Netstreit Investor Presentation Deck
Funds From Operations and Adjusted Funds From
Operations
(unaudited, dollars in thousands, except per share data)
GAAP Reconciliation:
Net income
Depreciation and amortization of real estate
Provisions for impairment
Gain on sales of real estate, net
Funds from Operations (FFO)
Non-recurring executive transition costs, severance and related charges
Loss on debt extinguishment and other related costs
Gain on insurance proceeds
Core Funds from Operations (Core FFO)
Straight-line rent adjustments
Amortization of deferred financing costs
Amortization of above/below-market assumed debt
Amortization of loan origination costs
Amortization of lease-related intangibles
Earned development interest
Capitalized interest expense
Non-cash interest expense
Non-cash compensation expense
Adjusted Funds from Operations (AFFO)
FFO per common share, diluted
Core FFO per common share, diluted
AFFO per common share, diluted
Dividends per share
Dividends per share as a percent of AFFO
Weighted average common shares outstanding, basic
Operating partnership units outstanding
Unvested restricted stock units
Unsettled shares under open forward equity contracts
Weighted average common shares outstanding, diluted
NETSTREIT
$
$
$
$
$
$
$
$
Three Months Ended September 30,
2023
2022
4,239 $
15,726
1,538
(373)
21,130
62
(1)
21,191
(245)
578
29
26
(121)
189
(404)
(1,134)
1,280
21,389
0.31
0.31
0.31
0.205
66%
67,112,587
501,987
173,001
260,794
68,048,369
$
$
$
$
$
$
$
1,419 $
13,241
(143)
14,517
14,517
(272)
239
28
(313)
(115)
1,302
15,386
0.28
0.28
0.30
0.200
67%
50,449,735
514,890
255,613
164,520
51,384,758
$
$
$
$
$
$
$
Nine Months Ended September 30,
2023
2022
4,928 $
46,379
4,374
(669)
55,012
276
223
(47)
55,464
(707)
1,165
86
83
(517)
189
(688)
(1,134)
3,559
57,500
0.605
66%
$
0.87 $
0.88 $
0.91 $
62,123,334
507,014
167,215
100,394
62,897,957
$
$
5,395
35,701
1,114
(2,162)
40,048
(36)
40,012
(1,144)
553
59
(644)
(218)
3,645
42,263
0.82
0.82
0.87
0.600
69%
47,679,870
530,940
261,727
184,512
48,657,049
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