Dallas, TX (AP) – NETSTREIT Corp. (NTST) showcased robust performance in its fourth-quarter earnings report, surpassing projections set by Wall Street analysts.
The real estate investment trust, headquartered in Dallas, disclosed funds from operations totaling $21.6 million, equivalent to 31 cents per share, during the period. This figure outpaced the consensus estimate of 30 cents per share based on a survey conducted by Zacks Investment Research.
Funds from operations, a pivotal metric in the REIT sector, reflects the company’s profitability by incorporating net income and adjusting for depreciation and amortization.
In addition to its solid operational performance, NETSTREIT reported a net income of $1.9 million, or 3 cents per share.
Revenues for the quarter stood at $36.9 million, exceeding Street expectations. Analysts, according to Zacks, had anticipated revenues of $35 million.
Looking at the broader picture, for the fiscal year, NETSTREIT disclosed funds from operations amounting to $79.1 million, with reported revenues reaching $131.9 million.
Anticipating continued growth momentum, NETSTREIT provided a bullish outlook, forecasting full-year funds from operations in the range of $1.24 to $1.28 per share.
NETSTREIT’s impressive financial performance underscores its resilience and strategic positioning within the competitive real estate market, positioning it as a compelling investment opportunity for stakeholders seeking consistent returns.
Stay tuned for further updates as NETSTREIT continues to navigate the dynamic landscape of the real estate industry with confidence and agility.