NetSTREIT Posts 22% Revenue Gain in Q2

Core Insights - NetSTREIT Corp. reported strong Q2 2025 results, with AFFO per diluted share of $0.33, significantly exceeding analyst expectations of $0.06 [1][5] - The company achieved a net income per diluted share of $0.04, a turnaround from a loss of $(0.03) in the previous year [1][5] - Revenue reached $48.3 million, marking a 22.1% year-over-year increase, driven by rental growth and higher interest income [1][5] Financial Performance - AFFO per diluted share increased by 3.1% year-over-year from $0.32 to $0.33 [2] - Funds from Operations (FFO) per diluted share rose 14.8% year-over-year from $0.27 to $0.31 [2] - Property-Level Cash NOI was reported at $39.3 million, a 22.0% increase from $32.2 million a year earlier [2] Portfolio Activity - The company acquired 32 properties for a total of $117.1 million at a blended initial yield of 7.8% [6] - Net investment activity totaled $49.4 million after selling 20 properties for $60.4 million at a 6.5% cash yield [6] - Occupancy remained high at 99.9%, with a weighted average lease term (WALT) of 9.8 years across the portfolio [7][10] Tenant Quality and Diversification - 52.2% of portfolio rent came from investment-grade tenants, although only 18.0% of new investment rent was from such tenants [8] - The portfolio consisted of 705 properties across 45 states, with exposure to 106 tenants and 27 industries, ensuring stability [11] Financial Strategy and Guidance - The company raised its quarterly dividend by 2.4% to $0.215 per share [14] - Full-year AFFO guidance was increased to $1.29 to $1.31 per share, reflecting confidence in the investment pipeline [15] - Net investment activity guidance was also raised to $125 million to $175 million for 2025 [15]