The strong Q1 results and robust liquidity position support the company's growth trajectory. Monitor for continued investment pace and any updates on the unsettled forward equity settlement, which could provide further capital for acquisitions.
Price Chart
Executive Summary
NETSTREIT filed an 8-K furnishing an investor presentation containing Q1 2026 financial results. Total revenue grew 24.3% YoY to $57.1M, net income attributable to common stockholders rose to $5.7M from $1.7M, and AFFO per share increased to $0.34 from $0.32. The presentation highlights a 99.9% occupancy rate, $1.2B in pro forma liquidity, and a low 2.9x pro forma adjusted net debt/EBITDAre leverage ratio, positioning the company for continued investment activity.
Key Facts
- Total revenue for Q1 2026 was $57.1M, up 24.3% from $45.9M in Q1 2025.
- Net income attributable to common stockholders was $5.7M ($0.06 per diluted share) vs $1.7M ($0.02 per diluted share) in Q1 2025.
- AFFO per diluted share was $0.34, up from $0.32 in Q1 2025.
- Portfolio occupancy was 99.9% as of March 31, 2026.
- Pro forma liquidity totaled $1.2B, including $606M in unsettled forward equity.
- Pro forma adjusted net debt to annualized adjusted EBITDAre was 2.9x.
- Weighted average lease term (WALT) was 10.2 years.
- 58.3% of ABR is from investment grade or investment grade profile tenants.
- Gross investment activity in Q1 2026 was $239.0M, the third consecutive quarter above $200M.
- Dividend per share was $0.22, representing 65% of AFFO.
Financial Impact
Revenue growth of 24.3% YoY and AFFO per share growth of 6.3% YoY, supported by strong investment activity and a conservative balance sheet.
Risk Factors
- Rising interest rates could increase borrowing costs and cap rates, pressuring valuations.
- Tenant credit risk, particularly among sub-investment grade tenants representing 41.7% of ABR.
- Potential dilution from the 34.2 million unsettled forward shares.
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 5 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001628280-26-030133 |
| Document: ntst-20260505.htm | 0001628280-26-030133 |
| Document: 0001628280-26-030133-index-headers.html | 0001628280-26-030133 |
| Document: 0001628280-26-030133-index.html | 0001628280-26-030133 |
| Document: 0001628280-26-030133.txt | 0001628280-26-030133 |
Track record builds as more directional reports settle.
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 22, 2026 4d ago | SC 13G/A | $17.35 $17.49 | ▲ +0.81% | ▲ +0.10% | $17.49 (+0.81%) |
Oct 21, 2026 5d ago | 8-K | $17.02 $17.35 | ▲ +1.94% | ▲ +2.46% | $17.49 (+2.76%) |
Oct 21, 2026 5d ago | 8-K | $17.02 $17.35 | ▲ +1.94% | ▲ +2.46% | $17.49 (+2.76%) |
Oct 2, 2026 24d ago | 8-K | $17.52 $17.44 | ▼ −0.46% | ▼ −1.13% | $17.49 (−0.17%) |
Sep 3, 2026 7w ago | 8-K | $20.09 $20.22 | ▲ +0.65% | ▲ +1.20% | $17.49 (−12.94%) |
Jun 16, 2026 18w ago | 8-K | $20.02 $19.45 | ▼ −2.85% | ▼ −1.60% | $17.49 (−12.64%) |
Jun 2, 2026 20w ago | 8-K | $19.96 $19.63 | ▼ −1.65% | ▼ −0.93% | $17.49 (−12.37%) |
May 5, 2026 24w ago | 8-K | $20.32 $20.57 | ▲ +1.23% | ▼ −0.15% | $17.49 (−13.93%) |
Apr 23, 2026 26w ago | 144 | $20.56 $20.50 | ▼ −0.29% | ▼ −0.46% | $17.49 (−14.93%) |
Apr 21, 2026 26w ago | 424B5 | $20.85 $20.75 | ▼ −0.48% | ▼ −0.09% | $17.49 (−16.12%) |
US Market Status
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