Summary
- NETSTREIT Corp. (NTST), a Texas-based retail REIT, gets its buy rating reaffirmed, despite share price growth since prior coverage.…
Summary
- NETSTREIT Corp. (NTST), a Texas-based retail REIT, gets its buy rating reaffirmed, despite share price growth since prior coverage.
- NTST’s diversified tenant base in essential retail categories and strong Sunbelt geographic exposure support resilience amid macroeconomic uncertainty.
- Tenant over-concentration risk is low, while this REIT also has relationships with major brands like Walmart and Home Depot.
- The REIT has been able to achieve dividend growth, and its AFFO should be able to comfortably cover the dividend.
- The risk of interest rate movements and their impact on real estate funding costs has been discussed.
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Today’s Pick: A Texas-Based Retail REIT Whose Share Price Has Grown
Today we are exploring a retail REIT called NETSTREIT Corp (NTST), which is up around +13% since I recommended holding on to it in
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**Analyst’s Disclosure: **I/we have a beneficial long position in the shares of WSR, FVR either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.
Author invests actively in retail REITS like FVR and WSR, mentioned in the article, as well as in a REIT mutual fund with many holdings, and is a writer of a book on REITs. He does not currently hold shares in the subject of this article, Netstreit.
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