NetSTREIT(NTST)

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NetSTREIT(NTST) - 2022 Q3 - Quarterly Report
2022-10-27 20:59
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _____ to _____ Commission File Number 001-39443 NETSTREIT Corp. (Exact name of registrant as specified in its charter) (State or other jurisdiction of (I.R.S. Employ ...
NetSTREIT(NTST) - 2022 Q2 - Earnings Call Presentation
2022-07-29 20:23
1 NETSTREIT Investor Presentation July 2022 Disclaimer This presentation contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Such forward-looking statements include, without limitation, statements concerning our business and growth strategies, investment, financing and leasing activities and trends in our business, including trends in the market for single-tenant, retail commercia ...
NetSTREIT(NTST) - 2022 Q2 - Earnings Call Transcript
2022-07-29 20:22
NETSTREIT Corp. (NYSE:NTST) Q2 2022 Earnings Conference Call July 29, 2022 10:00 AM ET Company Participants Mark Manheimer - President and Chief Executive Officer Andrew Blocher - Chief Financial Officer, Secretary and Treasurer Conference Call Participants Todd Thomas - KeyBanc Capital Markets Chris Wetherbee - Citi Connor Siversky - Berenberg Operator Greetings and welcome to the NETSTREIT Corp. Second Quarter 2022 Earnings Conference Call. At this time, all participants are in a listen-only mode. A brief ...
NetSTREIT(NTST) - 2022 Q2 - Quarterly Report
2022-07-28 20:30
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _____ to _____ (State or other jurisdiction of (I.R.S. Employer incorporation or organization) Identification No.) 2021 McKinney Avenue Suite 1150 Dallas, Texas 75201 (Ad ...
NetSTREIT(NTST) - 2022 Q1 - Earnings Call Transcript
2022-04-29 19:33
NETSTREIT Corp. (NYSE:NTST) Q1 2022 Earnings Conference Call April 29, 2022 10:00 AM ET Company Participants Amy An - IR Mark Manheimer - CEO Andy Blocher - CFO Conference Call Participants Nate Crossett - Berenberg Todd Thomas - KeyBanc Capital Markets Jason Wayne - Scotiabank Nicholas Joseph - Citi Linda Tsai - Jefferies Operator Greetings and welcome to the NETSTREIT Corp First Quarter 2022 Earnings Call. At this time, all participants are in a listen-only mode. [Operator Instructions] It is now my pleas ...
NetSTREIT(NTST) - 2022 Q1 - Quarterly Report
2022-04-28 20:11
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _____ to _____ Commission File Number 001-39443 NETSTREIT Corp. (Exact name of registrant as specified in its charter) (State or other jurisdiction of (I.R.S. Employer i ...
NetSTREIT(NTST) - 2021 Q4 - Earnings Call Transcript
2022-02-25 19:37
Financial Data and Key Metrics Changes - For Q4 2021, the company reported net income of $0.05, core FFO of $0.25, and AFFO of $0.27 per diluted share. For the full year 2021, net income was $0.08, core FFO was $0.87, and AFFO was $0.94 per diluted share [19][24] - The balance sheet at year-end showed total debt of $239 million, with a net debt to annualized adjusted EBITDA ratio of 4.2x, below the targeted leverage range of 4.5x to 5.5x [20][21] Business Line Data and Key Metrics Changes - The portfolio's annual base rent (ABR) grew to over $71 million, up from $42 million at the end of 2020, with 327 properties across 41 states and 67 tenants in 23 different industries [9][10] - The weighted average lease term remaining at year-end was 9.9 years, with a combined investment grade and investment grade profile tenancy of 81.6% [11] Market Data and Key Metrics Changes - The company completed a record high quarterly net investment activity of $160 million in Q4 2021, including $151 million of acquisitions and over $9 million in ongoing development funding [11][13] - The largest state concentration is in Texas at approximately 11%, with the largest industry being home improvement at 15% [9] Company Strategy and Development Direction - The company aims to grow its portfolio with high-quality assets and diversify holdings, targeting no state or industry to exceed 15% of total ABR and no tenant to exceed 5% [9][16] - Future asset sales will occur to improve credit quality and diversification, with a focus on maintaining a strong tenant base [14][15] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the pipeline for acquisitions and development, with expectations to achieve at least $480 million in net acquisition activity for 2022 [24][46] - The company is committed to enhancing its ESG disclosures and maintaining a strong operational environment as employees return to the office [17][26] Other Important Information - The Board declared a $0.20 regular quarterly cash dividend, payable on March 30, 2022 [24] - The company has established 2022 AFFO per share guidance in the range of $1.13 to $1.17 [25] Q&A Session Summary Question: Update on investment activity and acquisition pipeline - Management indicated a strong pipeline with expectations to add new tenants and maintain a comfortable acquisition pace in Q1 [29] Question: Plans for issuing debt this year - Management is considering turning out some of the credit facility balance towards the end of the year, depending on market conditions [30][32] Question: 2022 goals for portfolio diversification - Management aims to reduce tenant concentration below 5% by the end of 2023, with current exposure to Walgreens at 7.3% [36][38] Question: Expected cap rates for 2022 investments - Management expects cap rates to range between 6.2% to 7%, with a blended expectation around 6.5% [41][42] Question: Development projects and partnership opportunities - Management is optimistic about development projects, expecting to bring two or three online per quarter, enhancing the growth strategy [53] Question: Dividend outlook - Management indicated that while the decision on dividends lies with the board, there is potential for increases in the future based on portfolio performance [72]
NetSTREIT(NTST) - 2021 Q4 - Earnings Call Presentation
2022-02-25 16:09
1 Investor Presentation February 2022 Disclaimer This presentation contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Such forward-looking statements include, without limitation, statements concerning our business and growth strategies, investment, financing and leasing activities and trends in our business, including trends in the market for single-tenant, retail commercial real ...
NetSTREIT(NTST) - 2021 Q4 - Annual Report
2022-02-24 22:00
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2021 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _____ to _____ Commission File Number 001-39443 NETSTREIT Corp. (Exact name of registrant as specified in its charter) Maryland 84-3356606 (State or other jurisdiction of (I. ...
NetSTREIT(NTST) - 2021 Q3 - Earnings Call Transcript
2021-10-29 19:44
NETSTREIT Corp. (NYSE:NTST) Q3 2021 Earnings Conference Call October 29, 2021 10:00 AM ET Company Participants Amy An - Investor Relations Mark Manheimer - Chief Executive Officer Andy Blocher - Chief Financial Officer Conference Call Participants Ki Bin Kim - Truist Securities Todd Thomas - KeyBanc Capital Markets Linda Tsai - Jefferies Katy McConnell - Citi Operator Greetings. Welcome to NETSTREIT Corp. Third Quarter 2021 Earnings Call. [Operator instructions] Please note this conference is being recorded ...