{ "docId": "019de517-6e01-7228-82b3-1226269d2271", "docSlug": "fe9e9a2111113f7c24e0afffc4388ade", "documentTitle": "Netstreit | Investor Presentation Deck | 40 slides", "authorId": "netstreit", "authorName": "Netstreit", "documentKindSlug": "pitchdeck", "documentKindLabel": "Pitch deck", "sourceTypeSlug": "investor_relations", "sourceTypeLabel": "Investor relations", "presentationDate": "2023-11-01 00:00:00", "orientation": "landscape", "aspectRatio": 1.3333334, "pageNumber": 3, "pageCount": 40, "prevPage": 2, "nextPage": 4, "slideType": "other", "function": "summarize", "density": "overcrowded", "nDataPoints": 16, "notes": null, "elementsJson": null, "metadataConfidence": 1, "imagePath": null, "slideHref": "/slides/019de517-6e01-7228-82b3-1226269d2271/3", "deckHref": "/decks/019de517-6e01-7228-82b3-1226269d2271", "deckJsonHref": "/decks/019de517-6e01-7228-82b3-1226269d2271.json", "deckAnchorHref": "/decks/019de517-6e01-7228-82b3-1226269d2271#slide-3", "components": [ { "bbox": { "h": 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"componentId": "daed7642-df86-4fce-8381-6ac59926845e", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.09, "w": 0.44, "x": 0.11, "y": 0.46 }, "kind": "list", "text": "Low leverage with no immediate-term debt maturities\nStrong liquidity supported by active ATM program; issued $126 million of common stock through the ATM, with vast majority completed on a forward basis during 3Q'23", "attrs": {}, "subkind": "bullet", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "ee932884-752b-48a2-a66d-46ca8e9f4ce4", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.02, "w": 0.04, "x": 0.569, "y": 0.46 }, "kind": "metric", "text": "4.2x", "attrs": {}, "subkind": "big-number", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "07d0a401-9996-4656-b605-b10c31b1decc", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.02, "w": 0.07, "x": 0.772, "y": 0.27 }, "kind": "metric", "text": "100%", "attrs": {}, "subkind": "big-number", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "260c1513-0aca-4c30-909e-b88b1f54d075", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.02, "w": 0.03, "x": 0.772, "y": 0.33 }, "kind": "metric", "text": "26", "attrs": {}, "subkind": "big-number", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "3bd39179-aed2-4eba-822a-c8f4ee2b0b80", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.02, "w": 0.12, "x": 0.569, "y": 0.77 }, "kind": "metric", "text": "$327.9 million", "attrs": {}, "subkind": "big-number", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "47c54ea5-99d3-4b5a-a903-cce7707daf1b", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.02, "w": 0.05, "x": 0.772, "y": 0.77 }, "kind": "metric", "text": "7.2%", "attrs": {}, "subkind": "big-number", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "49e030c8-ab27-42c5-b9c8-ef8ba877a78a", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.02, "w": 0.04, "x": 0.772, "y": 0.46 }, "kind": "metric", "text": "22%", "attrs": {}, "subkind": "big-number", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "4afdd443-3e8f-4bc2-b4e3-211e88338132", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.02, "w": 0.05, "x": 0.772, "y": 0.68 }, "kind": "metric", "text": "6.7%", "attrs": {}, "subkind": "big-number", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "4dcce2d6-01c3-41ba-b7c1-a882dbbb1ce7", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.02, "w": 0.1, "x": 0.569, "y": 0.68 }, "kind": "metric", "text": "$115 million", "attrs": {}, "subkind": "big-number", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "5935dc5e-4516-4c90-a582-c259a9460385", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.02, "w": 0.12, "x": 0.569, "y": 0.55 }, "kind": "metric", "text": "$564.6 million", "attrs": {}, "subkind": "big-number", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "6c96c98d-1dc1-4b1c-b507-2cd8f9aa5228", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.02, "w": 0.06, "x": 0.772, "y": 0.19 }, "kind": "metric", "text": "87%", "attrs": {}, "subkind": "big-number", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "79a5e75a-286b-45ee-8b10-aaf651816644", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.02, "w": 0.03, "x": 0.569, "y": 0.33 }, "kind": "metric", "text": "85", "attrs": {}, "subkind": "big-number", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "8ec2899a-40ff-441d-9e79-2a4a0e426cdf", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.02, "w": 0.06, "x": 0.569, "y": 0.19 }, "kind": "metric", "text": "83%", "attrs": {}, "subkind": "big-number", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "c79d06f3-b8b8-4313-b2ad-160cc03f46be", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.02, "w": 0.04, "x": 0.772, "y": 0.55 }, "kind": "metric", "text": "2027", "attrs": {}, "subkind": "big-number", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "c8739cc0-2a52-4ae3-8064-618ca7668a8d", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.02, "w": 0.07, "x": 0.569, "y": 0.27 }, "kind": "metric", "text": "100%", "attrs": {}, "subkind": "big-number", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "f7fbbead-0d06-478d-9adc-7401c44a88d4", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.03, "w": 0.16, "x": 0.772, "y": 0.21 }, "kind": "paragraph", "text": "Necessity, Discount, and\nService-Oriented Tenants", "attrs": {}, "subkind": "paragraph", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "053c0e2d-ba0a-4af0-846c-15f9ee4e0f16", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.01, "w": 0.07, "x": 0.772, "y": 0.35 }, "kind": "paragraph", "text": "Retail Industries", "attrs": {}, "subkind": "paragraph", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "07a48863-c372-4b44-b0d1-9df806ab9874", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.03, "w": 0.16, "x": 0.569, "y": 0.21 }, "kind": "paragraph", "text": "Investment Grade (IG) and\nInvestment Grade Profile (IGP)1", "attrs": {}, "subkind": "paragraph", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "2ba7e931-02e3-42d4-bda5-c9bc84c9197f", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.01, "w": 0.07, "x": 0.772, "y": 0.79 }, "kind": "paragraph", "text": "YTD Cash Yield", "attrs": {}, "subkind": "paragraph", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "3be4ef3a-3982-4a65-8c9e-9b1832f394ea", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.03, "w": 0.12, "x": 0.772, "y": 0.7 }, "kind": "paragraph", "text": "Cash Yield on New\nInvestments Since 3Q'20", "attrs": {}, "subkind": "paragraph", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "3ef69625-908d-4a04-ad36-c0b00c85078b", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.01, "w": 0.04, "x": 0.569, "y": 0.35 }, "kind": "paragraph", "text": "Tenants", "attrs": {}, "subkind": "paragraph", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "4fbd0f1e-69e5-42e8-9eef-9c27713feb73", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.01, "w": 0.09, "x": 0.569, "y": 0.79 }, "kind": "paragraph", "text": "YTD Net Investments", "attrs": {}, "subkind": "paragraph", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "796b059a-1959-4b8d-a17e-dbb0cc052494", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.03, "w": 0.12, "x": 0.772, "y": 0.48 }, "kind": "paragraph", "text": "Net Debt² / Undepreciated\nGross Assets", "attrs": {}, "subkind": "paragraph", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "8489558d-287e-4501-ba85-2028f26909da", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.01, "w": 0.07, "x": 0.772, "y": 0.29 }, "kind": "paragraph", "text": "Rent Collections", "attrs": {}, "subkind": "paragraph", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "94263d77-c642-4b23-b867-904044241767", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.03, "w": 0.12, "x": 0.569, "y": 0.7 }, "kind": "paragraph", "text": "Avg. Quarterly Investments\nSince 3Q'20", "attrs": {}, "subkind": "paragraph", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "9c4e0621-5e5e-422a-a41b-c9de0120c41f", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.01, "w": 0.08, "x": 0.772, "y": 0.57 }, "kind": "paragraph", "text": "First Debt Maturity4", "attrs": {}, "subkind": "paragraph", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "ae524a25-1cb4-4962-9f0b-6bab7cce3ec6", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.01, "w": 0.06, "x": 0.569, "y": 0.29 }, "kind": "paragraph", "text": "Occupancy", "attrs": {}, "subkind": "paragraph", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "d5bd66ec-7de9-4db8-9923-6e83a5371453", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.01, "w": 0.09, "x": 0.569, "y": 0.57 }, "kind": "paragraph", "text": "Total PF Liquidity2,3", "attrs": {}, "subkind": "paragraph", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "d9ae58c7-4e4a-4989-8805-99a6ece7468b", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.03, "w": 0.13, "x": 0.569, "y": 0.48 }, "kind": "paragraph", "text": "Net Debt² / Annualized Adj.\nEBITDAre", "attrs": {}, "subkind": "paragraph", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "e763a6a3-228c-4e69-a648-4ed35b635a6a", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.01, "w": 0.84, "x": 0.034, "y": 0.866 }, "kind": "source-note", "text": "Source: Company data and balance sheet as of September 30, 2023, unless otherwise noted. Figures represent percentage of ABR unless otherwise noted.", "attrs": {}, "subkind": null, "toolName": null, "toolSlug": null, "confidence": null, "componentId": "16d3d6d4-0347-43ec-81b7-5e68b0296f08", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.06, "w": 0.93, "x": 0.034, "y": 0.88 }, "kind": "source-note", "text": "1. Represents tenants with investment grade credit metrics (more than $1.0 billion in annual sales and a debt to adjusted EBITDA ratio of less than 2.0x), but do not carry a published rating from S&P, Fitch, Moody's, or NAIC.\n2. Adjustment reflects 5,983,7116 shares of unsettled forward equity shares under the ATM at the September 30, 2023 available net settlement price of $16.49.\n3. Pro forma (PF) adjustment includes the $100.0 million remaining available principal from the $250.0 million senior unsecured term loan that closed on July 3, 2023.\n4. 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