DALLAS (AP) — DALLAS (AP) — NETSTREIT Corp. (NTST) on Monday reported a key measure of profitability in its fourth quarter. The results surpassed Wall Street expectations.
The Dallas-based real estate investment trust said it had funds from operations of $25.9 million, or 32 cents per share, in the period.
The average estimate of seven analysts surveyed by Zacks Investment Research was for funds from operations of 31 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 a loss of $5.4 million, or 7 cents per share.
NETSTREIT, based in Dallas, posted revenue of $44.1 million in the period, which also beat Street forecasts. Five analysts surveyed by Zacks expected $43.3 million.
For the year, the company reported funds from operations of $97.4 million. Revenue was reported as $162.8 million.
NETSTREIT expects full-year funds from operations in the range of $1.27 to $1.30 per share.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on NTST at https://www.zacks.com/ap/NTST
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