NETSTREIT reported strong first quarter results with 100% rent collections, $89.5 million in net investment activity, and initiated full-year AFFO guidance of $0.95 - $0.99 per share. Subsequent to quarter end, the company raised $203.6 million through a follow-on offering.
Reported net income per share of $0.02, Core Funds from Operations (“Core FFO”) per share of $0.22 and AFFO per share of $0.23 per share.
Collected 100% of rent payments for the first quarter and for the month of April 2021, resulting in eight consecutive months of 100% rent collections.
Total net investment activity of $89.5 million, which includes acquisitions and development.
Completed a follow on offering of 10,915,688 shares of common stock, which includes the full exercise of the underwriters’ option to purchase additional shares, at a price to the public of $18.65 per share for gross proceeds of approximately $203.6 million.
The Company is initiating its full year 2021 AFFO per share guidance in the range of $0.95 to $0.99 per share.
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