What NETSTREIT does

NETSTREIT Corp. (NYSE: NTST) is an internally managed, publicly traded real estate investment trust that acquires, owns, and manages a diversified portfolio of single-tenant net lease retail properties across the United States. As of Q1 2026, the company's portfolio comprises 804 individual property investments leased to 138 tenants operating across 28 industries in 46 states, with 42.3% of annual base rent derived from investment-grade rated tenants. The company targets necessity-based, e-commerce-resistant retail segments — including discount stores, pharmacies, grocery, home improvement, convenience, and auto parts — and underwrites long-term triple-net lease structures with high-credit-quality tenants, evidenced by a 10.2-year weighted average lease term and 99.9% portfolio occupancy.

NETSTREIT's core product is the single-tenant net lease property itself, leased under contractual rent escalations with operating expense pass-throughs to tenants. The firm does not operate a proprietary technology platform; rather, its competitive positioning rests on capital deployment discipline, tenant credit underwriting, and Sunbelt-focused origination. Acquisitions are sourced through direct broker relationships, sale-leaseback transactions, and developer outreach, funded through a combination of public equity (follow-on offerings and at-the-market programs), secured credit facilities, and asset-level debt. Full-year 2025 gross investment activity was $657.1 million at a 7.5% blended cash yield, and 2026 net investment guidance has been set at $550–650 million.

The company's revenue model is essentially a rental-income yield vehicle, with Q1 2026 revenue of $57.06 million (24.29% year-over-year growth) generated almost entirely from contractual base rent across the net-lease portfolio. The company is led by President and CEO Mark Manheimer (founder of the current net-lease strategy in 2019) and CFO Daniel Donlan, and is headquartered in Dallas, TX. NETSTREIT achieved an investment-grade BBB- issuer rating from Fitch Ratings in December 2025, has $1.1 billion in total liquidity, and is scheduled to join the S&P SmallCap 600 index effective June 29, 2026, replacing ProAssurance Corp.

Name

NETSTREIT

Legal name

NETSTREIT Corp.

Website

https://netstreit.com

Company type

Public

Founded year

2019

Operating status

Operating

Headcount range

11–50 employees

Short description

NETSTREIT is a publicly traded single-tenant net lease retail REIT that acquires and manages 804 properties across 46 states, leased to 138 high-credit-quality tenants in necessity-based, e-commerce-resistant industries.

Ownership category

akta.pro rank

Headquarters

HQ city

Dallas

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Operations, Personnel, Infrastructure, Marketing or Sales, Technology or R&D

Revenue model

1. Rental Income from Net Lease Properties: NETSTREIT generates revenue primarily through rental payments from its portfolio of single-tenant net lease retail properties. Properties are leased under long-term lease agreements with contractual rent escalations. The company maintains near-full occupancy (99.9%) ensuring consistent rental income streams.

Go-to-market motion1 record

Distribution channels4 records

Marketing channels6 records

Core offering

NETSTREIT is an internally-managed real estate investment trust (REIT) that acquires, owns, and manages a diversified portfolio of single-tenant net lease retail properties across the United States. The company focuses on stand-alone retail properties leased to high-credit quality tenants in necessity-based, e-commerce-resistant industries under long-term lease structures with contractual rent escalations.

Product overview

NETSTREIT is a single-tenant net lease retail REIT that operates as a unified investment platform. The company acquires, owns, and manages a diversified portfolio of stand-alone retail properties across 46 U.S. states, leased to high-credit quality tenants in necessity-based industries. The core offering is single-tenant net lease property investment with 804 total investments, 138 tenants across 28 industries, and 42.3% investment-grade rated tenants. The company's investment approach focuses on defensive industries, investment-grade credit tenants, and long-term lease structures benefiting from contractual rent growth.

Differentiator

Problem solved

Functional benefit

Products and services

• Single-Tenant Net Lease Property Investment Acquisition, ownership, and management of a diversified portfolio of single-tenant net lease retail properties leased to high-credit quality tenants across 46 U.S. states, targeting investment-grade tenants in necessity-based industries. The portfolio consists of 804 investments across 138 tenants and 28 industries.

Quantifiable outcome

• Full-year 2025 gross investments of $657.1 million at 7.5% blended cash yield
• +5 more outcomes

Named customers20 records

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

One partnership is on record.

• Fitch RatingsmajorOthers · 30 December 2025Assigned NETSTREIT a BBB- investment grade issuer rating with stable outlook in December 2025, citing solid property portfolio and stable performance. The rating enables more efficient access to debt markets.

Scale indicators12 records

Recent moves8 records

Expansion highlights6 records

Direct peers

• Realty Income: Realty Income (NYSE: O) is the largest single-tenant net lease REIT with a multi-sector portfolio. CEO Mark Manheimer previously underwrote net lease transactions at Realty Income, making it the closest comparable in business model, tenant quality discipline, and capital-markets access for NETSTREIT.
• Agree Realty: Agree Realty (NYSE: ADC) is a net lease REIT focused on retail single-tenant properties leased to investment-grade tenants. ADC is the closest scaled peer in the small-cap retail net lease space, often directly compared to NETSTREIT in analyst composite rankings.
• NNN REIT: NNN REIT (NYSE: NNN) is one of the longest-tenured single-tenant net lease REITs, focused on retail real estate with long-term leases and contractual rent escalations. NNN is a direct competitor in the retail net lease sector and is consistently ranked alongside NETSTREIT in growth/income rankings.
• Essential Properties Realty Trust: Essential Properties Realty Trust (NYSE: EPRT) is a net lease REIT focused on middle-market retail and service tenants. CFO Daniel Donlan came from EPRT, providing a direct operational and strategic overlap with NETSTREIT on smaller-box, granular tenant underwriting.
• Broadstone Net Lease: Broadstone Net Lease (NYSE: BNL) is a net lease REIT with a diversified tenant base across industrial, restaurant, and retail sectors. BNL is a directly comparable peer in the small/mid-cap net lease space and competes for similar acquisition opportunities.
• Four Corners Property Trust: Four Corners Property Trust (NYSE: FCPT) is a net lease REIT primarily focused on restaurant properties leased to large operators. FCPT competes in the small-box, single-tenant acquisition market and shares a similar market cap range with NETSTREIT.
• Getty Realty: Getty Realty (NYSE: GTY) is a net lease REIT focused on convenience stores and automotive service properties. GTY competes in the small-tenant net lease space with similar lease-duration structures and acquisition-led growth models.

Broad incumbents

• W. P. Carey: W. P. Carey (NYSE: WPC) is a diversified net lease REIT with industrial, retail, office, and self-storage exposure. While larger and broader than NETSTREIT, it is a capital-markets comparable and competes for institutional net lease capital.

Emerging players

• STORE Capital: STORE Capital is a private net lease REIT (taken private by a GIC/Oak Street consortium in 2023) focused on middle-market single-tenant commercial properties. It is a comparable peer for the granular, smaller-tenant portion of NETSTREIT's portfolio.

Others

• Realty Income (Spirit Realty legacy): Realty Income acquired Spirit Realty Capital in 2024. Mark Manheimer previously led asset management at Spirit Realty; this prior employer relationship provides benchmark comparability on NETSTREIT's REIT operations and capital allocation framework.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/netstreit

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles5 records

Funding overview

Funding rounds8 records

Investors5 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about NETSTREIT