Latest News by Industry
DALLAS (AP) — DALLAS (AP) — NETSTREIT Corp. (NTST) on Thursday reported a key measure of profitability in its fourth quarter. The results exceeded Wall Street expectations.
The real estate investment trust, based in Dallas, said it had funds from operations of $16.3 million, or 29 cents per share, in the period.
The average estimate of six analysts surveyed by Zacks Investment Research was for funds from operations of 28 cents per share.
Funds from operations is a closely watched measure in the REIT industry. It takes net income and adds back items such as depreciation and amortization.
The company said it had net income of $2.8 million, or 5 cents per share.
NETSTREIT, based in Dallas, posted revenue of $27.3 million in the period, also exceeding Street forecasts. Five analysts surveyed by Zacks expected $26.1 million.
For the year, the company reported funds from operations of $58.5 million. Revenue was reported as $96.3 million.
NETSTREIT expects full-year funds from operations in the range of $1.17 to $1.23 per share.
_____
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a NTST">Zacks stock report on NTST at https://www.zacks.com/ap/NTST