NETSTREIT Corp.
- Open
- 22.43
- Day high
- 22.43
- Day low
- 21.75
- Prev close
- 22.26
- Volume
- 1.4M
- Mkt cap
- $1.8B
- P/E (TTM)
- 177.5
- EPS (TTM)
- $0.12
- P/B
- 1.2
- P/S
- 8.9
- Yield
- 3.99%
- Per share
- $0.87
- ▼Insiders net selling -$54K over the last 3 months (1 open-market buy, 1 sale)
- 🏛Institutions accumulating (13F)
NETSTREIT Corp. (NTST) is a Real Estate company listed on NYSE. The stock is up 23% over the past year. Over the trailing 3 months, insiders filed 1 open-market buy and 1 sale (SEC Form 4).
NETSTREIT Corp. (NTST) financials & analyst ratings
Fundamentals (TTM)
Analyst consensus · 9 analysts
Source: exchange market data + company filings. Figures are trailing-twelve-month or as most recently reported. For informational purposes only — not investment advice.
NTST earnings date, history & EPS estimates
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| Apr 21, 2026 | $0.07 | $0.06 | -13.5% | $54M | +6.3% |
| Jul 23, 2025 | $0.32 | $0.04 | -87.5% | $48M | +0.1% |
| Feb 14, 2024 | $0.04 | $0.03 | -18.2% | $34M | +1.1% |
| Oct 25, 2023 | $0.04 | $0.06 | +63.6% | $34M | +5.5% |
| Jul 26, 2023 | $0.29 | $-0.01 | -103.4% | $32M | -1.0% |
| Feb 23, 2023 | $0.03 | $0.05 | +100.0% | $27M | +5.9% |
| Oct 27, 2022 | $0.03 | $0.03 | +0.0% | $25M | +3.9% |
| Jul 28, 2022 | $0.05 | $0.04 | -20.0% | $23M | +26.7% |
| Apr 28, 2022 | $0.04 | $0.04 | +9.1% | $21M | +19.7% |
| Feb 24, 2022 | $0.05 | $0.05 | +0.0% | $18M | +14.0% |
| Oct 28, 2021 | $0.06 | $0.07 | +16.7% | $16M | +4.6% |
| Jul 29, 2021 | $0.22 | $-0.07 | -131.8% | $14M | +5.3% |
NTST insider trading activity (SEC Form 4)
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| Jun 22, 2026 | Manheimer Markdirector, officer: President, CEO and Secretary | Buy | 5,000 | $19.19 |
| Apr 27, 2026 | Zeigler Robin McBridedirector | Sell | 7,192 | $20.85 |
| Apr 14, 2026 | Donlan Daniel Pofficer: CFO and Treasurer | Tax | 4,597 | $20.26 |
| Apr 14, 2026 | Donlan Daniel Pofficer: CFO and Treasurer | Option | 11,681 | — |
| Mar 10, 2026 | Manheimer Markdirector, officer: President, CEO and Secretary | Tax | 1,906 | $20.91 |
| Mar 10, 2026 | Manheimer Markdirector, officer: President, CEO and Secretary | Option | 4,842 | — |
| Mar 3, 2026 | Manheimer Markdirector, officer: President, CEO and Secretary | Grant | 28,036 | — |
| Mar 3, 2026 | Manheimer Markdirector, officer: President, CEO and Secretary | Grant | 20,017 | — |
| Mar 3, 2026 | Manheimer Markdirector, officer: President, CEO and Secretary | Tax | 7,877 | $20.77 |
| Mar 3, 2026 | Manheimer Markdirector, officer: President, CEO and Secretary | Tax | 11,033 | $20.77 |
| Mar 3, 2026 | Manheimer Markdirector, officer: President, CEO and Secretary | Tax | 5,978 | $20.77 |
| Mar 3, 2026 | Manheimer Markdirector, officer: President, CEO and Secretary | Tax | 2,792 | $20.77 |
| Mar 3, 2026 | Manheimer Markdirector, officer: President, CEO and Secretary | Option | 7,093 | — |
| Mar 3, 2026 | Manheimer Markdirector, officer: President, CEO and Secretary | Option | 15,190 | — |
| Mar 2, 2026 | Minnis Todddirector | Option | 7,192 | — |
Source: NTST SEC Form 4 filings, latest Jun 22, 2026. For informational purposes only — not investment advice.
See the full NTST insider & 13F page →NETSTREIT Corp. company profile
Overview
NETSTREIT Corp. (NYSE:NTST) is a Dallas-based real estate investment trust that went public in August 2020. The company specializes in acquiring single-tenant net lease retail properties across the United States, focusing on high-quality assets leased to financially stable tenants with strong credit profiles. Led by seasoned commercial real estate executives, NETSTREIT has rapidly built a diversified portfolio of retail properties designed to generate consistent cash flows and dividends for investors while maintaining resilience against e-commerce disruption.
Business
NETSTREIT operates in the net lease retail real estate sector, which is a specialized segment of commercial real estate investment. The company acquires and owns single-tenant retail properties under long-term lease agreements where tenants are responsible for most property expenses including taxes, insurance, and maintenance - hence the term "net lease." The company's core business involves purchasing retail properties that are already leased to established tenants, typically under lease terms averaging 9-10 years. These properties include locations for convenience stores, quick-service restaurants, pharmacies, dollar stores, auto service centers, and other necessity-based retailers. The portfolio spans 695 properties leased to 101 different tenants across 26 industries in 45 states, providing significant geographic and tenant diversification. NETSTREIT focuses on what it calls "e-commerce resistant" tenants - businesses that provide essential services or products that consumers typically need to purchase in person rather than online. Examples include automotive repair shops, medical facilities, convenience stores, and restaurants. Approximately 71% of the company's rental income comes from tenants with investment-grade credit ratings or similar financial profiles, providing stability and reducing credit risk. The company also engages in development projects and sale-leaseback transactions, where they work with retailers to develop new locations or purchase existing properties that the retailer then leases back for their operations.
Revenue model
NETSTREIT generates revenue primarily through rental income from its single-tenant net lease properties. Under net lease agreements, tenants pay a base rent plus assume responsibility for property taxes, insurance, and maintenance costs, providing the company with predictable cash flows and minimal operational responsibilities. The company's paying customers are established retail tenants who sign long-term leases, typically 10-15 years initially, with built-in rent escalations over time. Major tenants include Dollar General (8.1% of rental income), Walgreens, CVS, Family Dollar, and various convenience store, restaurant, and automotive service chains. NETSTREIT's business model benefits from several factors that can increase margins: rent escalations built into leases that provide annual income growth typically ranging from 1-2%, the ability to acquire properties at attractive cap rates during market dislocations, and economies of scale as the portfolio grows. The company targets acquiring properties at initial cash yields of 7-8%, providing a spread over their cost of capital. Factors that could pressure margins include rising interest rates that increase borrowing costs, economic downturns that could lead to tenant bankruptcies or store closures, increased competition for quality assets that compresses acquisition yields, and potential overexposure to retail sectors facing structural challenges. The company actively manages these risks by maintaining tenant diversification, focusing on necessity-based retailers with strong unit-level economics, and maintaining conservative leverage ratios.
Competitive moat
NETSTREIT's competitive moat is moderate and primarily operational rather than structural. The company's main advantages stem from its management team's expertise in underwriting retail real estate, established relationships with brokers and tenants, and access to capital markets as a public REIT. The company has built expertise in identifying high-quality retail locations with strong demographics and selecting tenants with durable business models that can withstand e-commerce pressure. Their track record of minimal credit losses (averaging just 4 basis points since inception) demonstrates effective tenant selection and portfolio management capabilities. However, the net lease retail sector faces significant competitive pressures. Larger, more established REITs like Realty Income and National Retail Properties have greater scale, lower cost of capital, and stronger tenant relationships. Private equity firms and institutional investors also compete aggressively for quality assets, often accepting lower yields. The company's relatively small size (approximately $2.3 billion in assets) limits its ability to compete for larger portfolio transactions and may result in higher relative costs. Additionally, the retail real estate sector faces ongoing structural headwinds from e-commerce growth, changing consumer behaviors, and potential oversupply in certain markets. While NETSTREIT focuses on "e-commerce resistant" tenants, this provides only partial protection against broader retail sector challenges.
Risks & safety
NETSTREIT exhibits a moderate margin of safety with reasonable financial stability but some areas of concern: • Liquidity and Cash Position: $14.2 million in cash with $584 million total liquidity including credit facilities; positive free cash flow of $22.1 million in Q1 2025 • Debt Management: Total debt of approximately $724 million with 4.7x net debt-to-EBITDA ratio; weighted average debt maturity of 4.3 years at 4.53% average interest rate • Solvency Risk: Low near-term bankruptcy risk given stable rental income and access to capital markets, though leverage is moderate for a REIT • Valuation Metrics: Trading at 0.99x book value and 15.4x EV/EBITDA; dividend yield around 5.4% appears sustainable based on AFFO coverage • Other Considerations: 100% occupancy rate provides stability, but concentration in retail sector creates sector-specific risks; tenant diversification efforts ongoing but top 10 tenants still represent 45% of rental income
Recent development
Over the past few years, NETSTREIT has focused on several key strategic initiatives to strengthen its portfolio and reduce risk. The company has been actively reducing tenant concentration, particularly in potentially vulnerable sectors like pharmacies and dollar stores. Walgreens exposure has been reduced from 5.9% to 3.8% of rental income, while the company targets having no single tenant above 5% of total rental income by year-end 2025. The company has expanded its investment strategy beyond traditional acquisitions to include development projects and sale-leaseback transactions. Recent development activities include 12 projects totaling nearly $40 million, while sale-leaseback deals have included transactions with tenants like Life Time Fitness, providing opportunities for higher yields and stronger tenant relationships. Capital structure optimization has been a major focus, with NETSTREIT raising $275 million in new financing including a $175 million senior unsecured term loan at 5.12% fixed rate and expanding its revolving credit facility to $500 million. The company is targeting credit rating agencies in the latter half of 2025 for a potential upgrade that could reduce borrowing costs by 30 basis points. NETSTREIT has also enhanced its portfolio quality metrics, increasing the percentage of investment-grade or investment-grade profile tenants to 71% of rental income while maintaining a weighted average lease term of nearly 10 years. The company continues to focus on necessity-based, service-oriented retailers that demonstrate resilience against e-commerce disruption.
NTST company profile · for informational purposes only — not investment advice.
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