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Sep 30, 2023
Netstreit Q3 2023 Earnings Report
Reported solid results with net income of $0.06 per diluted share and AFFO of $0.31 per diluted share, completed $117.5 million of investment activity at 7.0% blended cash yield, and increased 2023 AFFO per share guidance range to $1.21 to $1.23.
Key Takeaways
NETSTREIT reported a solid third quarter with $103.9 million in net investment activity. The company increased its 2023 AFFO per share guidance midpoint, implying 5% growth over last year. They have no debt maturities until 2027, no net exposure to floating rate debt, low leverage, and ample liquidity.
Net income per diluted share was $0.06.
Adjusted Funds from Operations (AFFO) per diluted share was $0.31.
Completed $117.5 million of investment activity with a 7.0% blended cash yield.
Increased 2023 AFFO per share guidance range to $1.21 to $1.23.
Forward Guidance
The Company is increasing its full year 2023 AFFO per share guidance range to $1.21 to $1.23 and expects 2023 net investment activity to be around $450.0 million.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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