NYSE$NTST
Netstreit Corp · Q2 2021 earnings
Q2 2021 earnings · · Investor relations
Briefing
Reported strong results driven by strategic focus and completed a follow-on common equity offering.
NETSTREIT reported strong second-quarter results, with a 100% occupied portfolio and 100% rent collection for eleven consecutive months. The company completed a $200+ million follow-on common equity offering and net investment activity of $107.7 million.
- Reported net loss per share of $(0.07), Core Funds from Operations (“Core FFO”) per share of $0.181 and AFFO per share of $0.201.
- Collected 100% of the second quarter rent payments and for the month of July 2021, resulting in eleven consecutive months of 100% rent collections.
- Completed total net investment activity of $107.7 million.
- Reaffirms Full Year 2021 AFFO per share guidance in the range of $0.95 to $0.99.
Headline financials
Revenue & EPS history
Netstreit · Revenue · Quarterly
$13.8M
Revenue by segment
Netstreit · $9.65M total across 1 segment · Q3 2020
- Rental Revenue$9.65M—100.0%
Forward guidance
The Company is maintaining its full year 2021 AFFO per share guidance in the range of $0.95 to $0.99 per share.
Tailwinds
- Net acquisition activity, inclusive of dispositions, to be at least $360 million.
- Cash G&A to be in the range of $11.0 to $12.0 million, which includes recurring transaction costs.
- Additional non-cash compensation expense of $3.0 to $4.0 million
- Cash interest expense, including unused line of credit facility fees, of $3.0 to $3.5 million.
- Full year 2021 diluted weighted average shares outstanding, which includes the impact of OP units, are expected to be in the range of 38 to 39 million shares
Headwinds
- Additional $0.6 million of non-cash deferred financing fee amortization
- Taxes in the range of $0.2 to $0.3 million which will be reported as “income taxes” in the Company’s financial statements for 2021.
- The Company expects cash G&A to be in the range of $11.0 to $12.0 million, which includes recurring transaction costs
- Cash interest expense, including unused line of credit facility fees, of $3.0 to $3.5 million.
- Full year 2021 diluted weighted average shares outstanding, which includes the impact of OP units, are expected to be in the range of 38 to 39 million shares
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q2 2021
+0.6%
Avg return
Earnings day
+1.2%
Avg return
5 days after
+1.5%
Avg return
30 days after
56%
14 / 25 earnings
Positive
+5.7%
Q4 2021
Best reaction
-3.9%
Q3 2025
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | +0.5% | -1.6% | -1.6% | |
| Q4 2025 | -0.1% | +4.8% | +5.1% | |
| Q3 2025 | -3.9% | -4.7% | -6.7% | |
| Q2 2025 | +0.1% | +1.0% | -2.8% | |
| Q1 2025 | +2.0% | +0.9% | +0.9% | |
| Q4 2024 | +3.9% | +5.1% | +9.6% | |
| Q3 2024 | +4.0% | +5.6% | +2.9% | |
| Q2 2024 | +0.1% | -4.0% | -0.2% | |
| Q1 2024 | -0.9% | +2.1% | -0.9% | |
| Q4 2023 | +3.9% | +2.4% | +1.1% | |
| Q3 2023 | -1.9% | +1.6% | +11.5% | |
| Q2 2023 | -1.1% | -2.1% | -6.7% | |
| Q1 2023 | +1.9% | +2.5% | +1.1% | |
| Q4 2022 | +2.0% | +3.5% | -8.4% | |
| Q3 2022 | +1.8% | +4.1% | +7.1% | |
| Q2 2022 | -0.6% | +0.1% | -0.5% | |
| Q1 2022 | -2.7% | -3.7% | -4.3% | |
| Q4 2021 | +5.7% | +3.9% | +5.9% | |
| Q3 2021 | -2.5% | -3.5% | -12.3% | |
| Q2 2021 | +2.8% | +4.5% | +2.7% | |
| Q1 2020 | -0.5% | +1.7% | +6.6% | |
| Q1 2021 | -0.5% | +1.7% | +6.6% | |
| Q2 2020 | -3.0% | -2.3% | +1.7% | |
| Q4 2019 | +1.9% | +1.2% | +8.6% | |
| Q3 2020 | +1.5% | +4.8% | +10.9% | |
| Q3 2019 | — | — | — | |
| Q2 2019 | — | — | — | |
| Q1 2019 | — | — | — |
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