Netstreit Corp. (NTST)
NYSE:NTST
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NETSTREIT
(NYSE:NTST)
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Rating:69Neutral
Price Target:
$23.00
▲(16.34% Upside)
Action:ReiteratedDate: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.
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.
Read all positive and negative factors
Positive Factors
Negative 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.
Read all positive factors
NETSTREIT (NTST) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$2.18B
Dividend Yield4.61%
Average Volume (3M)1.17M
Price to Earnings (P/E)211.4
Beta (1Y)0.35
Revenue Growth19.92%
EPS GrowthN/A
CountryUS
Employees22
SectorReal Estate
Sector Strength53
IndustryREIT - Retail
Share Statistics
EPS (TTM)0.02
Shares Outstanding109,700,874
10 Day Avg. Volume1,012,395
30 Day Avg. Volume1,167,246
Financial Highlights & Ratios
PEG Ratio-1.39
Price to Book (P/B)1.01
Price to Sales (P/S)8.04
P/FCF Ratio13.33
Enterprise Value/Market Cap1.26
Enterprise Value/Revenue15.12
Enterprise Value/Gross Profit16.81
Enterprise Value/Ebitda19.51
Forecast
1Y Price Target
$22.22Price Target Upside12.39% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering10
EPS Forecast (FY)0.3
Revenue Forecast (FY)$215.16M
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...
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 stab...
NETSTREIT Key Performance Indicators (KPIs)
Any
Revenue by Segment
Breaks down income across different business areas, revealing which segments drive growth and profitability, and where strategic adjustments might be needed.
Breaks down income across different business areas, revealing which segments drive growth and profitability, and where strategic adjustments might be needed.
Data provided by:
The Fly
The FlyNETSTREIT Earnings Call Summary
Earnings Call Date:Feb 10, 2026
(Q4-2025)
| % Change Since: |
Next Earnings Date:Apr 20, 2026
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.Positive Updates
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.
Negative Updates
Low GAAP Net Income
Q4 net income was $1.3M ($0.02 per diluted share) and full-year net income was $0.08 per diluted share — GAAP earnings remain modest relative to AFFO/FFO performance.
Read all updates
Q4-2025 Updates
Positive
Negative
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.
Read all positive updates
Company Guidance
NETSTREIT reaffirmed 2026 AFFO per share guidance of $1.35–$1.39 (implying ~5% y/y growth at the midpoint) and said it is confident toward the upper end of the range; the outlook includes $0.015–$0.03 per share of estimated dilution from outstanding forward equity (treasury stock method). Management expects net investment activity of $350–$450 million and cash G&A of $16–$17 million, plans fewer dispositions in 2026, and noted a low dividend payout supports growth — the Board increased the quarterly dividend 2.3% to $0.22 per share (record March 16; payable March 31). Guidance is framed by a strong liquidity and balance‑sheet position (total liquidity ≈$1.0 billion — $14M cash, $500M revolver, $373M unsettled forward equity, $150M undrawn term loan), adjusted net debt of ~$720M (pro forma adjusted net debt/annualized adjusted EBITDAre ~3.8x), weighted‑average debt maturity ~3.9 years and weighted‑average interest rate ~4.24%.NETSTREIT Financial Statement Overview
Summary
Income Statement
72
Positive
Balance Sheet
66
Positive
Cash Flow
78
Positive
| 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
Positive
19.77
Price Trends
19.56
Positive
18.57
Positive
18.12
Positive
Market Momentum
-0.11
Negative
56.71
Neutral
92.01
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For NTST, the sentiment is Positive. The current price of 19.77 is above the 20-day moving average (MA) of 19.38, above the 50-day MA of 19.56, and above the 200-day MA of 18.12, indicating a bullish trend. The MACD of -0.11 indicates Negative momentum. The RSI at 56.71 is Neutral, neither overbought nor oversold. The STOCH value of 92.01 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for NTST.
NETSTREIT Risk Analysis
NETSTREIT disclosed 55 risk factors in its most recent earnings report. NETSTREIT reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
NETSTREIT Peers Comparison
UnderperformOutperform
Sector (65)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
74 Outperform | $1.98B | 19.46 | 7.86% | 6.77% | 8.17% | 9.96% | |
72 Outperform | $2.68B | 21.07 | 7.40% | 6.10% | 8.28% | 1.49% | |
71 Outperform | $1.74B | 14.09 | 11.37% | 3.97% | 4.44% | 107.23% | |
69 Neutral | $2.18B | 211.40 | 0.51% | 4.61% | 19.92% | ― | |
65 Neutral | $2.17B | 12.19 | 3.79% | 4.94% | 3.15% | 1.96% | |
65 Neutral | $282.31M | -90.17 | -1.09% | 7.01% | 14.81% | -245.25% | |
63 Neutral | $1.29B | 8.26 | 41.49% | 6.79% | 5.74% | 294.33% |
* Real Estate Sector Average
NTST
NETSTREIT
19.77
5.37
37.32%
GTY
Getty Realty
33.15
6.76
25.64%
WSR
Whitestone REIT
16.94
4.37
34.74%
FCPT
Four Corners Property
24.39
-0.97
-3.82%
PINE
Alpine Income Property Trust Inc
18.71
4.16
28.57%
CBL
CBL & Associates Properties
41.66
19.01
83.97%
NETSTREIT Corporate Events
Business Operations and StrategyFinancial Disclosures
NETSTREIT Highlights Strong Portfolio, Liquidity in Investor Update
Positive
Mar 2, 2026
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...
Private Placements and FinancingRegulatory Filings and Compliance
NETSTREIT Completes Public Equity Offering With Forward Sale
Neutral
Feb 13, 2026
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 s...
Business Operations and StrategyDividendsFinancial DisclosuresPrivate Placements and Financing
NETSTREIT Reports Strong Q4 Results, Raises Dividend, Reaffirms Guidance
Positive
Feb 10, 2026
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 ...
DividendsRegulatory Filings and Compliance
NETSTREIT Announces 2025 Dividend Tax Characterization Details
Neutral
Jan 27, 2026
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 o...
Business Operations and Strategy
NETSTREIT Earns First Investment-Grade Rating from Fitch
Positive
Dec 31, 2025
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 oc...
Business Operations and StrategyFinancial Disclosures
NETSTREIT Highlights Strong Occupancy and Financial Stability
Positive
Dec 8, 2025
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 investm...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.