NETSTREIT Corp. reported a significant increase in financial performance for the first quarter of 2025, with total revenues reaching $45.9 million, up from $37.7 million in the same period last year. This 22% increase was primarily driven by a rise in rental revenue, which grew to $42.6 million from $35.2 million, alongside a boost in interest income from loans receivable, which rose to $3.1 million from $2.5 million. The company’s net income also saw an increase, rising to $1.7 million compared to $1.1 million in the prior year, reflecting a 62% year-over-year growth.
In terms of operational changes, NETSTREIT acquired 18 properties for a total of $77.5 million during the quarter, a decrease from the 28 properties acquired for $95.2 million in the same quarter of 2024. The company also sold 16 properties for $38.6 million, resulting in a net gain of $2.1 million. As of March 31, 2025, NETSTREIT owned or had investments in 695 properties across 45 states, with a weighted average remaining lease term of 9.7 years, indicating a stable portfolio.
The company’s total liabilities increased to $971.8 million from $921.2 million at the end of 2024, largely due to new term loans and increased borrowings under its revolving credit facility. The total equity decreased to $1.31 billion from $1.33 billion, attributed to distributions exceeding retained earnings and other comprehensive losses. The company’s cash flow from operating activities improved significantly, providing $22.1 million compared to $11.7 million in the previous year, reflecting enhanced operational efficiency.
Looking ahead, NETSTREIT remains focused on expanding its portfolio while managing its debt levels. The company has amended its credit agreements to enhance liquidity and reduce financial covenants, which should support its acquisition strategy. The outlook for the remainder of 2025 includes expectations for continued growth in rental income and strategic property acquisitions, although the company acknowledges potential challenges from macroeconomic conditions, including fluctuating interest rates and inflation.
About NETSTREIT Corp.
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