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NTST

NETSTREIT Corp.

NTST

NETSTREIT Corp. • NYSE
$18.33 ▲ 0.49% (+0.09)
Market Cap $1.53 B
52w High $19.64
52w Low $13.42
Dividend Yield 0.84%
P/E -229.12
Volume 402.23K
Outstanding Shares 83.58M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $48.308M ▲ $36.312M ▲ $618K ▼ 1.279% ▼ $0.01 ▼ $34.658M ▼
Q2-2025 $44.901M ▲ $26.981M ▲ $3.272M ▲ 7.287% ▲ $0.04 ▲ $36.432M ▲
Q1-2025 $42.573M ▲ $26.092M ▲ $1.691M ▲ 3.972% ▲ $0.021 ▲ $33.143M ▲
Q4-2024 $40.705M ▲ $24.805M ▲ $-5.396M ▼ -13.256% ▲ $-0.071 ▼ $24.173M ▲
Q3-2024 $37.818M $24.725M $-5.295M -14.001% $-0.068 $23.887M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $53.324M ▲ $2.468B ▲ $1.162B ▲ $1.299B ▼
Q2-2025 $19.74M ▲ $2.312B ▲ $988.169M ▲ $1.317B ▲
Q1-2025 $14.205M ▼ $2.285B ▲ $971.753M ▲ $1.306B ▼
Q4-2024 $14.32M ▼ $2.259B ▲ $921.214M ▲ $1.331B ▼
Q3-2024 $28.75M $2.185B $837.925M $1.34B

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $621K ▼ $0 ▼ $0 ▲ $0 ▼ $0 ▼ $0 ▼
Q2-2025 $3.306M ▲ $30.636M ▲ $-48.397M ▼ $23.296M ▼ $5.535M ▲ $29.951M ▲
Q1-2025 $1.7M ▲ $22.091M ▼ $-48.308M ▲ $26.102M ▼ $-115K ▲ $22.08M ▼
Q4-2024 $-5.396M ▼ $28.036M ▲ $-113.496M ▲ $71.03M ▼ $-14.43M ▼ $25.008M ▲
Q3-2024 $-5.295M $25.11M $-115.456M $105.37M $15.024M $17.8M

Five-Year Company Overview

Income Statement

Income Statement Revenue has grown steadily each year as the portfolio has expanded, and core operating performance looks healthier over time with improving rental margins. The business was modestly profitable for several years but slipped into a small net loss most recently, which could reflect higher interest costs, one‑off items, or growth-related expenses rather than a breakdown in the core model. Overall, the income statement shows a young REIT still scaling up: growing quickly, largely disciplined on costs, but not yet consistently converting that growth into bottom‑line earnings every year.

Balance Sheet

Balance Sheet The balance sheet has expanded significantly as the company has bought more properties, with both total assets and shareholder equity rising at a solid pace. Debt has also increased to fund growth, but equity still represents a substantial portion of the capital structure, suggesting a balanced—though gradually more leveraged—profile. Cash on hand is kept lean, which is typical for REITs, but it means the business depends on reliable access to financing markets and steady rental cash flows to remain flexible.

Cash Flow

Cash Flow Operating cash flow has climbed in line with portfolio growth and has remained positive throughout the period, a key strength for a REIT focused on steady rent collections. Free cash flow trends mirror operating cash flow, indicating that ongoing capital needs for this model are being funded comfortably from the business itself rather than relying purely on new financing. The pattern suggests a cash-generative platform that is increasingly able to support its operations and growth, though longer-term commitments like dividends and acquisitions still need to be watched relative to cash generation.

Competitive Edge

Competitive Edge NETSTREIT operates in a crowded net-lease retail REIT space but differentiates itself by concentrating on necessity-based, e‑commerce‑resistant tenants and by using a data-heavy underwriting process. Its portfolio is broad across tenants and industries, with high occupancy, which helps spread risk and smooth rental income. The firm’s focus on tenant quality, defensive retail categories, and disciplined acquisitions gives it a clear strategic identity, though it still competes against much larger, more established net-lease REITs with deeper relationships and lower funding costs. Sensitivity to interest rates and tenant health remains a structural industry risk.

Innovation and R&D

Innovation and R&D While it does not invest in traditional research and development, NETSTREIT has put meaningful effort into innovation around risk analysis and portfolio construction. Its proprietary credit scoring for unrated tenants, detailed real estate and demographic analysis, and emphasis on diversification act as its main “R&D engine.” The company is also leaning into ESG considerations and exploring ways to integrate sustainability into leases and tenant partnerships. These efforts are more about refining decision-making and risk management than about technology disruption, but they can still create an edge in selecting stronger properties and tenants.

Summary

NETSTREIT is a relatively young, fast-growing retail REIT that has built a portfolio aimed at resilience: necessity-focused tenants, high occupancy, and disciplined underwriting. Financially, it shows a clear growth story in revenue, assets, and cash flow, with generally improving operating performance but not yet a perfectly smooth profit track record, as seen in the recent small net loss. The balance sheet reflects active expansion funded by a mix of equity and rising debt, leaving the company exposed to interest rate and capital market conditions but still appearing reasonably balanced. The main opportunities lie in continued disciplined acquisitions, further tenant and sector diversification, and deeper use of data and ESG practices. Key risks include financing costs, tenant credit events, and competitive pressure from larger net-lease REITs. Overall, NETSTREIT looks like a scaling platform still moving from “build-out” toward more mature, consistently stable earnings.

NEWS

November 18, 2025 · 6:00 AM UTC

NETSTREIT Corp. Increases Full Year 2025 AFFO Guidance

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October 27, 2025 · 4:05 PM UTC

NETSTREIT Reports Third Quarter 2025 Financial and Operating Results

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October 1, 2025 · 4:05 PM UTC

NETSTREIT Corp. Announces Dates for Third Quarter 2025 Earnings Release and Conference Call

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September 26, 2025 · 6:55 AM UTC

NETSTREIT Corp. Announces $450.0 Million in Additional Financing Commitments and Amendments to Existing Credit Facilities

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