NETSTREIT Corp. SEC 10-Q Report

NETSTREIT Corp., a real estate investment trust (REIT) specializing in single-tenant commercial retail properties, has released its Form 10-Q report for the second quarter of 2025. The report highlights significant improvements in both financial and operational performance, reflecting the company's strategic focus on expanding its high-quality tenant base and diversifying its investment portfolio.

Financial Highlights

Total Revenues: NETSTREIT Corp. reported total revenues of $48.3 million for the three months ended June 30, 2025, marking an increase from $39.6 million in the same period of 2024. This growth was driven by higher rental revenue and interest income on loans receivable.

Net Income: The company achieved a net income of $3.3 million for the three months ended June 30, 2025, compared to a net loss of $2.3 million in the same period of 2024, indicating a significant improvement in profitability.

Net Income Per Share: Net income per share was $0.04 for the three months ended June 30, 2025, compared to a loss of $0.03 per share in the same period of 2024, highlighting a positive turnaround in earnings per share.

Business Highlights

Revenue Segments: NETSTREIT Corp. primarily generates revenue through rental income from its portfolio of single-tenant commercial retail properties. The rental revenue includes both fixed lease income and variable lease income, which consists of tenant reimbursements for real estate taxes, insurance, and common area maintenance.

Geographical Performance: The company's investment portfolio is geographically dispersed across 45 states, with significant investments in Texas and Illinois, representing 13.1% and 9.1% of the total gross real estate investment, respectively.

Sales Units: As of June 30, 2025, NETSTREIT Corp. owned or had investments in 707 properties, including 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 June 30, 2025, which are expected to be substantially completed with rent commencing at various points throughout 2025.

Future Outlook: NETSTREIT Corp. continues to focus on acquiring, owning, and managing a diversified portfolio of single-tenant commercial retail properties. It also plans to invest in property developments and mortgage loans secured by real estate, with an emphasis on maintaining a high-credit-quality tenant base.

SEC Filing: NETSTREIT Corp. [ NTST ] - 10-Q - Jul. 23, 2025