NTST · NETSTREIT Corp.

NETSTREIT Corp. delivered a strong Q1 2026 performance, highlighted by net income of $5.7 million or $0.06 per diluted share, a 200% increase from $1.7 million or $0.02 per share in Q1 2025, driven by robust investment activity and rental revenue growth to $54.0 million from $42.6 million. AFFO rose 6.3% to $0.34 per diluted share, supported by $239 million in gross investments across 58 properties at a 7.5% blended cash yield, resulting in net investment activity of $211.1 million after dispositions and loan repayments. CEO Mark Manheimer noted the company's disciplined sourcing and underwriting enabled capitalizing on attractive acquisition opportunities while maintaining risk-adjusted return targets, bolstered by a strengthened balance sheet from $314.3 million in gross forward equity sales. Portfolio quality remains exceptional with 99.9% occupancy, 804 investments totaling 14.5 million square feet across 46 states, and 58.3% of ABR from investment grade and investment grade profile tenants with a 10.2-year weighted average lease term. Leverage metrics improved to 3.2x pro forma adjusted net debt to annualized adjusted EBITDAre, with total liquidity of $1.13 billion including unsettled forward equity. The company raised its full-year 2026 AFFO per share guidance midpoint by increasing the range to $1.36-$1.39, incorporating higher estimated dilution from forward equity, and boosted net investment guidance to $550-$650 million from prior $350-$450 million, signaling confidence in deployment opportunities. A quarterly dividend of $0.22 per share was declared for Q2, annualizing to $0.88, up $0.04 year-over-year. Subsequent events included additional ATM sales and a $50 million term loan draw.