NETSTREIT (NTST) AI Stock Analysis

• Market Cap: $2.25B
• Dividend Yield: 4.61%
• Average Volume (3M): 1.59M
• Price to Earnings (P/E): 247.9
• Beta (1Y): 0.30
• 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: 2,344,578
• 30 Day Avg. Volume: 1,592,340
• 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: 15.42
• Enterprise Value/Gross Profit: 17.14
• Enterprise Value/Ebitda: 19.90
• 1Y Price Target: $20.43
• Price Target Upside: 0.00%
• Rating Consensus: Strong Buy
• Number of Analyst Covering: 9
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 69 Neutral
• Price Target: $21.00 ▲(2.79% Upside)
• Action: Downgraded Date: 02/11/26
• Date: Action: Downgraded 02/11/26

NTST scores best on financial performance and the latest operational update: multi-year revenue/cash-flow growth, reaffirmed AFFO guidance, strong liquidity, and an investment-grade rating. Technicals are supportive with the stock trading above major moving averages and positive MACD, though near-term overbought signals add some risk. The main constraint on the overall score is valuation, with an extremely high P/E despite a solid dividend yield.

Positive Factors

Sustained Portfolio Investment & Revenue Growth

Record and repeatable acquisition activity materially expands cash‑renting portfolio scale and revenue base. High blended yields (7.5%) and long WA lease terms lengthen predictable cash flow, enabling durable rental income growth, higher portfolio diversification and improved operating leverage over time.

Strong Operating Cash Flow and Free Cash Flow Trend

A multi-year rise in operating and free cash flow demonstrates robust cash generation quality, supporting dividends, reinvestment and debt service. Reliable FCF conversion reduces reliance on external funding for growth and lowers refinancing risk, underpinning sustainable capital allocation over the medium term.

Investment‑Grade Rating & Strong Liquidity

An inaugural BBB- rating plus ~$1.0B liquidity (revolver capacity, forward equity, undrawn term loan) meaningfully lowers cost of capital and expands access to debt markets. This structural improvement increases financing optionality, supports accretive acquisitions and reduces cash‑flow vulnerability to rate shocks.

Negative Factors

Earnings Volatility / Uneven Profitability

Top‑line expansion masks uneven GAAP profitability, including a 2024 loss and only modest GAAP gains thereafter. Persistent volatility below the operating line can constrain retained earnings, impair ROE consistency and complicate long‑term planning for dividends and reinvestment.

Material Non‑Investment‑Grade Tenant Exposure

Meaningful non‑IG exposure (~41.7% ABR) and rising low‑coverage tranches increase the portfolio's sensitivity to consumer stress and discretionary category weakness. Over time this elevates credit and vacancy risk, potentially increasing churn, markdowns, or forced dispositions to preserve balance‑sheet metrics.

Reliance on Equity Capital Markets (Dilution Risk)

Repeated use of forward commitments and ATM issuance creates structural reliance on capital markets; if markets sour, the company may face timing constraints or dilute existing shareholders. Long‑term dependence on equity to fund growth can compress per‑share metrics and limit strategic flexibility.

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 expansion and improving operating/free cash flow support a solid core financial profile. Offsetting this is uneven profitability (notably a 2024 loss and only modest 2025 GAAP profit) and mixed balance-sheet signals versus leverage metrics discussed in the latest update.

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: Positive
• Last Price: 20.43
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Neutral
• STOCH: 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 20.43 is above the 20-day moving average (MA) of 19.32, above the 50-day MA of 18.35, and above the 200-day MA of 17.63, indicating a bullish trend. The MACD of 0.58 indicates Negative momentum. The RSI at 66.57 is Neutral, neither overbought nor oversold. The STOCH value of 84.20 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for NTST.

NETSTREIT Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
WSR	77 Outperform	$1.54B	17.84	10.34%	3.97%	4.44%	107.23%
FCPT	75 Outperform	$2.79B	23.29	7.56%	6.10%	8.28%	1.49%
GTY	74 Outperform	$1.95B	24.00	7.79%	6.77%	8.17%	9.96%
NTST	69 Neutral	$2.25B	247.93	0.50%	4.61%	19.92%	―
Sector *	65 Neutral	$2.17B	12.19	3.79%	4.94%	3.15%	1.96%
PINE	65 Neutral	$301.47M	-89.04	-1.00%	7.01%	14.81%	-245.25%
CBL	57 Neutral	$1.16B	8.72	37.88%	6.79%	5.74%	294.33%

NETSTREIT Corporate Events

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.