NETSTREIT reported second quarter 2024 financial results, including $115.7 million in gross investment activity at a 7.5% blended cash yield. The company maintained its 2024 AFFO per share guidance range of $1.25 to $1.28 and increased its quarterly dividend by 2.4% to $0.21 per share.
Completed $115.7 million of gross investment activity at a 7.5% blended cash yield.
Maintained 2024 AFFO per share guidance range of $1.25 to $1.28.
Increased quarterly dividend by 2.4% to $0.21 per share.
The company was the victim of a criminal scheme involving a business email compromise of an employee that led to two fraudulent transfers totaling $3.3 million to a third-party impersonating one of our development partners. The result was a $2.8 million loss, net of insurance recoveries.
The Company is maintaining its full year 2024 AFFO per share guidance range of $1.25 to $1.28. The Company expects cash G&A to be in the range of $13.5 million to $14.5 million (exclusive of transaction costs and severance payments).
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