{
  "docId": "019de518-1e18-71bb-ab96-1ce8f3441093",
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  "documentTitle": "Netstreit | Investor Presentation Deck | 40 slides",
  "authorId": "netstreit",
  "authorName": "NETSTREIT",
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  "documentKindLabel": "Pitch deck",
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  "presentationDate": "2024-02-01 00:00:00",
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  "pageNumber": 18,
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  "nDataPoints": 30,
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      "kind": "chart",
      "text": "2025E AFFO per Share Multiple⁶ 13.5x 13.1x 12.9x 12.8x 11.9x 11.6x 11.5x 11.4x",
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      "text": "Net Debt + Pref. / EBITDA⁴ 2.5x⁵ 3.7x 4.7x 4.8x 5.0x 5.4x 5.4x 5.6x",
      "attrs": {},
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      "kind": "chart",
      "text": "2024E AFFO per Share Multiple³ 14.0x 13.9x 13.4x 13.4x 12.3x 11.9x 11.9x 11.9x",
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      "kind": "chart",
      "text": "2024E AFFO per Share Growth¹ 5.6% 4.6% 3.3% 3.1% 2.9% 2.4% 2.3% NA²",
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      "componentId": "f62c3c31-4253-4b77-997c-e1249742f90d",
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      "kind": "list",
      "text": "1. 2024E AFFO per share growth is calculated using FactSet mean 2024E AFFO per share estimates and 2023E AFFO per share estimates.\n2. During 2023, WPC spun-off NLOP. Year-over-year growth not comparable. Consensus WPC RemainCo 2023E AFFO estimate not available.\n3. 2024E AFFO per share multiple calculated using current price per share and FactSet mean 2024E AFFO per share estimates.\n4. Net Debt plus Preferred is adjusted for forward equity.\n5. Leverage uses capitalization as of December 31, 2023, and is adjusted for subsequent forward equity offering during 1Q24.\n6. 2025E AFFO per share multiple calculated using current price per share and FactSet mean 2025E AFFO per share estimates.",
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      "kind": "paragraph",
      "text": "Note: Market data as of February 13, 2024. Peer capitalization data as of September 30, 2023. NTST capitalization data as of December 31, 2023, as adjusted for forward equity offering in 1Q24.",
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      "kind": "source-note",
      "text": "Source: Public filings, FactSet and S&P Capital IQ.",
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      "kind": "title",
      "text": "Relative Valuation and Growth Remains Stable",
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      "kind": "title",
      "text": "Multiple and Earnings Growth Comparison",
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      "name": "Golden Circle",
      "slug": "11-golden-circle",
      "bestFor": "Visionary leadership, brand positioning, mission statements",
      "matchId": "c78417bf-3c00-41f9-ab53-94aa3fe93883",
      "evidence": "The deck presents NETSTREIT's vision and approach to ESG",
      "position": 1,
      "objective": "Why does NETSTREIT's strategy matter?",
      "structure": "The Why (Belief) -> The How (Process) -> The What (Result)",
      "confidence": 0.6,
      "description": "Invert the typical pitch by starting with why you exist, rather than what you do"
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