NetSTREIT Corp (NYSE:NTST) reported better-than-expected results for the third quarter on Monday.
The company posted quarterly FFO of 33 cents per share which beat the analyst consensus estimate of 32 cents per share. The company reported quarterly sales of $48.308 million which beat the analyst consensus estimate of $46.223 million.
Netstreit affirmed FY2025 FFO guidance of $1.29-$1.31.
“We are pleased with our strong execution in the third quarter, achieving record gross investment volume fueled by an improving cost of capital and over $690 million in recently raised capital,” said Mark Manheimer, Chief Executive Officer of NETSTREIT. “Through continued accretive dispositions, we are well ahead of schedule of our year-end diversification goals, positioning our portfolio to thrive in an increasingly uncertain macroeconomic environment. Additionally, with a lowly levered balance sheet and over $1.1 billion in available liquidity, we are well-positioned to drive increased investments and strong long-term AFFO per share growth.”
Netstreit shares fell 3.4% to $18.88 on Tuesday.
These analysts made changes to their price targets on Netstreit following earnings announcement.
- Baird analyst Wesley Golladay maintained Netstreit with an Outperform rating and raised the price target from $20 to $21.
- Stifel analyst Simon Yarmak maintained the stock with a Buy and raised the price target from $20 to $21.
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