NETSTREIT Raises 2026 Net Investment Outlook Floor to $800 Million

NETSTREIT raised its minimum 2026 net investment activity target to $800 million after reaching $646.1 million through September, while keeping its annual adjusted funds from operations (AFFO) forecast unchanged.

Dallas-based NETSTREIT specializes in acquiring retail properties leased to one tenant under net-lease agreements across the country. Its prior 2026 outlook called for net investment activity of $700 million to $800 million. The revised outlook sets $800 million as the minimum, up from the previous $700 million floor, without specifying an upper bound.

The 2026 outlook applies to the calendar year, while the latest results cover the quarter ended Sept. 30. In July, NETSTREIT raised its net investment activity range from $550 million to $650 million to $700 million to $800 million. It also lifted its AFFO forecast then, from $1.36 to $1.39 per share to $1.37 to $1.39. The third-quarter update left that per-share range unchanged.

AFFO is a non-GAAP measure that adjusts core funds from operations for specified noncash revenues and expenses. NETSTREIT reported third-quarter AFFO of $0.35 per diluted share, up 6.1% from $0.33 in the same quarter a year earlier.

The company recorded $273.1 million in gross investments during the third quarter at a 7.4% cash yield. Gross investments for the first nine months totaled $811.0 million. Dispositions of $99.7 million and loan repayments of $65.1 million reduced that gross total to $646.1 million in net investment activity through Sept. 30. The net figure deducts those dispositions and repayments from gross investments.

NETSTREIT settled 24 million forward shares during the quarter for $419.6 million in net proceeds. The company estimated its 2026 weighted-average share count would be 2.0 million to 2.3 million shares above its earlier expectation, with an estimated AFFO impact of $0.025 to $0.03 per share.

The 2026 outlook depends on assumptions and is not guaranteed. CEO Mark Manheimer said, “NETSTREIT’s low leverage and ample liquidity have uniquely positioned us to capitalize on future opportunities.”