Netstreit Corp. (NYSE: NTST) has achieved a BBB* issuer rating with a stable outlook from Fitch Ratings. This recognition reflects the company's solid property portfolio and stable operating performance, demonstrated by resilient pandemic-era performance with an occupancy rate of over 99%. Fitch also noted the company's solid unit-level rent coverage, minimal credit losses relative to peers, well-staggered debt maturities, and a strong liquidity profile providing significant flexibility.
Netstreit's Chief Financial Officer, Daniel Donlan, emphasized the company's commitment to a conservatively managed balance sheet and low leverage profile, which have been consistently maintained since the IPO over five years ago. Donlan also highlighted the potential for substantial interest expense savings across revolving credit and term loan facilities, as well as more efficient access to certain debt markets following this inaugural investment grade rating.
Netstreit Corp. is an internally managed real estate investment trust (REIT) based in Dallas, Texas, focusing on acquiring single-tenant net lease retail properties nationwide. The company's expanding portfolio comprises high-quality properties leased to e-commerce resistant tenants with healthy balance sheets. With a management team of seasoned commercial real estate executives, Netstreit's strategy aims to build the highest quality net lease retail portfolio in the country to generate consistent cash flows and dividends for its investors. Following these announcements, the company's shares moved 0.14%, and are now trading at a price of $17.345. For more information, read the company's full 8-K submission here.
