

Positive

• Principal Real Estate Investors, LLC beneficially owns 7,570,447 shares (reported as 9.3% of the class)
• Principal Global Investors beneficially owns 189,714 shares (reported as 0.2% of the class)
• Combined reported beneficial ownership by the two filers is 7,760,161 shares (reported as 9.5%)
• The filing includes a joint filing agreement as an exhibit, clarifying the relationship between the reporting entities

Negative

• No sole voting power is reported for either entity (both show 0 sole voting and dispositive power), indicating no unilateral control
• The signatory certifies the securities are not held to change or influence control, limiting implications of activist intent

Insights

Financial Analyst

TL;DR: Two Principal entities together hold 9.5% of NTST, with voting power held jointly rather than solely.

The Schedule 13G/A reports institutional positions: 7,570,447 shares (9.3%) by Principal Real Estate Investors, LLC and 189,714 shares (0.2%) by Principal Global Investors, totaling 7,760,161 shares (9.5%). Ownership is reported as shared voting and dispositive power with no sole voting or dispositive authority, indicating centralized record-keeping or pooled management rather than unilateral control. The filing also contains a certification that the holdings are in the ordinary course of business and not intended to influence control.

Corporate Governance Expert

TL;DR: The disclosure signals meaningful institutional exposure but explicitly denies an intent to alter issuer control.

The filing documents that the Principal entities are joint filers and provides breakdowns of shared voting and dispositive power. The absence of sole voting power and the certification language are important governance facts: they limit the implication of an activist or control-seeking position in this filing. The joint filing agreement as an exhibit formalizes the reporting relationship between the entities.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 2)

NETSTREIT Corp.

(Name of Issuer)

Common Stock, $0.01 par value per share

(Title of Class of Securities)

64119V303

(CUSIP Number)

06/30/2025

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

Rule 13d-1(b)

Rule 13d-1(c)

Rule 13d-1(d)

SCHEDULE 13G

CUSIP No. 64119V303

1

Names of Reporting Persons

PRINCIPAL REAL ESTATE INVESTORS, LLC

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 7,570,447.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 7,570,447.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

7,570,447.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

9.3 %

12

Type of Reporting Person (See Instructions)

IA

SCHEDULE 13G

CUSIP No. 64119V303

1

Names of Reporting Persons

PRINCIPAL GLOBAL INVESTORS

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 189,714.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 189,714.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

189,714.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

0.2 %

12

Type of Reporting Person (See Instructions)

IA

SCHEDULE 13G

Item 1.
(a)	Name of issuer: NETSTREIT Corp.
(b)	Address of issuer's principal executive offices: 2021 MCKINNEY AVENUE, SUITE 1150, DALLAS, TEXAS 75201
Item 2.
(a)	Name of person filing: PRINCIPAL REAL ESTATE INVESTORS, LLC PRINCIPAL GLOBAL INVESTORS
(b)	Address or principal business office or, if none, residence: PRINCIPAL REAL ESTATE INVESTORS, LLC 711 HIGH STREET DES MOINES, Iowa 50392-0300 PRINCIPAL GLOBAL INVESTORS 711 HIGH STREET DES MOINES, Iowa 50392-0300
(c)	Citizenship: PRINCIPAL REAL ESTATE INVESTORS, LLC - DELAWARE PRINCIPAL GLOBAL INVESTORS - DELAWARE
(d)	Title of class of securities: Common Stock, $0.01 par value per share
(e)	CUSIP No.: 64119V303
Item 3.	If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)	Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)	Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)	Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)	Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)	An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)	An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)	A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)	A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)	A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)	A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution:
(k)	Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.	Ownership
(a)	Amount beneficially owned: 7,760,161
(b)	Percent of class: 9.5 %
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: PRINCIPAL REAL ESTATE INVESTORS, LLC - 0 PRINCIPAL GLOBAL INVESTORS - 0
	(ii) Shared power to vote or to direct the vote: PRINCIPAL REAL ESTATE INVESTORS, LLC - 7,570,447 PRINCIPAL GLOBAL INVESTORS - 189,714
	(iii) Sole power to dispose or to direct the disposition of: PRINCIPAL REAL ESTATE INVESTORS, LLC - 0 PRINCIPAL GLOBAL INVESTORS - 0
	(iv) Shared power to dispose or to direct the disposition of: PRINCIPAL REAL ESTATE INVESTORS, LLC - 7,570,447 PRINCIPAL GLOBAL INVESTORS - 189,714
Item 5.	Ownership of 5 Percent or Less of a Class.
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	Not Applicable
Item 7.	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
	Not Applicable
Item 8.	Identification and Classification of Members of the Group.
	Not Applicable
Item 9.	Notice of Dissolution of Group.
	Not Applicable

Item 10.

Certifications:

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under ?? 240.14a-11.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

PRINCIPAL REAL ESTATE INVESTORS, LLC

Signature:	/s/ J. Markham Penrod
Name/Title:	Chief Compliance Officer - North America, Principal Asset Management
Date:	08/08/2025

PRINCIPAL GLOBAL INVESTORS

Signature:	/s/ J. Markham Penrod
Name/Title:	Chief Compliance Officer - North America, Principal Asset Management
Date:	08/08/2025

Exhibit Information

This statement is filed by Principal Real Estate Investors LLC and Principal Global Investors LLC jointly pursuant to a Joint Filing Agreement, which is filed with this Schedule 13G as Exhibit 99.1.

FAQ

How many NTST shares does Principal Real Estate Investors, LLC report owning?

The filing states Principal Real Estate Investors, LLC beneficially owns 7,570,447 shares, representing 9.3% of the class.

What is the combined ownership percentage reported by the Principal filers in NTST?

The two Principal entities report a combined beneficial ownership of 7,760,161 shares, equal to 9.5% of the class.

Do the Principal filers have sole voting or dispositive power over their NTST holdings?

No. The filing reports 0 shares with sole voting power and 0 shares with sole dispositive power for each reporting entity; powers are reported as shared.

Does the filing indicate the Principal entities intend to change control of NetSTREIT (NTST)?

The certification states the securities were acquired and are held in the ordinary course of business and were not acquired to change or influence control of the issuer.

Are the two Principal entities filing jointly for NTST?

Yes. The statement notes a joint filing by Principal Real Estate Investors, LLC and Principal Global Investors and references a joint filing agreement filed as an exhibit.