NTST
NETSTREIT Corp.17.22
-0.27-1.54%
Dec 16, 4:00:02 PM EST
Earnings Call Transcripts
This Quarter (Q1 '26)
No earnings call transcript available yet
Last Quarter (Q4 '25)
FY Q4 '25
Non-IG tenants yield edge
Q&A highlighted a strategic lean into non-investment-grade tenants for better risk-adjusted returns through master leases, stronger escalations, and unit-level strength, with Academy Sports cited as near-IG caliber. Management voiced high confidence in topping 2026's $350M-$450M investment and $1.35-$1.39 AFFO guides, boosted by far fewer dispositions after completing diversification. No equity urgency at 3.8x leverage; competition stays light, cap rates sticky near 7.5%. They monitor sub-1x coverage tranche closely but see no red flags. Fewer sales ahead.
Key Stats
Market Cap
1.66BP/E (TTM)
-Basic EPS (TTM)
0.00Dividend Yield
0.05%Recent Filings
8-K
NETSTREIT investor update
NETSTREIT released its March 2026 investor presentation, spotlighting a high-quality net lease portfolio with 99.9% occupancy, 58% investment-grade tenants, and 3.8x unit-level rent coverage as of December 31, 2025. Balance sheet shines with $1.3B pro forma liquidity and low 2.5x adjusted net debt to EBITDAre leverage. Credit loss stays minimal at 3bps annually.
8-K
Completed 12.6M-share ATM offering
NETSTREIT Corp. completed a public offering of 12,627,000 common shares at $19.00 per share on February 13, 2026, including the full exercise of the underwriters' 1,647,000-share option. Forward sale agreements with Wells Fargo and Bank of America mean no initial proceeds; settlement by February 11, 2027, could yield cash or shares—or cost cash if cash-settled adversely. Equity firepower deferred.
10-K
FY2025 results
NETSTREIT grew ABR to $198.3 million in FY2025 ended December 31, 2025, with 99.9% occupancy and 10.1-year WALT across 761 properties in 45 states. Acquired 140 properties for $603.0 million (13.9-year WALT) while selling 78 for $169.1 million (net gain $7.7 million), driving rental revenue up 20.8% y/y to $182.1 million; Q4 momentum sustained via $200 million 2031 Term Loan and $100 million 2032 Term Loan funding. Net income flipped to $6.9 million from prior loss, yet interest expense doubled to $51.3 million on $1.1 billion debt. Portfolio stays defensive: 87% necessity/service/discount retail. Tenant defaults threaten cash flows.
8-K
Q4 AFFO beats; record investments.
NETSTREIT posted Q4 AFFO of $0.33 per share, up 3.1% year-over-year, fueled by record $245.4M investments at 7.5% cash yield. Yet net income swung to $0.02 per share from a loss. Reaffirms 2026 AFFO guidance of $1.35-$1.39; hikes dividend 2.3% to $0.22. Balance sheet shines: pro forma leverage at 3.8x.
8-K
2025 dividend tax details
NETSTREIT Corp. disclosed 2025 common stock distribution tax treatment on January 27, 2026. Quarterly payouts totaled $0.2100 for March/June and $0.2150 for September/December, with 86.4% ordinary dividends and 13.6% non-dividend distributions—no capital gains. Tax planning clarified. Distributions mix return of capital.
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