NETSTREIT Corp. Triples Q1 Profit to $5.7M as Revenue Jumps 24%

NETSTREIT Corp. (NYSE: NTST), a single-tenant net lease real estate investment trust, reported net income of $5.69 million for the first quarter of fiscal 2026, compared with $1.69 million in the same period last year. Read more earnings reports.

Total revenue rose 24% to $57.06 million for the three months ending March 31, 2026, up from $45.91 million in the prior-year quarter. The revenue increase came as the company expanded its property portfolio, with total assets growing to $2.81 billion at quarter-end from $2.61 billion at December 31, 2025.

Cash from operations strengthened to $26.31 million in the first quarter, compared with $22.09 million a year earlier. The company deployed $211.69 million in investing activities during the quarter, primarily for property acquisitions, while raising $181.97 million through financing activities.

Long-term debt stood at $1.23 billion as of March 31, 2026, up from $1.10 billion at the end of December. The company's cash position declined to $11.06 million from $14.47 million over the same period.

Stockholders' equity increased to $1.51 billion at quarter-end from $1.45 billion three months earlier. The company's accumulated deficit widened to $267.74 million from $251.93 million, reflecting ongoing dividend distributions.

Earnings per share reached $0.06 on both a basic and diluted basis for the quarter, compared with $0.02 in the year-earlier period. The weighted average share count rose to 95.54 million basic shares from 81.64 million, reflecting equity issuances during the intervening period.

Income tax expense totaled $14,000 for the quarter, down slightly from $16,000 a year earlier.

First Quarter Financial Summary