2023 Q2 Form 10-Q Financial Statement

#000179810023000048 Filed on April 26, 2023

View on sec.gov

Income Statement

Concept 2023 Q2 2023 Q1
Revenue $31.63M $29.45M
YoY Change 39.75% 38.06%
Cost Of Revenue $3.530M $3.936M
YoY Change 31.47% 34.24%
Gross Profit $28.10M $25.52M
YoY Change 40.86% 38.67%
Gross Profit Margin 88.84% 86.64%
Selling, General & Admin $5.260M $4.909M
YoY Change 8.12% 17.16%
% of Gross Profit 18.72% 19.24%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $15.85M $14.95M
YoY Change 34.29% 35.9%
% of Gross Profit 56.39% 58.59%
Operating Expenses $21.11M $19.86M
YoY Change 27.03% 30.9%
Operating Profit $6.993M $5.658M
YoY Change 109.81% 75.17%
Interest Expense $5.521M $3.944M
YoY Change 262.75% 237.38%
% of Operating Profit 78.95% 69.71%
Other Income/Expense, Net -$4.966M -$4.111M
YoY Change -1434.95% 307.84%
Pretax Income -$824.0K $1.438M
YoY Change -139.18% -30.09%
Income Tax -$32.00K -$43.00K
% Of Pretax Income -2.99%
Net Earnings -$791.0K $1.472M
YoY Change -139.81% -24.2%
Net Earnings / Revenue -2.5% 5.0%
Basic Earnings Per Share -$0.01 $0.03
Diluted Earnings Per Share -$0.01 $0.03
COMMON SHARES
Basic Shares Outstanding 60.86M shares 58.03M shares
Diluted Shares Outstanding 61.04M shares 58.88M shares

Balance Sheet

Concept 2023 Q2 2023 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $13.14M $6.596M
YoY Change -33.8% 40.73%
Cash & Equivalents $13.14M $6.596M
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables $9.698M $8.600M
Other Receivables $115.0M $99.20M
Total Short-Term Assets $137.8M $114.4M
YoY Change 82.9% 118.45%
LONG-TERM ASSETS
Property, Plant & Equipment $1.380B $1.324B
YoY Change 26.0% 33.2%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $44.59M $13.17M
YoY Change 733.36% 13.23%
Total Long-Term Assets $1.610B $1.513B
YoY Change 24.39% 31.87%
TOTAL ASSETS
Total Short-Term Assets $137.8M $114.4M
Total Long-Term Assets $1.610B $1.513B
Total Assets $1.748B $1.627B
YoY Change 27.61% 35.65%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $2.792M $2.050M
YoY Change 40.94% 102.17%
Accrued Expenses $20.21M $12.55M
YoY Change 54.09% 7.05%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $23.00M $14.60M
YoY Change 52.36% 14.62%
LONG-TERM LIABILITIES
Long-Term Debt $486.6M $477.3M
YoY Change 18.26% 62.14%
Other Long-Term Liabilities $33.58M $39.84M
YoY Change 1.16% 44.58%
Total Long-Term Liabilities $520.2M $517.2M
YoY Change 16.99% 60.64%
TOTAL LIABILITIES
Total Short-Term Liabilities $23.00M $14.60M
Total Long-Term Liabilities $520.2M $517.2M
Total Liabilities $543.2M $531.8M
YoY Change 18.15% 58.89%
SHAREHOLDERS EQUITY
Retained Earnings -$90.33M -$77.24M
YoY Change 80.86% 83.06%
Common Stock $670.0K $609.0K
YoY Change 33.2% 27.14%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $1.195B $1.086B
YoY Change
Total Liabilities & Shareholders Equity $1.748B $1.627B
YoY Change 27.61% 35.65%

Cashflow Statement

Concept 2023 Q2 2023 Q1
OPERATING ACTIVITIES
Net Income -$791.0K $1.472M
YoY Change -139.81% -24.2%
Depreciation, Depletion And Amortization $15.85M $14.95M
YoY Change 34.29% 35.9%
Cash From Operating Activities $19.59M $14.81M
YoY Change 47.33% 65.36%
INVESTING ACTIVITIES
Capital Expenditures $113.2M $70.20M
YoY Change -194.04% -173.93%
Acquisitions
YoY Change
Other Investing Activities -$10.93M -$32.22M
YoY Change -68.95% -16.89%
Cash From Investing Activities -$124.1M -$102.4M
YoY Change -20.21% -23.41%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 111.1M $23.66M
YoY Change -29.44% -80.58%
NET CHANGE
Cash From Operating Activities 19.59M $14.81M
Cash From Investing Activities -124.1M -$102.4M
Cash From Financing Activities 111.1M $23.66M
Net Change In Cash 6.544M -$63.95M
YoY Change -56.84% 2092.97%
FREE CASH FLOW
Cash From Operating Activities $19.59M $14.81M
Capital Expenditures $113.2M $70.20M
Free Cash Flow -$93.60M -$55.39M
YoY Change -170.03% -153.31%

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AmortizationOfAboveAndBelowMarketAssumedDebt
29000 usd
CY2022Q1 ntst Amortization Of Above And Below Market Assumed Debt
AmortizationOfAboveAndBelowMarketAssumedDebt
0 usd
CY2023Q1 us-gaap Other Noncash Income Expense
OtherNoncashIncomeExpense
509000 usd
CY2022Q1 us-gaap Other Noncash Income Expense
OtherNoncashIncomeExpense
807000 usd
CY2023Q1 us-gaap Share Based Compensation
ShareBasedCompensation
1027000 usd
CY2022Q1 us-gaap Share Based Compensation
ShareBasedCompensation
1045000 usd
CY2023Q1 us-gaap Gains Losses On Sales Of Investment Real Estate
GainsLossesOnSalesOfInvestmentRealEstate
-319000 usd
CY2022Q1 us-gaap Gains Losses On Sales Of Investment Real Estate
GainsLossesOnSalesOfInvestmentRealEstate
161000 usd
CY2023Q1 ntst Gain Loss On Involuntary Conversion Of Building And Improvements
GainLossOnInvoluntaryConversionOfBuildingAndImprovements
12000 usd
CY2022Q1 ntst Gain Loss On Involuntary Conversion Of Building And Improvements
GainLossOnInvoluntaryConversionOfBuildingAndImprovements
0 usd
CY2023Q1 us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
1845000 usd
CY2022Q1 us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
1484000 usd
CY2023Q1 us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
-441000 usd
CY2022Q1 us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
-2742000 usd
CY2023Q1 ntst Payments For Lease Incentives
PaymentsForLeaseIncentives
500000 usd
CY2022Q1 ntst Payments For Lease Incentives
PaymentsForLeaseIncentives
0 usd
CY2023Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
14806000 usd
CY2022Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
8954000 usd
CY2023Q1 us-gaap Payments To Acquire Real Estate Held For Investment
PaymentsToAcquireRealEstateHeldForInvestment
67717000 usd
CY2022Q1 us-gaap Payments To Acquire Real Estate Held For Investment
PaymentsToAcquireRealEstateHeldForInvestment
89973000 usd
CY2023Q1 us-gaap Payments To Develop Real Estate Assets
PaymentsToDevelopRealEstateAssets
2480000 usd
CY2022Q1 us-gaap Payments To Develop Real Estate Assets
PaymentsToDevelopRealEstateAssets
4378000 usd
CY2023Q1 ntst Payments For Investment In Mortgage Loan Receivable
PaymentsForInvestmentInMortgageLoanReceivable
45917000 usd
CY2022Q1 ntst Payments For Investment In Mortgage Loan Receivable
PaymentsForInvestmentInMortgageLoanReceivable
40426000 usd
CY2023Q1 us-gaap Payments For Deposits On Real Estate Acquisitions
PaymentsForDepositsOnRealEstateAcquisitions
1773000 usd
CY2022Q1 us-gaap Payments For Deposits On Real Estate Acquisitions
PaymentsForDepositsOnRealEstateAcquisitions
630000 usd
CY2023Q1 us-gaap Payments To Acquire Other Property Plant And Equipment
PaymentsToAcquireOtherPropertyPlantAndEquipment
0 usd
CY2022Q1 us-gaap Payments To Acquire Other Property Plant And Equipment
PaymentsToAcquireOtherPropertyPlantAndEquipment
595000 usd
CY2023Q1 us-gaap Proceeds From Sale Of Real Estate Heldforinvestment
ProceedsFromSaleOfRealEstateHeldforinvestment
15463000 usd
CY2022Q1 us-gaap Proceeds From Sale Of Real Estate Heldforinvestment
ProceedsFromSaleOfRealEstateHeldforinvestment
2294000 usd
CY2023Q1 us-gaap Proceeds From Insurance Settlement Investing Activities
ProceedsFromInsuranceSettlementInvestingActivities
12000 usd
CY2022Q1 us-gaap Proceeds From Insurance Settlement Investing Activities
ProceedsFromInsuranceSettlementInvestingActivities
0 usd
CY2023Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-102412000 usd
CY2022Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-133708000 usd
CY2023Q1 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
52903000 usd
CY2022Q1 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
75497000 usd
CY2023Q1 us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
11650000 usd
CY2022Q1 us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
8888000 usd
CY2023Q1 us-gaap Payments Of Dividends Minority Interest
PaymentsOfDividendsMinorityInterest
101000 usd
CY2022Q1 us-gaap Payments Of Dividends Minority Interest
PaymentsOfDividendsMinorityInterest
109000 usd
CY2023Q1 ntst Payments Of Restricted Stock Dividends
PaymentsOfRestrictedStockDividends
92000 usd
CY2022Q1 ntst Payments Of Restricted Stock Dividends
PaymentsOfRestrictedStockDividends
106000 usd
CY2023Q1 us-gaap Repayments Of Other Long Term Debt
RepaymentsOfOtherLongTermDebt
26000 usd
CY2022Q1 us-gaap Repayments Of Other Long Term Debt
RepaymentsOfOtherLongTermDebt
0 usd
CY2023Q1 ntst Proceeds From Property Development Incentives
ProceedsFromPropertyDevelopmentIncentives
0 usd
CY2022Q1 ntst Proceeds From Property Development Incentives
ProceedsFromPropertyDevelopmentIncentives
375000 usd
CY2023Q1 us-gaap Proceeds From Lines Of Credit
ProceedsFromLinesOfCredit
99000000 usd
CY2022Q1 us-gaap Proceeds From Lines Of Credit
ProceedsFromLinesOfCredit
128000000 usd
CY2023Q1 us-gaap Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
116000000 usd
CY2022Q1 us-gaap Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
72000000 usd
CY2023Q1 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
360000 usd
CY2022Q1 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
363000 usd
CY2023Q1 us-gaap Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
15000 usd
CY2022Q1 us-gaap Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
568000 usd
CY2023Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
23659000 usd
CY2022Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
121838000 usd
CY2023Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-63947000 usd
CY2022Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-2916000 usd
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
70543000 usd
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
7603000 usd
CY2023Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
6596000 usd
CY2022Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
4687000 usd
CY2023Q1 us-gaap Interest Paid Net
InterestPaidNet
3641000 usd
CY2022Q1 us-gaap Interest Paid Net
InterestPaidNet
1108000 usd
CY2023Q1 us-gaap Dividends Payable Current And Noncurrent
DividendsPayableCurrentAndNoncurrent
122000 usd
CY2022Q1 us-gaap Dividends Payable Current And Noncurrent
DividendsPayableCurrentAndNoncurrent
128000 usd
CY2023Q1 ntst Noncash Investing And Financing Activities Unrealized Gain Loss On Derivatives
NoncashInvestingAndFinancingActivitiesUnrealizedGainLossOnDerivatives
-5979000 usd
CY2022Q1 ntst Noncash Investing And Financing Activities Unrealized Gain Loss On Derivatives
NoncashInvestingAndFinancingActivitiesUnrealizedGainLossOnDerivatives
6211000 usd
CY2023Q1 us-gaap Construction In Progress Expenditures Incurred But Not Yet Paid
ConstructionInProgressExpendituresIncurredButNotYetPaid
2516000 usd
CY2022Q1 us-gaap Construction In Progress Expenditures Incurred But Not Yet Paid
ConstructionInProgressExpendituresIncurredButNotYetPaid
1418000 usd
CY2023Q1 ntst Number Of Single Tenant Retail Net Leased Properties Owned
NumberOfSingleTenantRetailNetLeasedPropertiesOwned
488 property
CY2023Q1 us-gaap Number Of States In Which Entity Operates
NumberOfStatesInWhichEntityOperates
45 state
CY2023Q1 ntst Number Of Properties Rent Not Yet Commenced
NumberOfPropertiesRentNotYetCommenced
4 property
CY2023Q1 us-gaap Use Of Estimates
UseOfEstimates
<div style="text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:700;line-height:120%">Use of Estimates</span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">The preparation of the condensed consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the condensed consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. The Company’s most significant assumptions and estimates relate to the useful lives of real estate assets, lease accounting, real estate impairment assessments, and allocation of fair value of purchase consideration. These estimates are based on historical experience and other assumptions which management believes are reasonable under the circumstances. The Company evaluates its estimates on an ongoing basis and makes revisions to these estimates and related disclosures as experience develops or new information becomes known. Actual results could differ from those estimates.</span></div>
CY2023Q1 us-gaap Restricted Cash
RestrictedCash
0 usd
CY2022Q4 us-gaap Restricted Cash
RestrictedCash
4700000 usd
CY2023Q1 us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<div style="text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:700;line-height:120%">Concentrations of Credit Risk</span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">Financial instruments that potentially subject us to significant concentrations of credit risk consist principally of cash and cash equivalents. The Company is exposed to credit risk with respect to cash held at various financial institutions, access to its credit facilities, amounts due under mortgage loans receivable, and amounts due or payable under derivative contracts. The credit risk exposure with regard to the Company’s cash, credit facilities, and derivative instruments is spread among a diversified group of investment grade financial institutions.</span></div>
CY2023Q1 us-gaap Number Of Reportable Segments
NumberOfReportableSegments
1 segment
CY2023Q1 ntst Lessor Operating Lease Remaining Lease Term
LessorOperatingLeaseRemainingLeaseTerm
P9Y4M24D
CY2023Q1 us-gaap Operating Lease Lease Income Lease Payments
OperatingLeaseLeaseIncomeLeasePayments
24723000 usd
CY2022Q1 us-gaap Operating Lease Lease Income Lease Payments
OperatingLeaseLeaseIncomeLeasePayments
18067000 usd
CY2023Q1 us-gaap Variable Lease Income
VariableLeaseIncome
3538000 usd
CY2022Q1 us-gaap Variable Lease Income
VariableLeaseIncome
2689000 usd
CY2023Q1 us-gaap Amortization Of Above And Below Market Leases
AmortizationOfAboveAndBelowMarketLeases
-412000 usd
CY2022Q1 us-gaap Amortization Of Above And Below Market Leases
AmortizationOfAboveAndBelowMarketLeases
-283000 usd
CY2023Q1 ntst Lease Incentives Income
LeaseIncentivesIncome
-199000 usd
CY2022Q1 ntst Lease Incentives Income
LeaseIncentivesIncome
-118000 usd
CY2023Q1 us-gaap Lease Income
LeaseIncome
28474000 usd
CY2022Q1 us-gaap Lease Income
LeaseIncome
20921000 usd
CY2023Q1 us-gaap Lessor Operating Lease Payments To Be Received Remainder Of Fiscal Year
LessorOperatingLeasePaymentsToBeReceivedRemainderOfFiscalYear
77012000 usd
CY2023Q1 us-gaap Lessor Operating Lease Payments To Be Received Next Twelve Months
LessorOperatingLeasePaymentsToBeReceivedNextTwelveMonths
101804000 usd
CY2023Q1 us-gaap Lessor Operating Lease Payments To Be Received Two Years
LessorOperatingLeasePaymentsToBeReceivedTwoYears
101209000 usd
CY2023Q1 us-gaap Lessor Operating Lease Payments To Be Received Three Years
LessorOperatingLeasePaymentsToBeReceivedThreeYears
98383000 usd
CY2023Q1 us-gaap Lessor Operating Lease Payments To Be Received Four Years
LessorOperatingLeasePaymentsToBeReceivedFourYears
94112000 usd
CY2023Q1 ntst Lessor Operating Lease Payment To Be Received After Year Four
LessorOperatingLeasePaymentToBeReceivedAfterYearFour
488870000 usd
CY2023Q1 us-gaap Lessor Operating Lease Payments To Be Received
LessorOperatingLeasePaymentsToBeReceived
961390000 usd
CY2022Q1 us-gaap Lessee Operating Lease Remaining Lease Term
LesseeOperatingLeaseRemainingLeaseTerm
P9Y3M18D
CY2023Q1 us-gaap Lessee Operating Lease Discount Rate
LesseeOperatingLeaseDiscountRate
0.0325
CY2023Q1 us-gaap Operating Lease Cost
OperatingLeaseCost
135000 usd
CY2022Q1 us-gaap Operating Lease Cost
OperatingLeaseCost
135000 usd
CY2023Q1 us-gaap Variable Lease Cost
VariableLeaseCost
67000 usd
CY2022Q1 us-gaap Variable Lease Cost
VariableLeaseCost
3000 usd
CY2023Q1 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
412000 usd
CY2023Q1 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
617000 usd
CY2023Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
636000 usd
CY2023Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
653000 usd
CY2023Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
670000 usd
CY2023Q1 ntst Lessee Operating Lease Liability To Be Paid After Year Four
LesseeOperatingLeaseLiabilityToBePaidAfterYearFour
3311000 usd
CY2023Q1 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
6299000 usd
CY2023Q1 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
912000 usd
CY2023Q1 us-gaap Operating Lease Liability
OperatingLeaseLiability
5387000 usd
CY2023Q1 ntst Number Of Single Tenant Retail Net Leased Properties Owned
NumberOfSingleTenantRetailNetLeasedPropertiesOwned
488 property
CY2023Q1 ntst Number Of Properties Rent Not Yet Commenced
NumberOfPropertiesRentNotYetCommenced
4 property
CY2023Q1 us-gaap Real Estate Investments
RealEstateInvestments
1500000000 usd
CY2023Q1 us-gaap Number Of States In Which Entity Operates
NumberOfStatesInWhichEntityOperates
45 state
CY2023Q1 ntst Number Of Property Developments Under Construction
NumberOfPropertyDevelopmentsUnderConstruction
3 property
CY2023Q1 ntst Number Of Properties Completed Rent Not Yet Commenced
NumberOfPropertiesCompletedRentNotYetCommenced
1 property
CY2023Q1 ntst Payments To Develop Real Estate Assets And Acquisitions
PaymentsToDevelopRealEstateAssetsAndAcquisitions
4500000 usd
CY2023Q1 ntst Number Of Properties Developed
NumberOfPropertiesDeveloped
2 tenant
CY2023Q1 ntst Number Of Property Developments Under Construction
NumberOfPropertyDevelopmentsUnderConstruction
3 property
CY2022Q1 ntst Payments To Develop Real Estate Assets And Acquisitions
PaymentsToDevelopRealEstateAssetsAndAcquisitions
5000000 usd
CY2022Q1 us-gaap Interest Costs Capitalized
InterestCostsCapitalized
100000 usd
CY2023Q1 us-gaap Interest Costs Capitalized
InterestCostsCapitalized
100000 usd
CY2023Q1 ntst Number Of Properties Sold
NumberOfPropertiesSold
8 property
CY2023Q1 us-gaap Proceeds From Sale Of Real Estate Heldforinvestment
ProceedsFromSaleOfRealEstateHeldforinvestment
15500000 usd
CY2023Q1 us-gaap Gains Losses On Sales Of Investment Real Estate
GainsLossesOnSalesOfInvestmentRealEstate
-300000 usd
CY2022Q1 ntst Number Of Properties Sold
NumberOfPropertiesSold
1 property
CY2022Q1 us-gaap Proceeds From Sale Of Real Estate Heldforinvestment
ProceedsFromSaleOfRealEstateHeldforinvestment
2300000 usd
CY2022Q1 us-gaap Gains Losses On Sales Of Investment Real Estate
GainsLossesOnSalesOfInvestmentRealEstate
200000 usd
CY2023Q1 us-gaap Loans And Leases Receivable Gross Carrying Amount
LoansAndLeasesReceivableGrossCarryingAmount
92388000 usd
CY2022Q4 us-gaap Loans And Leases Receivable Gross Carrying Amount
LoansAndLeasesReceivableGrossCarryingAmount
46316000 usd
CY2023Q1 ntst Unamortized Loan Commitment And Origination Fees
UnamortizedLoanCommitmentAndOriginationFees
-34000 usd
CY2022Q4 ntst Unamortized Loan Commitment And Origination Fees
UnamortizedLoanCommitmentAndOriginationFees
-62000 usd
CY2023Q1 ntst Unamortized Discounts Or Premiums
UnamortizedDiscountsOrPremiums
155000 usd
CY2022Q4 ntst Unamortized Discounts Or Premiums
UnamortizedDiscountsOrPremiums
0 usd
CY2023Q1 us-gaap Loans And Leases Receivable Net Of Deferred Income
LoansAndLeasesReceivableNetOfDeferredIncome
92267000 usd
CY2022Q4 us-gaap Loans And Leases Receivable Net Of Deferred Income
LoansAndLeasesReceivableNetOfDeferredIncome
46378000 usd
CY2023Q1 ntst Number Of Real Estate Properties Held For Sale
NumberOfRealEstatePropertiesHeldForSale
3 property
CY2022Q4 ntst Number Of Real Estate Properties Held For Sale
NumberOfRealEstatePropertiesHeldForSale
11 property
CY2023Q1 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
192269000 usd
CY2023Q1 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
38056000 usd
CY2023Q1 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
154213000 usd
CY2022Q4 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
183861000 usd
CY2022Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
32855000 usd
CY2022Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
151006000 usd
CY2023Q1 us-gaap Below Market Lease Gross
BelowMarketLeaseGross
35596000 usd
CY2023Q1 us-gaap Below Market Lease Accumulated Amortization
BelowMarketLeaseAccumulatedAmortization
6248000 usd
CY2023Q1 us-gaap Below Market Lease Net
BelowMarketLeaseNet
29348000 usd
CY2022Q4 us-gaap Below Market Lease Gross
BelowMarketLeaseGross
35596000 usd
CY2022Q4 us-gaap Below Market Lease Accumulated Amortization
BelowMarketLeaseAccumulatedAmortization
5465000 usd
CY2022Q4 us-gaap Below Market Lease Net
BelowMarketLeaseNet
30131000 usd
CY2023Q1 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
4670000 usd
CY2022Q1 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
3628000 usd
CY2023Q1 us-gaap Amortization Of Below Market Lease
AmortizationOfBelowMarketLease
783000 usd
CY2022Q1 us-gaap Amortization Of Below Market Lease
AmortizationOfBelowMarketLease
610000 usd
CY2023Q1 ntst Net Adjustment To Rental Revenue
NetAdjustmentToRentalRevenue
213000 usd
CY2022Q1 ntst Net Adjustment To Rental Revenue
NetAdjustmentToRentalRevenue
165000 usd
CY2023Q1 ntst Net Adjustment To Rental Revenue After Year Four
NetAdjustmentToRentalRevenueAfterYearFour
1315000 usd
CY2023Q1 us-gaap Below Market Lease Amortization Income Remainder Of Fiscal Year
BelowMarketLeaseAmortizationIncomeRemainderOfFiscalYear
2276000 usd
CY2023Q1 us-gaap Below Market Lease Amortization Income Next Twelve Months
BelowMarketLeaseAmortizationIncomeNextTwelveMonths
3005000 usd
CY2023Q1 us-gaap Below Market Lease Amortization Income Year Two
BelowMarketLeaseAmortizationIncomeYearTwo
2982000 usd
CY2023Q1 us-gaap Below Market Lease Amortization Income Year Three
BelowMarketLeaseAmortizationIncomeYearThree
2890000 usd
CY2023Q1 us-gaap Below Market Lease Amortization Income Year Four
BelowMarketLeaseAmortizationIncomeYearFour
2818000 usd
CY2023Q1 ntst Below Market Lease Amortization Income After Year Four
BelowMarketLeaseAmortizationIncomeAfterYearFour
15377000 usd
CY2023Q1 us-gaap Below Market Lease Net
BelowMarketLeaseNet
29348000 usd
CY2023Q1 ntst Net Adjustment To Rental Revenue Remainder Of Fiscal Year
NetAdjustmentToRentalRevenueRemainderOfFiscalYear
607000 usd
CY2023Q1 ntst Net Adjustment To Rental Revenue Year One
NetAdjustmentToRentalRevenueYearOne
784000 usd
CY2023Q1 ntst Net Adjustment To Rental Revenue Year Two
NetAdjustmentToRentalRevenueYearTwo
762000 usd
CY2023Q1 ntst Net Adjustment To Rental Revenue Year Three
NetAdjustmentToRentalRevenueYearThree
671000 usd
CY2023Q1 ntst Net Adjustment To Rental Revenue Year Four
NetAdjustmentToRentalRevenueYearFour
677000 usd
CY2023Q1 ntst Net Adjustment To Rental Revenue Net
NetAdjustmentToRentalRevenueNet
4816000 usd
CY2023Q1 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
479472000 usd
CY2022Q4 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
496498000 usd
CY2023Q1 us-gaap Debt Instrument Unamortized Discount Premium And Debt Issuance Costs Net
DebtInstrumentUnamortizedDiscountPremiumAndDebtIssuanceCostsNet
2156000 usd
CY2022Q4 us-gaap Debt Instrument Unamortized Discount Premium And Debt Issuance Costs Net
DebtInstrumentUnamortizedDiscountPremiumAndDebtIssuanceCostsNet
2306000 usd
CY2023Q1 us-gaap Deferred Finance Costs Net
DeferredFinanceCostsNet
2499000 usd
CY2022Q4 us-gaap Deferred Finance Costs Net
DeferredFinanceCostsNet
2684000 usd
CY2023Q1 us-gaap Long Term Debt
LongTermDebt
474817000 usd
CY2022Q4 us-gaap Long Term Debt
LongTermDebt
491508000 usd
CY2023Q1 us-gaap Derivative Number Of Instruments Held
DerivativeNumberOfInstrumentsHeld
4 derivative
CY2023Q1 us-gaap Derivative Number Of Instruments Held
DerivativeNumberOfInstrumentsHeld
4 derivative
CY2023Q1 us-gaap Derivative Fixed Interest Rate
DerivativeFixedInterestRate
0.0012
CY2023Q1 ntst Derivative All In Interest Rate
DerivativeAllInInterestRate
0.0137
CY2023Q1 us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
185000 usd
CY2022Q1 us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
101000 usd
CY2023Q1 us-gaap Amortization Of Debt Discount Premium
AmortizationOfDebtDiscountPremium
151000 usd
CY2022Q1 us-gaap Amortization Of Debt Discount Premium
AmortizationOfDebtDiscountPremium
56000 usd
CY2023Q1 us-gaap Interest Costs Capitalized
InterestCostsCapitalized
134000 usd
CY2022Q1 us-gaap Interest Costs Capitalized
InterestCostsCapitalized
56000 usd
CY2023Q1 us-gaap Interest Expense Debt
InterestExpenseDebt
3944000 usd
CY2022Q1 us-gaap Interest Expense Debt
InterestExpenseDebt
1169000 usd
CY2023Q1 us-gaap Accounts Receivable Net
AccountsReceivableNet
8600000 usd
CY2022Q4 us-gaap Accounts Receivable Net
AccountsReceivableNet
7167000 usd
CY2023Q1 us-gaap Deferred Rent Receivables Net
DeferredRentReceivablesNet
6335000 usd
CY2022Q4 us-gaap Deferred Rent Receivables Net
DeferredRentReceivablesNet
5629000 usd
CY2023Q1 us-gaap Prepaid Expense Current And Noncurrent
PrepaidExpenseCurrentAndNoncurrent
4048000 usd
CY2022Q4 us-gaap Prepaid Expense Current And Noncurrent
PrepaidExpenseCurrentAndNoncurrent
3864000 usd
CY2023Q1 us-gaap Earnest Money Deposits
EarnestMoneyDeposits
1958000 usd
CY2022Q4 us-gaap Earnest Money Deposits
EarnestMoneyDeposits
185000 usd
CY2023Q1 us-gaap Derivative Assets
DerivativeAssets
18088000 usd
CY2022Q4 us-gaap Derivative Assets
DerivativeAssets
24067000 usd
CY2023Q1 us-gaap Deferred Offering Costs
DeferredOfferingCosts
825000 usd
CY2022Q4 us-gaap Deferred Offering Costs
DeferredOfferingCosts
796000 usd
CY2023Q1 us-gaap Debt Issuance Costs Line Of Credit Arrangements Net
DebtIssuanceCostsLineOfCreditArrangementsNet
2499000 usd
CY2022Q4 us-gaap Debt Issuance Costs Line Of Credit Arrangements Net
DebtIssuanceCostsLineOfCreditArrangementsNet
2685000 usd
CY2023Q1 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
4144000 usd
CY2022Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
4235000 usd
CY2023Q1 us-gaap Leasehold Improvements Gross
LeaseholdImprovementsGross
1907000 usd
CY2022Q4 us-gaap Leasehold Improvements Gross
LeaseholdImprovementsGross
1969000 usd
CY2023Q1 us-gaap Interest Receivable
InterestReceivable
600000 usd
CY2022Q4 us-gaap Interest Receivable
InterestReceivable
256000 usd
CY2023Q1 us-gaap Other Assets Miscellaneous
OtherAssetsMiscellaneous
1238000 usd
CY2022Q4 us-gaap Other Assets Miscellaneous
OtherAssetsMiscellaneous
1204000 usd
CY2023Q1 us-gaap Other Assets
OtherAssets
50242000 usd
CY2022Q4 us-gaap Other Assets
OtherAssets
52057000 usd
CY2023Q1 us-gaap Accrued Liabilities Current And Noncurrent
AccruedLiabilitiesCurrentAndNoncurrent
6815000 usd
CY2022Q4 us-gaap Accrued Liabilities Current And Noncurrent
AccruedLiabilitiesCurrentAndNoncurrent
5745000 usd
CY2023Q1 us-gaap Accrued Bonuses Current And Noncurrent
AccruedBonusesCurrentAndNoncurrent
352000 usd
CY2022Q4 us-gaap Accrued Bonuses Current And Noncurrent
AccruedBonusesCurrentAndNoncurrent
1305000 usd
CY2023Q1 us-gaap Advance Rent
AdvanceRent
4038000 usd
CY2022Q4 us-gaap Advance Rent
AdvanceRent
2937000 usd
CY2023Q1 us-gaap Operating Lease Liability
OperatingLeaseLiability
5387000 usd
CY2022Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
5464000 usd
CY2023Q1 us-gaap Accounts Payable Current And Noncurrent
AccountsPayableCurrentAndNoncurrent
2020000 usd
CY2022Q4 us-gaap Accounts Payable Current And Noncurrent
AccountsPayableCurrentAndNoncurrent
1782000 usd
CY2023Q1 us-gaap Deferred Rent Credit Current
DeferredRentCreditCurrent
2134000 usd
CY2022Q4 us-gaap Deferred Rent Credit Current
DeferredRentCreditCurrent
1756000 usd
CY2023Q1 us-gaap Other Liabilities
OtherLiabilities
2050000 usd
CY2022Q4 us-gaap Other Liabilities
OtherLiabilities
1394000 usd
CY2023Q1 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
2266000 usd
CY2022Q4 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
2157000 usd
CY2023Q1 us-gaap Accounts Payable And Accrued Liabilities Current And Noncurrent
AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent
25062000 usd
CY2022Q4 us-gaap Accounts Payable And Accrued Liabilities Current And Noncurrent
AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent
22540000 usd
CY2023Q1 us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
0.20
CY2023Q1 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.20
CY2023Q1 us-gaap Dividends Common Stock Cash
DividendsCommonStockCash
11650000 usd
CY2022Q1 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.20
CY2022Q1 us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
0.20
CY2022Q1 us-gaap Dividends Common Stock Cash
DividendsCommonStockCash
8888000 usd
CY2023Q1 us-gaap Payments Of Dividends Minority Interest
PaymentsOfDividendsMinorityInterest
100000 usd
CY2023Q1 ntst Op Unit Conversion Ratio
OPUnitConversionRatio
1
CY2022Q1 ntst Op Unit Conversion Ratio
OPUnitConversionRatio
1
CY2023Q1 ntst Op Unit Conversion Ratio
OPUnitConversionRatio
1
CY2019Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Authorized
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized
2094976 shares
CY2023Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
1000000.0 usd
CY2020Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Accelerated Compensation Cost
ShareBasedCompensationArrangementByShareBasedPaymentAwardAcceleratedCompensationCost
1400000 usd
CY2023Q1 ntst Op Unit Conversion Ratio
OPUnitConversionRatio
1
CY2023Q1 us-gaap Profit Loss
ProfitLoss
1481000 usd
CY2022Q1 us-gaap Profit Loss
ProfitLoss
1966000 usd
CY2023Q1 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
9000 usd
CY2022Q1 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
24000 usd
CY2023Q1 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
1472000 usd
CY2022Q1 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
1942000 usd
CY2023Q1 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
9000 usd
CY2022Q1 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
24000 usd
CY2023Q1 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
1481000 usd
CY2022Q1 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
1966000 usd
CY2023Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
58155738 shares
CY2022Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
44415807 shares
CY2023Q1 ntst Incremental Common Shares Attributable To Dilutive Effect Of Op Units
IncrementalCommonSharesAttributableToDilutiveEffectOfOPUnits
511402 shares
CY2022Q1 ntst Incremental Common Shares Attributable To Dilutive Effect Of Op Units
IncrementalCommonSharesAttributableToDilutiveEffectOfOPUnits
550673 shares
CY2023Q1 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
175859 shares
CY2022Q1 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
294272 shares
CY2023Q1 us-gaap Incremental Common Shares Attributable To Equity Forward Agreements
IncrementalCommonSharesAttributableToEquityForwardAgreements
40387 shares
CY2022Q1 us-gaap Incremental Common Shares Attributable To Equity Forward Agreements
IncrementalCommonSharesAttributableToEquityForwardAgreements
340058 shares
CY2023Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
58883386 shares
CY2022Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
45600810 shares
CY2023Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.03
CY2022Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.04
CY2023Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.03
CY2022Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.04
CY2023Q1 ntst Tenant Improvement Allowance Commitment
TenantImprovementAllowanceCommitment
4100000 usd
CY2023Q1 ntst Expected Investment In Real Estate Assets
ExpectedInvestmentInRealEstateAssets
6000000 usd
CY2022Q1 us-gaap Lessee Operating Lease Remaining Lease Term
LesseeOperatingLeaseRemainingLeaseTerm
P9Y3M18D

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