Netstreit Corp Stock Price, News & Analysis

NETSTREIT (NYSE: NTST) reported strong financial results for Q1 2021, achieving 100% rent collections for eight consecutive months. Key highlights include a net income per share of $0.02, Core FFO of $0.221, and AFFO of $0.231. The company completed $89.5 million in acquisitions and development, enhancing tenant and geographic diversity. Additionally, a recent equity offering raised $203.6 million aimed at funding further acquisitions. The Board declared a quarterly dividend of $0.20 per share and initiated AFFO guidance for 2021 between $0.95 and $0.99 per share.

NETSTREIT Corp. has successfully closed its public offering of 10,915,688 shares at $18.65 each, generating gross proceeds of approximately $203.6 million. The net proceeds will be directed to its operating partnership, with $13.0 million allocated to repay borrowings from its revolving credit facility used for property acquisitions. NETSTREIT aims to enhance its quality portfolio consisting of single-tenant net lease retail properties. The offering was managed by several prominent financial institutions, including Wells Fargo and BofA Securities.

NETSTREIT Corp. priced a public offering of 9,491,903 shares at $18.65 each, with a 30-day option for underwriters to purchase an additional 1,423,785 shares. This offering, up from a previous 8,000,000 share plan, is expected to close on April 12, 2021. Proceeds will be used to repay borrowings from a revolving credit facility and for general corporate purposes, including property acquisitions. The registration statement for this offering was filed with the SEC and declared effective on April 7, 2021.

NETSTREIT Corp. has initiated a public offering of 8,000,000 shares of common stock, with an option for underwriters to purchase an additional 1,200,000 shares. The net proceeds, expected to reach approximately $13.0 million, will be utilized to repay borrowings from the revolving credit facility, drawn to fund property acquisitions, along with general corporate purposes, including potential new acquisitions. Wells Fargo Securities and other firms are managing the offering, with a registration statement pending effectiveness.

NETSTREIT Corp. (NYSE: NTST) provided an update on its first quarter 2021 activities and plans to release financial results on April 29, 2021. The Company reported a total net investment activity of $89.5 million, with $88.2 million allocated to acquisitions at a 6.7% cash capitalization rate. The portfolio includes 235 leases with $48 million in annual base rent and a 100% rent collection rate for the quarter. NETSTREIT has increased its acquisition target for 2021 from $320 million to $360 million, highlighting confidence in its growth plans.

NETSTREIT (NYSE: NTST) reported Q4 and full-year 2020 results, showcasing resilient performance during economic challenges. Key highlights include a Q4 net income per diluted share of $0.15, with Core FFO at $0.181 and AFFO at $0.201. The company maintained a 100% collection rate for Q4 rents, with an annual collection rate of 96.9%. By year-end, the portfolio expanded to 203 properties, contributing $41.8 million in annualized base rent, with 70% leased to investment-grade tenants. Looking ahead, NETSTREIT aims for $320 million in acquisitions for 2021 and declared a quarterly dividend of $0.20 per share.

NETSTREIT Corp. announced the 2020 tax treatment for its common stock distributions. The record date for the first distribution is September 15, 2020, with a payment date of September 25, 2020, totaling $0.100 per share. The ordinary dividends and non-dividend distributions are 8.6538% and 91.3462%, respectively. The second distribution's record date is December 1, 2020, with a payment date of December 15, 2020, totaling $0.200 per share, with 0.0000% ordinary dividends and 100.0000% non-dividend distributions. Shareholders should consult their tax advisors for specific guidance.

NETSTREIT Corp. will announce its fourth quarter and full year 2020 financial results on March 4, 2021, post-market close. A conference call is scheduled for March 5, 2021, at 10:00 AM ET. Investors can participate via a live webcast on the company’s investor relations page, where a replay will also be available for 90 days. NETSTREIT, based in Dallas, specializes in high-quality, single-tenant net lease properties and aims to generate consistent cash flows and dividends for its shareholders through a robust portfolio.

NETSTREIT Corp. (NYSE: NTST) reported a strong performance for Q4 and the full year 2020, collecting 100% of rent and maintaining full portfolio occupancy. The company completed $81 million in acquisitions in Q4 with a 6.8% cash capitalization rate, and $409 million for the full year. Dispositions totalled $37 million in Q4 and $50 million for the year. As of year-end, the portfolio comprised 203 properties generating $41.8 million in annualized base rent. The company targets $320 million in net acquisition activity for 2021 and ended the year with a solid cash balance of $93 million.