Item 5. Market for Registrant’s Common Equity
Item 5. Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities
Market Information for Common Stock, Holders of Record, and Distribution Policy
Our common stock is traded on the NYSE under the symbol “NTST.” As of February 19, 2025, there were 81,663,128 shares of our common stock issued and outstanding, which were held by approximately 62 stockholders of record. In addition, as of February 19, 2025, there were 424,956 outstanding Class A units of limited partnership of the operating partnership (“Class A OP Units”), which are convertible into shares of our common stock on a one-for-one basis. In addition, there are no remaining Class B units of limited partnership of the operating partnership (“Class B OP Units”), which have all been converted into shares of our common stock.
We intend to pay regular quarterly dividends to our stockholders, although all future distributions will be declared and paid at the discretion of our board of directors, and their form, timing and amount, if any, will depend upon a number of factors, including our actual and projected results of operations, liquidity, cash flows and financial condition, our REIT taxable income, the annual REIT distribution requirements, applicable law, including restrictions on distributions under Maryland law, and such other factors as our board of directors deems relevant.
During the years ended December 31, 2024 and 2023, we declared and paid the following common stock dividends (in thousands, except per share data):
Year Ended December 31, 2024
Declaration Date Dividend Per Share Record Date Total Amount Payment Date
February 13, 2024 $ 0.205 March 15, 2024 $ 15,031 March 28, 2024
April 23, 2024 0.205 June 3, 2024 15,042 June 14, 2024
July 23, 2024 0.210 September 3, 2024 16,251 September 13, 2024
October 18, 2024 0.210 December 2, 2024 17,133 December 13, 2024
$ 0.830 $ 63,457
Year Ended December 31, 2023
Declaration Date Dividend Per Share Record Date Total Amount Payment Date
February 21, 2023 $ 0.200 March 15, 2023 $ 11,650 March 30, 2023
April 25, 2023 0.200 June 1, 2023 12,173 June 15, 2023
July 24, 2023 0.205 September 1, 2023 13,768 September 15, 2023
October 24, 2023 0.205 December 1, 2023 14,084 December 15, 2023
$ 0.810 $ 51,675
The holders of OP Units are entitled to an equal distribution per each OP Unit held as of each record date.
Recent Sales of Unregistered Securities
None.
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Performance Graph
The following graph compares our cumulative total stockholder return based on the market price of our common stock, assuming dividends are reinvested, with the Standard & Poor’s 500 Composite Stock Index (“S&P 500”) and the NAREIT US Equity REIT Index for the period beginning August 13, 2020 (the date our common stock began trading on the NYSE exchange) and ending December 31, 2024. The graph assumes an investment of $100 on August 13, 2020.
Period Ending
Index 8/13/2020 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024
NETSTREIT Corp. $ 100.00 $ 111.58 $ 136.05 $ 113.24 $ 115.61 $ 96.30
S&P 500 $ 100.00 $ 112.05 $ 144.21 $ 118.08 $ 149.14 $ 186.45
NAREIT US EQUITY REIT Index $ 100.00 $ 106.04 $ 149.84 $ 112.46 $ 125.23 $ 131.39
The information above shall not be deemed to be “soliciting material” or to be “filed” with the SEC or subject to Regulation 14A or 14C, other than as provided in Item 201 of Regulation S-K, or to the liabilities of Section 18 of the Exchange Act, except to the extent we specifically request that such information be treated as soliciting material or specifically incorporate it by reference into a filing under the Securities Act or the Exchange Act.
Item 6. Reserved