Loading...
•
Dec 31, 2021
Netstreit Q4 2021 Earnings Report
Reported net income of $0.05 and AFFO of $0.27 per diluted share.
Key Takeaways
NETSTREIT reported strong fourth quarter and full year 2021 results, with net income of $0.05 per diluted share and AFFO of $0.27 per diluted share for the fourth quarter. The company completed $413.7 million of net acquisitions in 2021 and grew its portfolio to 327 properties.
Reported net income per diluted share of $0.05 for the fourth quarter of 2021.
Core Funds from Operations (Core FFO) per diluted share of $0.25 for the fourth quarter of 2021.
AFFO per diluted share of $0.27 for the fourth quarter of 2021.
Completed $150.5 million of acquisitions in 32 properties at an initial cash capitalization rate of 6.5% during the quarter.
Forward Guidance
The Company announced its full year 2022 AFFO per share guidance in the range of $1.13 to $1.17 per share.
Positive Outlook
- The Company expects acquisition activity, including completed developments and net of dispositions, to be at least $480.0 million in 2022
- The Company expects cash G&A to be in the range of $14.5 million to $15.0 million (inclusive of transaction costs), and expects non-cash compensation expense to be in the range of $5.0 million to $5.5 million
- The Company expects cash interest expense to be in the range of $5.0 million to $5.5 million, with approximately $0.6 million of additional non-cash deferred financing fee amortization
- Full year 2022 diluted weighted average shares outstanding, which includes the impact of OP units, are expected to be in the range of 52.0 million to 54.0 million shares
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
Loading earnings performance data...
Loading earnings reaction data...