NETSTREIT Corp. SEC 10-Q Report

NETSTREIT Corp., a real estate investment trust specializing in acquiring, owning, and managing single-tenant commercial retail properties, has released its Form 10-Q report for the third quarter of 2025. The report highlights significant improvements in both financial and operational performance, reflecting the company's strategic focus on long-term net leases with high-credit-quality tenants across the United States.

Financial Highlights

• Total Revenues: $48.3 million for the three months ended September 30, 2025, reflecting an increase from $41.4 million in the same period in 2024, driven by higher rental revenue.
• Net Income: $0.6 million for the three months ended September 30, 2025, compared to a net loss of $5.3 million in the same period in 2024, indicating improved profitability.
• Net Income Per Share: $0.01 for the three months ended September 30, 2025, compared to a loss of $0.07 per share in the same period in 2024, showing a positive turnaround.
• Total Revenues: $142.5 million for the nine months ended September 30, 2025, up from $118.7 million in the same period in 2024, primarily due to increased rental revenue.
• Net Income: $5.6 million for the nine months ended September 30, 2025, compared to a net loss of $6.6 million in the same period in 2024, reflecting significant improvement in financial performance.
• Net Income Per Share: $0.07 for the nine months ended September 30, 2025, compared to a loss of $0.09 per share in the same period in 2024, highlighting enhanced earnings per share.

Business Highlights

• Revenue Segments: The company reported rental revenue, including reimbursable, of $45,026,000 for the three months ended September 30, 2025, and $132,774,000 for the nine months ended September 30, 2025. This includes fixed lease income and variable lease income, which primarily consists of tenant reimbursements for real estate taxes, insurance, and common area maintenance.
• Geographical Performance: The company's investment portfolio is geographically dispersed throughout 45 states, with significant investments in Texas and Illinois, representing 14.6% and 8.4% of the total gross real estate investment, respectively.
• Sales Units: As of September 30, 2025, the company owned or had investments in 723 properties, an increase from 692 properties as of December 31, 2024. This includes properties held for investment, properties held for sale, and properties under development.
• New Production Launches: The company had two property developments under construction as of September 30, 2025, which are expected to be substantially completed with rent commencing at various points throughout 2026.
• Future Outlook: The company expects to continue its strategy of acquiring, owning, and managing a diversified portfolio of single-tenant commercial retail properties. The focus remains on long-term net leases with high-credit-quality tenants across the United States, with an emphasis on maintaining a weighted average remaining lease term of 9.9 years.

SEC Filing: NETSTREIT Corp. [ NTST ] - 10-Q - Oct. 27, 2025