NETSTREIT
Owns single-tenant retail properties leased to necessity, service, and discount operators.
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Profile
Acquires and manages single-tenant retail properties under long-term net leases across the United States. Rent is tied to necessity, service, discount, and other physical-location-dependent retailers, with performance shaped by tenant credit, store economics, and competition for acquisition opportunities.
Acquires, owns, invests in, and manages single-tenant retail real estate under long-term net leases. The portfolio is concentrated in the United States and built around necessity goods, essential services, discount retail, home improvement, quick-service restaurants, auto parts, and other physical-location-dependent operators.
Leasing activity, property developments, and mortgage loans secured by real estate are reported together in one segment. Growth comes mainly through property acquisitions, capital recycling, and balance-sheet funding rather than corporate M&A.
Execution depends on underwriting small-ticket retail sites, sourcing marketed and off-market opportunities through industry relationships, and maintaining tenant quality. Each property is leased to a single tenant, so store-level economics, tenant financial stability, acquisition pricing, and access to capital shape the business.
Company facts
Categories
Key statistics
Year to date +15.2% · Average volume (30d) 1.7M
Analysts
Ratings
Target range
Latest analyst notes
| Date | Firm | Action | Rating | Prior target | Target |
|---|---|---|---|---|---|
| Jul 29, 2026 | Jefferies | Reiterate | Buy | $23 | $25 |
| Jul 28, 2026 | Cantor Fitzgerald | Reiterate | Overweight | $22 | $25 |
| Jul 23, 2026 | Stifel Nicolaus | Target | $22.25 | $23.50 | |
| Jul 20, 2026 | BMO Capital | Reiterate | Outperform | $24 | $25 |
| Jun 26, 2026 | BTIG | Reiterate | Buy | $22 | $24 |
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| Jul 22, 2026Q2 FY26 | $0.08 | $0.06 | −22.8% | $56.4M | $57.8M | +2.5% | +1.11% |
| Apr 20, 2026Q1 FY26 | $0.07 | $0.06 | −13.5% | $50.8M | $54.0M | +6.3% | +0.10% |
| Feb 10, 2026Q4 FY25 | $0.07 | $0.02 | −69.7% | $47.9M | $52.5M | +9.7% | −0.10% |
| Oct 27, 2025Q3 FY25 | $0.33 | $0.01 | −97.0% | $51.0M | $48.3M | −5.2% | −3.84% |
Financial highlights
| 12 quarters | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | |
|---|---|---|---|---|---|---|---|
| Revenue | $45.9M | $48.3M | $48.3M | $52.7M | $53.9M | $61.3M | |
| Gross profit | $41.1M | $43.7M | $44.0M | $47.0M | $48.6M | $55.6M | |
| Operating income | $15.0M | $16.7M | $17.5M | $18.5M | $18.4M | $19.7M | |
| Net income | $1.7M | $3.3M | $618.0K | $1.3M | $5.7M | $6.3M | |
| Diluted EPS | $0.02 | $0.04 | $0.01 | $0.02 | $0.06 | $0.06 | |
| Gross margin | 89.4% | 90.6% | 91.1% | 89.2% | 90.3% | 90.7% | |
| Operating margin | 32.6% | 34.7% | 36.2% | 35.1% | 34.2% | 32.2% |
Fiscal years (4-quarter sums)FY21 $59.1M · FY22 $96.3M · FY23 $131.9M · FY24 $162.8M · FY25 $195.3M
Balance sheet, Jun 30, 2026Cash & short-term investments $20.0M · Total debt $1.42B · Total assets $3.04B · Shareholders' equity $1.57B
Dividends
Raised for 4 straight years — most recently to $0.22 from $0.215 in Mar 2026. To collect a payout, hold shares through the close before the ex-date.
History
| Ex-date | Record | Paid | Amount | Note |
|---|---|---|---|---|
| Jun 1, 2026 | Jun 1 | Jun 15 | $0.22 | |
| Mar 16, 2026 | Mar 16 | Mar 31 | $0.22 | raised from $0.215 |
| Dec 1, 2025 | Dec 1 | Dec 15 | $0.215 | |
| Sep 2, 2025 | Sep 2 | Sep 15 | $0.215 | raised from $0.21 |
| Jun 2, 2025 | Jun 2 | Jun 16 | $0.21 | |
| Mar 14, 2025 | Mar 14 | Mar 31 | $0.21 | |
| Dec 2, 2024 | Dec 2 | Dec 13 | $0.21 | |
| Sep 3, 2024 | Sep 3 | Sep 13 | $0.21 | raised from $0.205 |
Ownership
A 13F quarter can total more than the shares outstanding — sub-advisers file the same block twice, and a filer's own share count can be a quarter stale. No split is drawn from it.
Shares outstanding 97.26M · Float —
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % outstanding | Form | Filed |
|---|---|---|---|---|
| Cohen & Steers, Inc. | 16.30M | 16.75% | 13F | Aug 14, 2026 |
| Principal Financial Group Inc | 9.62M | 9.89% | 13F | Aug 4, 2026 |
| Principal Real Estate Investors, LLC | 8.95M | 8.20% | 13G | May 12, 2026 |
| Vanguard Portfolio Management | 5.99M | 6.15% | 13G | Jul 31, 2026 |
| BlackRock Portfolio Management LLC | 5.62M | 5.80% | 13G | Jul 17, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Jun 18, 2026 | Mark Manheimer | director, officer: President, CEO and Secretary | +5,000 | $19.19 |
| Apr 23, 2026 | Robin McBride Zeigler | director | −7,192 | $20.85 |
| Dec 19, 2025 | Daniel P. Donlan | officer: CFO and Treasurer | +1,000 | $17.40 |
| Dec 8, 2025 | Daniel P. Donlan | officer: CFO and Treasurer | +1,000 | $17.34 |
| Sep 5, 2025 | Mark Manheimer | director, officer: President, CEO and Secretary | +5,600 | $17.94 |
Peers
- Realty Income
Largest net-lease rival for retail assets and capital access
- Agree Realty
Closest public pure-play for retail net-lease acquisitions
- Essential Properties Realty Trust
Middle-market net-lease peer with service-oriented deal flow
- NNN REIT
Established retail net-lease acquirer with broad tenant overlap
- Four Corners Property Trust
Restaurant and retail net-lease peer in branded outparcels
- Broadstone Net Lease
Diversified net-lease peer with retail acquisition overlap
- W. P. Carey
Global net-lease capital source for sale-leaseback assets
- Alpine Income Property Trust
Small-cap retail net-lease peer with loan overlap
CompareAfter-hours close
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| NETSTREIT | $20.47 | 0.00% | $1.99B | 146.4 | 57.9 | 9.2 | +19.8% |
| Realty Income | $62.13 | +0.22% | $57.80B | 45.2 | 38.4 | 9.7 | +1.1% |
| Agree Realty | $73.20 | −0.05% | $8.79B | 39.4 | 37.7 | 11.3 | +16.9% |
| Essential Properties Realty Trust | $30.37 | −0.03% | $6.57B | 23.5 | 23.0 | 9.9 | +10.3% |
| NNN REIT | $45.67 | −0.01% | $8.69B | 22.4 | 21.9 | 9.1 | +7.0% |
| Four Corners Property Trust | $25.23 | 0.00% | $2.77B | 22.7 | 22.5 | 9.0 | +7.7% |
| Broadstone Net Lease | $21.09 | 0.00% | $4.04B | 28.5 | 27.9 | 8.5 | +8.3% |
| W. P. Carey | $70.51 | 0.00% | $16.06B | 24.1 | 23.7 | 8.5 | +7.0% |
| Alpine Income Property Trust | $19.53 | 0.00% | $322.7M | 101.0 | 29.9 | 4.6 | +34.6% |
| Median | 26.3 | 25.8 | 9.1 | +8.0% |