NETSTREIT (NTST) AI Stock Analysis

• Market Cap: $2.23B
• Dividend Yield: 4.61%
• Average Volume (3M): 1.60M
• Price to Earnings (P/E): 211.4
• Beta (1Y): 0.31
• Revenue Growth: 19.92%
• EPS Growth: N/A
• Country: US
• Employees: 22
• Sector: Real Estate
• Sector Strength: 53
• Industry: REIT - Retail
• EPS (TTM): 0.02
• Shares Outstanding: 109,700,874
• 10 Day Avg. Volume: 1,035,983
• 30 Day Avg. Volume: 1,598,803
• PEG Ratio: -1.39
• Price to Book (P/B): 1.01
• Price to Sales (P/S): 8.04
• P/FCF Ratio: 13.33
• Enterprise Value/Market Cap: 1.24
• Enterprise Value/Revenue: 15.29
• Enterprise Value/Gross Profit: 16.99
• Enterprise Value/Ebitda: 19.72
• 1Y Price Target: $22.29
• Price Target Upside: 10.02% Upside
• Rating Consensus: Strong Buy
• Number of Analyst Covering: 8
• EPS Forecast (FY): 0.32
• Revenue Forecast (FY): $216.25M

• Rating: 69 Neutral
• Price Target: $23.00 ▲(13.52% Upside)
• Action: Reiterated Date: 03/03/26
• Date: Action: Reiterated 03/03/26

The score is driven primarily by solid financial performance (strong revenue and cash flow growth, improving balance-sheet flexibility) and a constructive earnings outlook (reaffirmed 2026 AFFO/share growth with strong liquidity and an investment-grade rating). Offsetting factors include an overextended technical setup (high RSI/Stoch) and weak valuation on P/E despite an attractive dividend yield, with dilution and tenant credit/coverage risks tempering upside.

Positive Factors

Cash Flow Generation

Sustained growth in operating and free cash flow over multiple years indicates high cash conversion from the portfolio. Durable cash generation supports dividends, funds acquisitions from internal cash, improves ability to service debt, and reduces dependence on volatile equity markets.

Investment‑grade Rating & Funding Costs

An inaugural BBB- rating materially improves access to capital and lowers borrowing costs over the long term. Lower interest expense and market access increase capital efficiency for acquisitions, enhancing the REIT's ability to grow portfolio yield and preserve liquidity through credit cycles.

Portfolio Quality & Lease Duration

Long weighted average lease term, near-complete occupancy and concentration in necessity/discount categories create predictable, sticky rental cash flows. This structural rent stability supports resilient revenue and reduces turnover-driven capital needs across economic cycles.

Negative Factors

Earnings Volatility

Material swings between GAAP losses and modest net income highlight variability below the operating line. Persistent earnings volatility can compress returns on equity, complicate long-term reinvestment decisions, and increase scrutiny from creditors despite healthy cash metrics.

Share Dilution & Capital‑Markets Reliance

Heavy use of forward sales, ATMs and public offerings creates recurring dilution risk to AFFO/share and relies on favorable market windows. Over time, dependence on equity markets for liquidity can erode per‑share economics and tie growth pacing to capital markets conditions.

Tenant Credit & Coverage Risks

A meaningful proportion of rent from non‑IG tenants and rising low-coverage leases increase default and collection risk. Over months, this could pressure cash flow volatility, force opportunistic dispositions at suboptimal yields, and necessitate higher provisioning or capital allocation to stabilize income.

NETSTREIT Business Overview & Revenue Model

Company Description

NETSTREIT is an internally managed Real Estate Investment Trust (REIT) based in Dallas, Texas that specializes in acquiring single-tenant net lease retail properties nationwide. The growing portfolio consists of high-quality properties leased to e-commerce resistant tenants with healthy balance sheets. Led by a management team of seasoned commercial real estate executives, NETSTREIT's strategy is to create the highest quality net lease retail portfolio in the country with the goal of generating consistent cash flows and dividends for its investors.

How the Company Makes Money

NETSTREIT generates revenue primarily through long-term leases with its tenants, who are responsible for the property’s operating expenses, including taxes, insurance, and maintenance. This net lease structure allows NETSTREIT to benefit from stable cash flows while minimizing operational costs. The company earns rental income from its portfolio of properties, which is further supplemented by periodic rent escalations built into lease agreements. Key partnerships with reputable tenants and strategic acquisitions of high-demand properties contribute to its earnings, enabling consistent dividend payouts to shareholders.

NETSTREIT Financial Statement Overview

Summary

Strong multi-year revenue and operating/free cash flow growth support a solid core profile, but GAAP earnings have been volatile (including a loss in 2024) and returns on equity have been inconsistent. Balance sheet risk looks improved (including low leverage commentary and strong liquidity), though profitability consistency remains the main limiter.

Income Statement

Revenue has grown steadily over the past several years (from ~$34M in 2020 to ~$195M in 2025), indicating solid portfolio expansion. Profitability, however, is uneven: net income was positive in most years but turned negative in 2024 and rebounded to a modest profit in 2025, suggesting earnings volatility and pressure below the operating line. Overall, the top-line trajectory is strong, but the inconsistency in bottom-line results keeps the score below the upper tier.

Balance Sheet

The balance sheet shows meaningful scale-up in assets and equity over time, which is supportive for a REIT. Leverage was moderate in 2021–2024 (debt running at roughly half to two-thirds of equity), but the 2025 data shows zero debt, which is a major improvement if accurate (and would materially reduce risk). The main offset is that returns on equity were low/negative in recent years (notably 2024), signaling that shareholder capital has not been producing strong accounting profits consistently.

Cash Flow

Operating cash flow and free cash flow have generally increased alongside the business (rising from ~$12.7M in 2020 to ~$109.5M in 2025). Free cash flow conversion appears very strong in multiple years where available (free cash flow roughly matching reported net income in 2022–2024), indicating cash generation quality. A key watch-out is variability in cash flow relative to earnings across years (coverage swings), but the overall cash generation trend is favorable.

Breakdown	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	181.38M	150.00M	123.12M	92.50M	58.35M
Gross Profit	163.17M	133.80M	108.10M	82.24M	53.34M
EBITDA	140.58M	98.24M	90.80M	67.32M	37.31M
Net Income	6.90M	-11.94M	6.84M	8.12M	3.05M
Balance Sheet
Total Assets	2.61B	2.26B	1.95B	1.61B	1.07B
Cash, Cash Equivalents and Short-Term Investments	14.47M	14.32M	29.93M	65.84M	7.60M
Total Debt	1.12B	894.28M	640.25M	529.79M	267.09M
Total Liabilities	1.16B	921.21M	672.80M	547.27M	278.63M
Stockholders Equity	1.45B	1.33B	1.26B	1.05B	779.17M
Cash Flow
Free Cash Flow	109.46M	90.16M	80.12M	49.44M	30.75M
Operating Cash Flow	109.51M	90.16M	80.16M	50.65M	31.48M
Investing Cash Flow	-448.84M	-432.88M	-451.95M	-468.36M	-430.13M
Financing Cash Flow	339.48M	327.10M	331.18M	480.65M	313.61M

NETSTREIT Technical Analysis

• Technical Analysis Sentiment: Neutral
• Last Price: 20.26
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For NTST, the sentiment is Neutral. The current price of 20.26 is below the 20-day moving average (MA) of 20.54, above the 50-day MA of 19.23, and above the 200-day MA of 18.01, indicating a neutral trend. The MACD of 0.34 indicates Positive momentum. The RSI at 52.57 is Neutral, neither overbought nor oversold. The STOCH value of 12.18 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for NTST.

NETSTREIT Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
FCPT	75 Outperform	$2.81B	21.07	7.40%	6.10%	8.28%	1.49%
GTY	74 Outperform	$1.98B	19.46	7.86%	6.77%	8.17%	9.96%
WSR	71 Outperform	$1.68B	7.70	11.37%	3.97%	4.44%	107.23%
NTST	69 Neutral	$2.23B	211.40	0.51%	4.61%	19.92%	―
Sector *	65 Neutral	$2.17B	12.19	3.79%	4.94%	3.15%	1.96%
PINE	65 Neutral	$278.23M	-90.17	-1.09%	7.01%	14.81%	-245.25%
CBL	57 Neutral	$1.14B	5.68	41.49%	6.79%	5.74%	294.33%

NETSTREIT Corporate Events

NETSTREIT Highlights Strong Portfolio, Liquidity in Investor Update

On March 2, 2026, NETSTREIT Corp. released an investor presentation highlighting the strength of its retail net lease portfolio, which was 99.9% occupied at year-end 2025 with a weighted average lease term of 10.1 years and 87% of rent coming from necessity, discount, and service tenants. The materials underscored low historical credit losses, resilient performance through the Big Lots bankruptcy, and a well-capitalized balance sheet with significant forward equity and liquidity that support continued investment activity and reinforce the REIT’s positioning as a conservative, credit-focused net lease platform.

Management also pointed to a robust acquisition track record, including $657 million of gross investments completed in 2025 at a 7.5% weighted average cash yield and an average of $108 million in net investments per quarter since 2020. With low leverage, no near-term debt maturities, and de minimis lease expirations in core categories such as pharmacies and dollar stores through 2028, the company signaled ongoing capacity to grow its portfolio while maintaining conservative risk metrics for shareholders and creditors.

The most recent analyst rating on (NTST) stock is a Buy with a $22.00 price target. To see the full list of analyst forecasts on NETSTREIT stock, see the NTST Stock Forecast page.

NETSTREIT Completes Public Equity Offering With Forward Sale

On February 13, 2026, NETSTREIT Corp. completed a public offering of 12,627,000 shares of its common stock at $19.00 per share, including 1,647,000 shares issued under a fully exercised 30-day underwriters’ option on February 12, 2026. The shares were sold through an underwriting syndicate led by Wells Fargo and Bank of America and were issued pursuant to an effective shelf registration statement and accompanying prospectus supplement.

In connection with the offering, NETSTREIT entered into forward sale agreements with Wells Fargo and Bank of America, under which the forward purchasers or their affiliates borrowed and sold the 12,627,000 shares to the underwriters. NETSTREIT will not initially receive proceeds from this transaction and expects to physically settle the forward sale agreements and receive proceeds by no later than February 11, 2027, though it retains the flexibility to cash or net share settle, which could reduce or eliminate cash proceeds or even result in a cash obligation to the counterparties depending on market conditions.

The most recent analyst rating on (NTST) stock is a Hold with a $21.00 price target. To see the full list of analyst forecasts on NETSTREIT stock, see the NTST Stock Forecast page.

NETSTREIT Reports Strong Q4 Results, Raises Dividend, Reaffirms Guidance

NETSTREIT Corp. reported fourth-quarter and full-year 2025 results on February 10, 2026, posting net income of $0.02 per diluted share and adjusted funds from operations of $0.33 per share for the quarter, with full-year AFFO rising 4.0% to $1.31 per share. The company completed a record $245.4 million of gross investment activity at a 7.5% blended cash yield in the fourth quarter, supported by $435.6 million of net investment for 2025 and a portfolio characterized by long lease terms and a significant portion of rent from investment-grade tenants.

Management reaffirmed 2026 AFFO per share guidance of $1.35 to $1.39 and increased the quarterly dividend by 2.3% to $0.22 per share, signaling confidence in cash flow growth and balance sheet strength. NETSTREIT also highlighted $46.4 million of forward equity sales completed in January 2026 and its December 2025 achievement of an investment-grade BBB- rating from Fitch, moves that enhance financial flexibility and may lower its cost of capital while supporting ongoing acquisitions and development spending.

The most recent analyst rating on (NTST) stock is a Buy with a $21.00 price target. To see the full list of analyst forecasts on NETSTREIT stock, see the NTST Stock Forecast page.

NETSTREIT Announces 2025 Dividend Tax Characterization Details

On January 27, 2026, NETSTREIT Corp. reported the 2025 U.S. federal income tax characterization of its quarterly common stock distributions, specifying for each March 31, June 16, September 15, and December 15, 2025 payment the breakdown between ordinary dividends and non-dividend (return of capital) components. For all four 2025 distributions, between approximately $0.2100 and $0.2150 per share, about 86.38% was treated as ordinary dividend income and 13.62% as non-dividend distributions, with no amounts classified as capital gains, and all ordinary dividends qualifying as Section 199A dividends, providing shareholders and tax preparers with detailed guidance on how these payments should be reported for tax purposes.

The most recent analyst rating on (NTST) stock is a Buy with a $21.00 price target. To see the full list of analyst forecasts on NETSTREIT stock, see the NTST Stock Forecast page.

NETSTREIT Earns First Investment-Grade Rating from Fitch

On December 30, 2025, NETSTREIT Corp. announced that Fitch Ratings assigned the company a BBB- issuer rating with a stable outlook, reflecting the REIT’s solid property portfolio and resilient operating performance, including pandemic-era occupancy levels above 99%. Fitch highlighted NETSTREIT’s strong unit-level rent coverage, limited credit losses versus peers, well-staggered debt maturities and ample liquidity, while management pointed to the inaugural investment-grade rating as validation of its conservative balance sheet and low leverage since its IPO over five years ago, positioning the company to reduce interest expense on its revolving credit and term loan facilities and to access debt markets more efficiently.

The most recent analyst rating on (NTST) stock is a Buy with a $19.00 price target. To see the full list of analyst forecasts on NETSTREIT stock, see the NTST Stock Forecast page.

NETSTREIT Highlights Strong Occupancy and Financial Stability

On December 8, 2025, NETSTREIT Corp. released an investor presentation highlighting its strategic focus on maintaining a high-occupancy portfolio with resilient tenants. The company reported a 99.9% occupancy rate and emphasized its strong investment pipeline and financial stability, with a significant portion of its portfolio consisting of investment-grade tenants. NETSTREIT’s strategic approach has resulted in minimal credit losses, even amid challenging economic conditions, positioning it favorably in the retail real estate market.

The most recent analyst rating on (NTST) stock is a Hold with a $18.50 price target. To see the full list of analyst forecasts on NETSTREIT stock, see the NTST Stock Forecast page.