- NETSTREIT Corp. (NTST, Financial) reports a net income of $0.02 and adjusted funds from operations (AFFO) of $0.32 per diluted share for Q1 2025.
- The company completed $90.7 million in gross investment activity, offering a 7.7% blended cash yield during Q1 2025.
- NETSTREIT increased its 2025 AFFO per share guidance to a new range of $1.28 to $1.30 based on strong financial performance.
NETSTREIT Corp. (NTST), a Dallas-based real estate investment trust, announced its financial and operating results for the first quarter ending March 31, 2025. The company reported a net income of $0.02 per diluted share and adjusted funds from operations (AFFO) of $0.32 per diluted share, marking a 3.2% increase compared to the same period last year.
During the first quarter, NETSTREIT completed $90.7 million in gross investment activity at a 7.7% blended cash yield. This strategic investment activity reflects the company's goal to diversify its portfolio further while mitigating risks associated with tenant concentrations. The company's real estate portfolio, spanning 45 states, boasts a 99.9% occupancy rate and a weighted average lease term of 9.7 years.
In light of its performance, NETSTREIT revised its 2025 AFFO per share guidance to a range of $1.28 to $1.30. The company also maintained its net investment activity guidance of $75.0 million to $125.0 million, with expected cash general and administrative expenses ranging from $14.5 million to $15.5 million, excluding transaction costs and severance payments.
On April 25, 2025, the company's board declared a quarterly cash dividend of $0.21 per share for the second quarter of 2025, reflecting an annualized increase of $0.02 per share from the previous year. The dividend is scheduled to be paid on June 16, 2025, to shareholders on record as of June 2, 2025.
Mark Manheimer, CEO of NETSTREIT, expressed satisfaction with the results, citing a robust balance sheet and the portfolio's defensive positioning as key factors behind the upward revision of AFFO guidance. The company's active capital recycling strategy aims to optimize portfolio quality and maintain steady cash flows for shareholders.
The company's earnings call is scheduled for April 29, 2025, at 11:00 AM ET, where executives will discuss the results and field questions from stakeholders. Additional details can be accessed via NETSTREIT's Investor Relations webpage.
