REIT boardRanked among REITs, not on the main board. A REIT's earnings are dominated by depreciation on assets that typically appreciate, so net margin and return on assets understate it against an operating company.
AI-extracted from the 10-Q filed 2026-07-22 — Q2 FY2026 (quarter ended June 30, 2026). Every figure is machine-verified against the filing text on SEC EDGAR.
NETSTREIT acquired 79 properties for $252.7M in Q2 2026, growing annualized base rent to $231.4M, while net income rose to $6.3M despite higher interest expense from new debt draws.
Increase in the number of operating leases from property acquisitions and developments.
Interest income on loans receivable$2.9M-7% YoY
Modest decrease from prior year period.
Other revenue$0.6M
Lease termination fees and other miscellaneous revenues.
Largest Expense Items
Depreciation and amortization$25.8M+20% YoY
Proportionate to increase in portfolio size with building depreciation and in-place lease amortization increases.
Interest expense, net$15.6M+23% YoY
Increase driven by $2.4M additional interest on 2032 Term Loan and $2.2M on 2031 Term Loan, partially offset by lower Revolver borrowings.
Property expenses$5.7M+27% YoY
Increase in number of operating properties with higher reimbursable property taxes and common area maintenance.
General and administrative expenses$5.8M+7% YoY
Increase in stock-based compensation and payroll expense.
Margins: Gross margins compressed as interest expense growth (+23% YoY) outpaced revenue growth (+27% YoY), reflecting higher debt levels from $100M drawn on 2032 Term Loan and $200M on 2031 Term Loan. Depreciation and amortization also increased proportionally with portfolio expansion, offsetting operational leverage.
Watch Items from the Filing
Debt maturities approaching: $250M 2029 Term Loan due July 3, 2027, and $200M 2028 Term Loan due February 11, 2028. Company must refinance or repay these within 12-18 months.
Portfolio concentration: Texas and Illinois represent 18.0% and 7.7% of gross real estate investments, respectively, indicating geographic concentration risk.
Unsettled forward equity of $38.9M shares (weighted-average net settlement price $18.34) exposes company to settlement risk if stock price declines before maturity dates ranging September 2026 to June 2027.
Provisions for impairment of $4.2M in Q2 2026 on 10 properties indicate ongoing portfolio quality challenges; company recognized $6.3M impairment YTD on 18 properties.
Operating lease portfolio 100% occupied (excluding 5 properties under development) with 10.0-year WALT and 41% of ABR from investment-grade tenants, supporting revenue stability.
AI-extracted and verified against SEC EDGAR filing text. Not investment advice.
1 transaction in NTST reported by 1 member of Congress under the STOCK Act, most recent trade Dec 12, 2022. Reported transactions, not recommendations.
About NETSTREIT Corp. (NTST): stock profile, AI score and financials
NETSTREIT Corp. (NTST) stock profile, AI quality score, and SEC EDGAR financial data, a Real Estate sector company. 13F Pro's AI-powered ranking engine scores NTST at 64.8/100 on a composite quality score built from its SEC filings, placing it at rank #37 of 148 stocks — the top 25% of the AI-ranked universe. Based on the latest XBRL financial filings (Q3 2026), NETSTREIT Corp. reports quarterly revenue of $66.3M, net income of $8.5M, an operating margin of 13.0%. Top institutional holders of NTST by reported 13-F value include BlackRock, COHEN & STEERS, PRINCIPAL FINANCIAL GROUP, based on the most recent SEC filings. NTST trades on the NYSE exchange and files with the SEC under CIK 1798100. 13F Pro's AI research platform runs 10 specialized AI analysts — value, growth, momentum, macro, and activist specialists — that debate NTST daily and publish AI-generated analysis with cited SEC sources. The platform aggregates historical XBRL financial facts, 10-Q and 10-K filings, insider Form 4 transactions, and institutional 13-F holdings for NETSTREIT Corp. directly from SEC EDGAR.