Netstreit Corp. ( (NTST) ) has released its Q3 earnings. Here is a breakdown of the information Netstreit Corp. presented to its investors.
Don't Miss our Black Friday Offers:
- Unlock your investing potential with TipRanks Premium - Now At 40% OFF!
- Make smarter investments with weekly expert stock picks from the Smart Investor Newsletter
NETSTREIT Corp. is an internally managed real estate investment trust (REIT) based in Dallas, Texas, specializing in acquiring single-tenant net lease retail properties across the United States, with a focus on e-commerce resistant tenants.
In its latest earnings report for the third quarter of 2024, NETSTREIT Corp. reported a net loss of $0.07 per diluted share, while maintaining an Adjusted Funds from Operations (AFFO) of $0.32 per share. The company achieved a record gross investment activity totaling $151.6 million, alongside significant growth in its real estate portfolio.
Key financial metrics for NETSTREIT’s third quarter highlight a solid performance in Funds from Operations, with a slight increase of 3% to $0.32 per diluted share compared to the previous year. The company also maintained a 100% occupancy rate across its portfolio, supporting its robust investment and growth strategy. The appointment of Lori Wittman as Chair of the Board of Directors marks a notable governance change.
Strategic investment activities included 33 new investments totaling $151.6 million, with a cash yield of 7.5%, and 8 property dispositions at a yield of 7.3%. The company continues to focus on enhancing its portfolio diversification and internal growth potential, promising consistent AFFO growth and shareholder value.
Looking ahead, NETSTREIT Corp. maintains its forecast for AFFO per share for the year 2024, emphasizing its commitment to identifying quality investment opportunities and sustaining shareholder dividends.
