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NETSTREIT (NTST)
NYSE:NTST
Earnings Data
Report Date
Apr 23, 2026After Close (Confirmed)
Period Ending
2026 (Q1)Consensus EPS Forecast
0.07Last Year’s EPS
0.02Same Quarter Last Year
Strong Buy
Based on 9 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Positive
The call emphasized multiple positive operational and financial accomplishments — record quarterly and annual investment volumes at attractive blended yields (7.5%), an investment-grade Fitch rating (BBB-) that reduced borrowing costs, strong liquidity (~$1.0B) and conservative leverage (pro forma 3.8x), affirmed 2026 AFFO guidance (+~5% at midpoint), and continued portfolio diversification (fewer concentrations, 31 new tenants in 2025). Lowlights were generally manageable and operationally-focused: modest GAAP net income, only modest AFFO growth (3.1% Q / 4% FY), potential dilution from unsettled forward equity ($373M) and ATM sales, some increase in the sub‑1.0x coverage tranche and pockets of non-investment-grade exposure, and category risks tied to lower-income / discretionary consumers. Overall, positives — strong deal execution, liquidity and balance sheet improvements — outweigh the manageable risks called out by management.Company Guidance
Record Investment Activity
Completed $245.4M of gross investments in Q4 (highest quarter on record) and a record $657.1M for full-year 2025; blended cash yield on investments of 7.5% (quarter and full-year); weighted average lease term on Q4 acquisitions 15.0 years and 13.9 years for the full year.
Strong Portfolio Composition and Lease Metrics
Portfolio ended quarter with 758 properties leased to 129 tenants across 28 industries and 45 states; portfolio weighted average lease term remaining 10.1 years; only 2.4% of ABR expires through 2027; portfolio weighted average unit-level coverage 3.8x; cohort blended rent coverage for near-term expirations 5.1x; 58.3% of ABR leased to investment-grade or investment-grade profile tenants.
AFFO, FFO and Forward Guidance
Q4 AFFO was $28.2M or $0.33 per diluted share (+3.1% YoY for the quarter); full-year AFFO $1.31 per diluted share (+4% YoY). Management reaffirmed 2026 AFFO per share guidance of $1.35–$1.39 (implying ~5% YoY growth at the midpoint) and expects net investment activity of $350M–$450M.
Investment-Grade Rating and Cost-of-Capital Improvement
Achieved Fitch BBB- (investment-grade) rating; term loans repriced down ~20–25 bps resulting in ~ $2M annual interest savings; management noted potential incremental savings (~10 bps) with further upgrades.
Balance Sheet Liquidity and Conservative Leverage
Pro forma leverage reported at 3.8x; adjusted net debt to annualized adjusted EBITDAre 4.0x at quarter-end (3.8x including subsequent ATM raises), comfortably below target range of 4.5x–5.5x; total liquidity ~$1.0B (including $14M cash, $500M revolver availability, $373M unsettled forward equity and $150M undrawn term loan capacity); no material debt maturities until 2028 (weighted average debt maturity ~3.9 years, weighted average interest rate ~4.24%).
Diversification Progress and Disposition Execution
Sold 76 properties in 2025 for $178.6M at a 6.9% cash yield, achieving stated diversification goals (brought tenants below 5% ABR); added 15 new tenants in Q4 and 31 for the full year; expect Walgreens to be <2% of ABR by 2026 year-end.
Shareholder Returns and Capital Markets Activity
Board increased quarterly dividend 2.3% to $0.22 per share; capital markets activity included ATM sales of 5.8M shares ($104M net proceeds) in the quarter and an additional 2.6M shares ($46M) subsequent to quarter-end to support liquidity and growth.
NTST Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
NTST Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
Feb 10, 2026 | $19.28 | $19.26 | -0.10% |
Oct 27, 2025 | $19.31 | $18.57 | -3.83% |
Jul 23, 2025 | $17.46 | $17.57 | +0.63% |
Apr 28, 2025 | $15.08 | $15.37 | +1.92% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
FAQ
When does NETSTREIT (NTST) report earnings?
NETSTREIT (NTST) is schdueled to report earning on Apr 23, 2026, After Close (Confirmed).
What is NETSTREIT (NTST) earnings time?
NETSTREIT (NTST) earnings time is at Apr 23, 2026, After Close (Confirmed).
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is NTST EPS forecast?
NTST EPS forecast for the fiscal quarter 2026 (Q1) is 0.07.