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Get filing alertsNETSTREIT discloses $162M forward equity sold in Q2'26, $766M unsettled forward position
Filed June 16, 2026 · Period ending June 16, 2026 · ~1 min read
Key Changes
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Sold $162M of forward equity in Q2'26 to date; $766M of unsettled forward equity outstanding as of June 2026, providing substantial future liquidity for acquisitions and debt reduction.
Exhibit 99.1 view on EDGAR → -
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Invested $239M across 58 properties in Q1'26 at 7.5% cash cap rate with 14.1-year weighted average lease term; 34.7% of investments in investment grade or investment grade profile tenants.
Exhibit 99.1 view on EDGAR → -
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Big Lots bankruptcy outcome: 7 of 8 NETSTREIT leases accepted/assigned (87.5% rate) versus 15% acceptance rate across Big Lots' 1,400-store footprint, demonstrating location quality.
Exhibit 99.1 view on EDGAR → -
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Pro forma adjusted net debt to annualized adjusted EBITDAre of 2.4x; total pro forma liquidity of $1.3B reflecting unsettled forward equity and Q2 ATM sales.
Exhibit 99.1 view on EDGAR → -
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Q1'26 AFFO per diluted share of $0.34, up from $0.32 in Q1'25; quarterly dividend of $0.22 per share represents 65% payout ratio.
Exhibit 99.1 view on EDGAR →
Summary
NETSTREIT updated investors on substantial forward equity activity and strong Q1 2026 operating results. The company sold $162 million of forward equity in the second quarter to date and carries $766 million of unsettled forward equity as of June 2026, representing significant future capital for acquisitions and balance sheet management.
First quarter investment activity remained robust at $239 million across 58 properties at a 7.5% cash cap rate, continuing the pattern of $200+ million quarterly gross investments.
The Big Lots bankruptcy outcome provides validation of NETSTREIT's real estate selection: the company achieved an 87.5% lease acceptance rate (7 of 8 properties) while Big Lots overall retained only 15% of its 1,400-store footprint, significantly outperforming other multi-unit landlords. Historical credit losses remain de minimis at 3 basis points annually over six years. Pro forma leverage stands at 2.4x net debt to EBITDAre with $1.3 billion in total liquidity, supporting continued acquisition activity. AFFO per share grew to $0.34 in Q1 2026 from $0.32 in the prior-year quarter, with the $0.22 quarterly dividend representing a sustainable 65% payout ratio.
Section-by-Section Diff
Event · Exhibit 99.1
NETSTREIT filed an investor presentation updating portfolio metrics, capital structure, and forward equity activity as of March 31, 2026.
Added in current filing · view on EDGAR →
$162 million of forward equity sold QTD in 2Q’26 ... $766 million of unsettled forward equity as of June 2026
NETSTREIT disclosed that it sold $162 million of forward equity in the second quarter of 2026 to date, and as of June 2026 has $766 million of unsettled forward equity outstanding. This represents substantial capital raised through forward sale agreements that will settle in the future, providing liquidity for acquisitions and debt reduction. The presentation shows 34.2 million unsettled forward shares at March 31, 2026, plus 7.9 million ATM shares sold in 2Q'26.
Added in current filing · view on EDGAR → · paraphrased
$238,964 ... 58 ... 7.5% ... 34.7% ... 14.1
In the first quarter of 2026, NETSTREIT invested $239.0 million across 58 properties at a 7.5% cash cap rate, with 34.7% of the investments in investment grade or investment grade profile tenants and a 14.1-year weighted average lease term. This continues the company's pattern of $200+ million quarterly gross investments at attractive yields, as noted in the presentation's three consecutive quarters of $200+ million in gross investments.
Added in current filing · view on EDGAR →
With Big Lots footprint shrinking to ≈200 stores from ≈1,400 stores post bankruptcy (15% acceptance rate), NETSTREIT’s 87.5% acceptance rate (7 of 8 leases accepted/assigned in bankruptcy) was significantly better than all other multi-unit landlords
NETSTREIT disclosed that Big Lots, its only portfolio tenant to experience a credit event since inception, emerged from bankruptcy with only 15% of its stores (approximately 200 of 1,400), while NETSTREIT achieved an 87.5% acceptance rate (7 of 8 leases accepted or assigned). This outcome was significantly better than other multi-unit landlords and demonstrates the quality of NETSTREIT's real estate locations. The company's historical credit loss remains de minimis at 3 basis points annually over six years. Note: these figures were previously disclosed in the company's Jun 2, 2026 8-K.
Added in current filing · view on EDGAR → · paraphrased
2.4x PF Adj. Net Debt / Annualized Adj. EBITDAre ... $1.3 billion Total PF Liquidity
NETSTREIT reported pro forma adjusted net debt to annualized adjusted EBITDAre of 2.4x and total pro forma liquidity of $1.3 billion, reflecting the impact of unsettled forward equity and second quarter ATM sales. The company maintains a conservative balance sheet with no term loan maturities until 2028 and over 99% of its asset base unencumbered. This strong liquidity position supports continued investment activity.
Event · Item 7.01 — Regulation FD Disclosure
NETSTREIT released an investor presentation for use in meetings with investors, furnished under Regulation FD.
Show 1 minor / wording change
Added in current filing · verify on EDGAR →
On June 16, 2026, NETSTREIT Corp. (the “Company”) released a presentation that it intends to use from time to time in meetings with investors.
The company released an investor presentation intended for use in meetings with investors. The presentation is available on the company's Investor Relations website. This is a routine Regulation FD disclosure with no material business impact disclosed in the 8-K itself.
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Figures/quotes linked to EDGAR · Narrative written by AI · Jul 21, 2026 · How we verify