Netstreit Stock Earnings Reports

NETSTREIT reported a strong start to 2026 with accelerated investment activity and an opportunistic capital raise. In Q1 the company closed $239 million of gross investments at a blended cash yield of 7.5% and a weighted average lease term of 14.1 years. Portfolio metrics: 804 properties, 138 tenants across 28 industries and 46 states; occupancy was 99.9% at quarter end and has since returned to 100%; weighted average remaining lease term increased to 10.2 years; unit-level rent coverage ticked up to 3.9x; investment grade and investment-grade-profile tenants represent 58.3% of ABR. Balance sheet and capital markets: NETSTREIT completed forward equity and ATM activity totaling $304.1 million of net proceeds, ended the quarter with adjusted net debt of $629 million and adjusted net debt / annualized EBITDAre of 3.2x (below the company’s 4.5x–5.5x target range), and total liquidity of ~$1.1 billion (cash, revolver capacity, unsettled forward equity and undrawn term loan). Guidance and capital deployment: management raised full-year 2026 net investment activity guidance to $550–$650 million and increased the low end of AFFO per share guidance to $1.36–$1.39 (AFFO guidance includes estimated forward-equity dilution of $0.03–$0.06). Other items: recurring cash G&A guidance of $16–$17 million; Q1 AFFO was $0.34 per diluted share (6.3% YoY increase); board declared a $0.22 quarterly dividend. Portfolio activity included targeted dispositions to improve portfolio quality and recycle capital; the company continues to favor necessity and service-based sectors (grocery, convenience, QSR, auto service). Credit/watchlist: limited near-term deterioration, a small number of assets under 1x coverage and a handful in CCC+ implied rating bucket; guidance assumes about 50 bps of bad-debt. Management expects continued attractive deal flow but is conservatively pacing deployment given macro/geopolitical uncertainty.