EarningsQ2 2026 Earnings Report
MX:NTST Q2 2026 EPS Results
Actual EPS$1.04
Consensus EPS$1.35
Beat/MissMissed by -$0.31
One Year Ago EPS$0.69
MX:NTST Q2 2026 Revenue Results
Actual Revenue$1.06B
Expected Revenue$974.02M
Beat/MissBeat by +$88.61M
YoY Revenue Growth+26.80%
Earnings Announcement Details
QuarterQ2 2026
Date07/22/2026
TimeAfter Close
Conference CallWednesday, July 22, 2026
MX:NTST Upcoming Earnings
NETSTREIT's next earnings date is estimated for October 22, 2026, based on past reporting schedules.
Q2 2026 Earnings Call Audio
MX:NTST Q2 2026 Earnings Call
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Q2 2026 Earnings Slide Deck
Q2 2026 Earnings Call Summary
Earnings Call Sentiment|Positive
Overall the call conveyed predominantly positive momentum: tangible growth in portfolio size and Q2 investment activity, stronger full-year investment and AFFO guidance, robust liquidity and conservative leverage, and successful capital markets execution (ATM and S&P 600 inclusion). Remaining risks discussed were manageable and mostly operational or timing-related (impairment from dispositions, G&A growth, forward-equity dilution, and limited visibility into the back half), and management emphasized disciplined underwriting and portfolio optimization to mitigate these.Company Guidance
Portfolio Scale and Composition
Portfolio grown to over $3.0 billion in assets with 859 investments leased to 156 tenants across 28 industries and 46 states; weighted average lease term ~10 years and unit-level rent coverage healthy at 3.8x.
Strong Investment Activity in Q2
Closed $299 million of gross investments in Q2 at a blended cash yield of 7.4% and a weighted average lease term of 9.8 years; executed targeted dispositions at a 6.8% blended cash yield to recycle capital into higher-quality, longer-duration assets.
Accretive UPREIT Speedway Acquisition
Acquired 20 Speedway properties via UPREIT at a 6.75% initial cash yield with long-term leases, investment-grade credit support, high unit-level rent coverage and low basis — cited as a strong risk-adjusted yield and example of creative capital structuring.
Improved Guidance and Growth Outlook
Increased 2026 net investment activity guidance to $700 million–$800 million and raised the bottom end of AFFO per share guidance to a new range of $1.37–$1.39, reflecting confidence in the investment pipeline and capital position.
AFFO and FFO Performance
Reported AFFO of $35.5 million ($0.35 per diluted share), a 6.1% increase YoY; Core FFO of $34.2 million ($0.33 per diluted share); net income $6.3 million ($0.06 per diluted share).
Strong Liquidity and Conservative Leverage
Total liquidity of approximately $1.1 billion at quarter-end (≈$20M cash, $301M revolver availability, $714M unsettled forward equity, $50M undrawn term loan capacity); adjusted net debt of $672.2M and adjusted net debt/annualized adjusted EBITDA of 3.2x, well below target range of 4.5x–5.5x.
Capital Markets Execution
Raised 9.0 million shares via ATM for ~$183 million net proceeds as cost of equity improved; highlighted S&P 600 inclusion driving incremental liquidity and passive demand.
Occupancy and Asset Management Win
Occupancy increased to 100% following backfill of a vacancy (former Big Lots) with a rated TJ Maxx at more than a 20% increase in rent, demonstrating effective asset management and lease-up capability.
MX:NTST Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed