📈 Price History

Ratio Health

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By Category

📊 Sector Averages

About

NETSTREIT Corp. is an internally managed real estate investment trust based in Dallas, Texas that specializes in acquiring single-tenant net lease retail properties nationwide.

Key Ratios Snapshot

📈 Growth Pattern

⚡ Latest Quarter —

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📊 Quick Scorecard

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⭐ Superinvestors Holding NTST

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Manager	Shares	Value	% of Fund	Period
Steve Cohen Point72 Asset Management	651.0K	$12.3M	0.02%	Mar 2026

SEC Form 13F data. 45-day lag from quarter end.

🔍 Concall Decoded

🎙 Management Tone Tracker Confident Specific → Stable 4 quarters analysed

Q2 2025

Confident Specific

Management repeatedly cited specific positive metrics such as record 7.8% cash yield, increased AFFO guidance by $0.01, and net investment guide raised by $50M. They highlighted enhanced disclosure showing de minimis credit losses and improved portfolio coverage, projecting a clear upward trajectory.

Q3 2025

Confident Specific

Record quarterly investment activity, increased guidance, and strong specific numbers (e.g., $203.9M investments, 7.4% yield). Management emphasized 'most attractive opportunity set since going public' and maintained a forward-looking positive stance.

Q4 2025

Confident Specific

Management repeatedly used superlatives like 'record', 'outstanding', 'excellent condition', and provided precise figures (e.g., $657.1 million gross investments, 7.5% yield, 3.8x leverage). Tone was forward-looking and assured, with no defensive or cautious language.

Q1 2026 latest

Confident Specific

Management used explicit positive language such as 'outstanding execution', 'record 2025 into the new year', 'strong momentum', 'very attractively priced opportunities', and 'increasing guidance'. They highlighted a robust pipeline, successful capital raising, and increased net investment activity guidance without hedging or cautionary notes.

Guidance Reliability Pending · <3Q data

Investor Lens

The investment thesis is stronger after this call. Management demonstrated sustained execution with a near-record Q1 investment volume, increased full-year guidance, and a fully pre-funded equity position, which de-risks the growth outlook. The high occupancy (now 100%) and healthy rent coverage support a low credit loss profile. The increased guidance on AFFO per share reflects confidence in achieving attractive spreads. Key watch items: continued acquisition pace in the back half of the year, the ability to maintain pricing spreads (~190 bps) in a volatile rate environment, and the eventual settlement of forward equity which will impact diluted share count. The conservative leverage (3.2x) provides buffer but limits near-term leverage-driven growth.

AI-generated concall tone analysis · Updated 2026-06-09 · Not investment advice

🎙 Management Tone Confident Specific → Stable 4 quarters Full tone analysis in Intelligence →

📊 MIXED NETSTREIT Q1 2026: $239M investment at 7.5% yield, raises full-year guidance to $550-$650M

Revenue & Profitability

Net income was $5.7 million ($0.06 per diluted share). Core FFO was $32 million ($0.32 per diluted share). AFFO was $33.2 million ($0.34 per diluted share), a 6.3% increase year-over-year. Total recurring G&A was $5.8 million, representing 10% of total revenues versus 11% in the prior year quarter. Adjusted net debt to annualized adjusted EBITDAre stood at 3.2 times.

Outlook

Management sees a fragmented market with attractive opportunities, driven by smaller operators seeking sale-leaseback capital as cheap debt from 2021 matures. Pricing is expected to remain relatively stable (7.5% yield, plus or minus 10 bps). While new participants have entered the net lease space, competition has not significantly impacted NETSTREIT's deal flow. Geopolitical risks and potential interest rate changes are noted but not expected to materially alter the near-term opportunity set.

Growth Drivers

Growth is primarily driven by acquisitions at attractive yields. In Q1 2026, NETSTREIT closed $239 million of gross investments at a blended cash yield of 7.5% with a 14.1-year weighted average lease term. Key sectors include grocery, convenience stores, quick service restaurants, auto service, and other essential retail. The company raised its full-year 2026 net investment activity guidance to $550-$650 million, reflecting strong pipeline momentum.

Balance Sheet & CapEx

Not discussed in terms of traditional CapEx. Investment activity: Q1 gross investments of $239 million and dispositions at a 6.6% cash yield. Full-year net investment activity guidance increased to $550-$650 million. Development projects remain a small portion (around 10% of activity) with only a 25 bps yield pickup, and management does not plan to increase development exposure significantly at current pricing.

Margins

G&A efficiency is improving: total recurring G&A of $5.8 million represented 10% of total revenues, down from 11% in the prior year quarter. AFFO per share growth guidance for 2026 is 5.3% at the high end (range $1.36-$1.39). Bad debt expense is assumed at approximately 50 basis points at the midpoint of guidance.

Key Risks

Management flagged geopolitical volatility and macroeconomic uncertainty as factors that could affect investment pace. Interest rate declines could compress cap rates, but a corresponding drop in debt costs would offset. Tenant credit risk is monitored through a small watchlist (three assets with unit-level coverage below 1x, three or four with implied ratings of CCC+). Dispositions are used to proactively mitigate concentration and credit risks. Bad debt assumption of 50 bps is embedded in guidance.

Generated by AI · Q1 2026 results · Not investment advice

✓ 📞 Earnings Call Transcripts (5 quarters) submit a missing quarter

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📞 Earnings Call Transcripts (5)

Q2 2026 Q2 2026 2026-07-23

Q2 saw strong portfolio growth, $298.9M in investments, and 100% occupancy, with AFFO up 6.1% year-over-year. Guidance for 2026 was raised, leverage remains low, and liquidity is robust. Portfolio diversification and disciplined capital allocation position the company for continued growth.

Q1 2026 Q1 2026 2026-04-21

Q1 2026 saw strong investment activity, portfolio growth, and robust financial results, with AFFO per share up 6.3% year-over-year and guidance raised for both investment activity and AFFO. Conservative leverage and ample liquidity position the company for continued growth.

Q4 2025 Q4 2025 2026-02-11

Record investment activity and portfolio diversification drove AFFO per share to the high end of guidance, with a 2.3% dividend increase and strong liquidity. 2026 outlook calls for 5% AFFO growth, stable cap rates, and continued focus on necessity retail and risk mitigation.

Q3 2025 Q3 2025 2025-10-28

Record Q3 investment activity and improved cost of capital led to a significant increase in 2025 net investment guidance. Portfolio diversification advanced, liquidity remains strong, and AFFO per share guidance was reiterated, with robust acquisition opportunities expected to continue.

Q2 2025 Q2 2025 2025-07-24

Q2 saw record investment yields, increased AFFO and investment guidance, and strong portfolio health with 68.7% of ABR from investment grade tenants. Liquidity and leverage remain solid, with dividend and guidance both raised for 2025.

📊 Analysis Methodology

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Investment Risk:
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