- Triple net REIT, - with $0.8 dividend- 100% occupancy as of Dec 2020 and for Oct, NOV & Dec- 100% rent collection- exposure to the casual dining sector was reduced from 4.5% to 2.2%- no exposure to any theater, health club or early childhood education tenants- For 2021, Net acquisition is expected to be $320 MGiven, 4.5% yield, with a small price appreciation, expect 10% return. I have opened a 1.5% position.
How do they fund acquisitions? Disposals and reallocation or are they tapping a credit facility?
They have credit facility that is not drawn much.
Here is an Seeking Alpha article that talks about NTST, it is not really hitting on the risks, but not bad overall.https://seekingalpha.com/article/4397990-buy-netstreit-growt...
They also have $93 million in cash
Cash is from their IPO in September no? It's a good portfolio. I don't know that much about management or why they decided to go public. Assuming NTST was a private REIT or PE portfolio before going public. Any idea who the largest shareholders are?
No new surprises in the 4Q results. - $92 M cash- $320 M acquisition planed; - I expect the company to issue at least $50 to $75 m equity- Still not clear how all this acquisition will convert into AFFO
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