NETSTREIT Corp. has lifted the low end of its full‑year 2025 AFFO per share guidance to a range of $1.30 to $1.31, while keeping its net investment activity guidance unchanged at $350 million to $400 million. The company also reiterated its expected cash G&A expense of $15 million to $15.5 million for the year.
The guidance increase follows a Q3 2025 AFFO of $0.33 per diluted share, a 3.1% year‑over‑year rise, and a 2024 full‑year guidance of $1.24 to $1.28. By raising the low end to $1.30, NETSTREIT is effectively tightening the range and signaling confidence that the company will meet or exceed the high end of its investment guidance.
Management cited greater visibility into fourth‑quarter investment activity and a robust pipeline as the drivers of the revision. The company’s low‑levered balance sheet, with a debt‑to‑equity ratio of 0.86 and a current ratio of 9.42, provides the financial flexibility needed to capitalize on the anticipated investment opportunities.
NETSTREIT’s diversification strategy aims to keep its top tenant concentration below 5% of annualized base rent by year‑end. The company reports that it is well ahead of schedule on this goal, thanks to recent accretive dispositions that have reduced concentration risk and broadened its tenant mix.
The guidance update also reflects the impact of outstanding forward equity agreements, which dilute earnings but are expected to be fully exercised in the coming years. The company’s forward equity program is designed to fund future acquisitions while maintaining a low debt profile.
Analysts’ consensus estimate for 2025 AFFO was $1.31 per share. By setting a range that includes this estimate, NETSTREIT is aligning its guidance with market expectations while leaving room for upside if the investment pipeline performs as anticipated.
The guidance lift signals management’s confidence in the company’s ability to generate consistent cash flows, support future dividend payments, and continue aggressive portfolio growth. The update reinforces NETSTREIT’s positioning as a low‑levered, high‑quality net‑lease REIT with a strong balance sheet and a diversified tenant base.
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