2023 Q4 Form 10-Q Financial Statement

#000179810023000100 Filed on October 25, 2023

View on sec.gov

Income Statement

Concept 2023 Q4 2023 Q3
Revenue $36.86M $33.96M
YoY Change 35.03% 35.77%
Cost Of Revenue $5.063M $3.880M
YoY Change 43.06% 52.82%
Gross Profit $31.80M $30.08M
YoY Change 33.84% 33.84%
Gross Profit Margin 86.27% 88.57%
Selling, General & Admin $4.877M $5.130M
YoY Change -10.43% 12.7%
% of Gross Profit 15.34% 17.05%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $17.08M $15.80M
YoY Change 22.52% 17.91%
% of Gross Profit 53.7% 52.53%
Operating Expenses $21.96M $20.94M
YoY Change 13.27% 16.6%
Operating Profit $9.845M $9.140M
YoY Change 124.93% 102.44%
Interest Expense -$5.646M $3.946M
YoY Change 62.57% 30.79%
% of Operating Profit -57.35% 43.17%
Other Income/Expense, Net $166.0K -$3.206M
YoY Change 74.74% 11.55%
Pretax Income $1.973M $4.254M
YoY Change -30.77% 167.55%
Income Tax $11.00K $15.00K
% Of Pretax Income 0.56% 0.35%
Net Earnings $1.941M $4.215M
YoY Change -30.31% 200.43%
Net Earnings / Revenue 5.27% 12.41%
Basic Earnings Per Share $0.06
Diluted Earnings Per Share $0.03 $0.06
COMMON SHARES
Basic Shares Outstanding 68.70M shares 66.99M shares
Diluted Shares Outstanding 68.05M shares

Balance Sheet

Concept 2023 Q4 2023 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $29.93M $7.900M
YoY Change -57.57% -51.2%
Cash & Equivalents $29.93M $7.934M
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables $10.07M $9.200M
Other Receivables $123.6M $117.0M
Total Short-Term Assets $163.6M $134.1M
YoY Change 25.88% 85.38%
LONG-TERM ASSETS
Property, Plant & Equipment $1.544B $1.480B
YoY Change 21.72% 24.33%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $57.59M $46.50M
YoY Change 88.5% 56.43%
Total Long-Term Assets $1.783B $1.729B
YoY Change 20.8% 23.37%
TOTAL ASSETS
Total Short-Term Assets $163.6M $134.1M
Total Long-Term Assets $1.783B $1.729B
Total Assets $1.946B $1.863B
YoY Change 21.21% 26.41%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $4.691M $4.000M
YoY Change 236.51% 830.23%
Accrued Expenses $19.43M $23.60M
YoY Change 55.23% 72.89%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $24.12M $27.60M
YoY Change 73.4% 96.02%
LONG-TERM LIABILITIES
Long-Term Debt $609.8M $571.5M
YoY Change 23.39% 39.02%
Other Long-Term Liabilities $38.89M $33.80M
YoY Change -0.71% -13.28%
Total Long-Term Liabilities $648.7M $605.3M
YoY Change 21.62% 34.49%
TOTAL LIABILITIES
Total Short-Term Liabilities $24.12M $27.60M
Total Long-Term Liabilities $648.7M $605.3M
Total Liabilities $672.8M $633.0M
YoY Change 22.94% 36.37%
SHAREHOLDERS EQUITY
Retained Earnings -$112.3M -$100.0M
YoY Change 67.73% 70.23%
Common Stock $732.0K $687.0K
YoY Change 26.21% 25.14%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $1.265B $1.221B
YoY Change
Total Liabilities & Shareholders Equity $1.946B $1.863B
YoY Change 21.21% 26.41%

Cashflow Statement

Concept 2023 Q4 2023 Q3
OPERATING ACTIVITIES
Net Income $1.941M $4.215M
YoY Change -30.31% 200.43%
Depreciation, Depletion And Amortization $17.08M $15.80M
YoY Change 22.52% 17.91%
Cash From Operating Activities $28.65M $17.11M
YoY Change 139.89% 3.97%
INVESTING ACTIVITIES
Capital Expenditures $116.8M $119.1M
YoY Change 13.06% -191.76%
Acquisitions
YoY Change
Other Investing Activities $10.60M -$130.0K
YoY Change -34.39% -100.34%
Cash From Investing Activities -$106.2M -$119.2M
YoY Change 21.85% 29.66%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 99.57M 96.88M
YoY Change -23.16% 34.89%
NET CHANGE
Cash From Operating Activities 28.65M 17.11M
Cash From Investing Activities -106.2M -119.2M
Cash From Financing Activities 99.57M 96.88M
Net Change In Cash 22.00M -5.210M
YoY Change -59.53% 42.35%
FREE CASH FLOW
Cash From Operating Activities $28.65M $17.11M
Capital Expenditures $116.8M $119.1M
Free Cash Flow -$88.18M -$102.0M
YoY Change -3.51% -169.74%

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ntst Accrued Lease Incentives Incurred But Not Yet Received
AccruedLeaseIncentivesIncurredButNotYetReceived
23000 usd
ntst Accrued Lease Incentives Incurred But Not Yet Received
AccruedLeaseIncentivesIncurredButNotYetReceived
1690000 usd
CY2023Q3 ntst Number Of Properties Owned Or Invested
NumberOfPropertiesOwnedOrInvested
547 property
CY2023Q3 us-gaap Number Of States In Which Entity Operates
NumberOfStatesInWhichEntityOperates
45 state
CY2023Q3 ntst Number Of Properties Developed Rent Not Yet Commenced
NumberOfPropertiesDevelopedRentNotYetCommenced
32 property
CY2023Q3 us-gaap Operating Lease Lease Income Lease Payments
OperatingLeaseLeaseIncomeLeasePayments
27999000 usd
CY2022Q3 us-gaap Operating Lease Lease Income Lease Payments
OperatingLeaseLeaseIncomeLeasePayments
21940000 usd
us-gaap Operating Lease Lease Income Lease Payments
OperatingLeaseLeaseIncomeLeasePayments
79530000 usd
us-gaap Operating Lease Lease Income Lease Payments
OperatingLeaseLeaseIncomeLeasePayments
59661000 usd
CY2023Q3 us-gaap Variable Lease Income
VariableLeaseIncome
3047000 usd
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>
CY2023Q3 us-gaap Asset Impairment Charges
AssetImpairmentCharges
1538000 usd
CY2022Q3 us-gaap Asset Impairment Charges
AssetImpairmentCharges
0 usd
us-gaap Asset Impairment Charges
AssetImpairmentCharges
4374000 usd
us-gaap Asset Impairment Charges
AssetImpairmentCharges
1114000 usd
CY2023Q3 ntst Number Of Properties Impaired
NumberOfPropertiesImpaired
0 property
CY2022Q3 ntst Number Of Properties Impaired
NumberOfPropertiesImpaired
0 property
CY2023Q3 ntst Number Of Properties Sold
NumberOfPropertiesSold
2 property
CY2022Q3 ntst Number Of Properties Sold
NumberOfPropertiesSold
0 property
CY2023Q3 us-gaap Impairment Of Long Lived Assets To Be Disposed Of
ImpairmentOfLongLivedAssetsToBeDisposedOf
700000 usd
us-gaap Impairment Of Long Lived Assets To Be Disposed Of
ImpairmentOfLongLivedAssetsToBeDisposedOf
700000 usd
CY2022Q3 us-gaap Variable Lease Income
VariableLeaseIncome
2086000 usd
us-gaap Variable Lease Income
VariableLeaseIncome
9299000 usd
us-gaap Variable Lease Income
VariableLeaseIncome
7004000 usd
CY2023Q3 us-gaap Amortization Of Above And Below Market Leases
AmortizationOfAboveAndBelowMarketLeases
-319000 usd
CY2022Q3 us-gaap Amortization Of Above And Below Market Leases
AmortizationOfAboveAndBelowMarketLeases
-444000 usd
us-gaap Amortization Of Above And Below Market Leases
AmortizationOfAboveAndBelowMarketLeases
-1108000 usd
us-gaap Amortization Of Above And Below Market Leases
AmortizationOfAboveAndBelowMarketLeases
-1021000 usd
CY2023Q3 ntst Lease Incentives Income
LeaseIncentivesIncome
-198000 usd
CY2023Q3 us-gaap Restricted Cash
RestrictedCash
100000 usd
CY2022Q4 us-gaap Restricted Cash
RestrictedCash
4700000 usd
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>
us-gaap Number Of Reportable Segments
NumberOfReportableSegments
1 segment
ntst Lessor Operating Lease Remaining Lease Term
LessorOperatingLeaseRemainingLeaseTerm
P9Y3M18D
ntst Lessor Operating Lease Remaining Lease Term
LessorOperatingLeaseRemainingLeaseTerm
P9Y3M18D
CY2022Q3 ntst Lease Incentives Income
LeaseIncentivesIncome
-131000 usd
ntst Lease Incentives Income
LeaseIncentivesIncome
-590000 usd
ntst Lease Incentives Income
LeaseIncentivesIncome
-377000 usd
CY2023Q3 us-gaap Lease Income
LeaseIncome
31167000 usd
CY2022Q3 us-gaap Lease Income
LeaseIncome
24339000 usd
us-gaap Lease Income
LeaseIncome
89347000 usd
us-gaap Lease Income
LeaseIncome
67309000 usd
CY2023Q3 us-gaap Lessor Operating Lease Payments To Be Received Remainder Of Fiscal Year
LessorOperatingLeasePaymentsToBeReceivedRemainderOfFiscalYear
28258000 usd
CY2023Q3 us-gaap Lessor Operating Lease Payments To Be Received Next Twelve Months
LessorOperatingLeasePaymentsToBeReceivedNextTwelveMonths
113546000 usd
CY2023Q3 us-gaap Lessor Operating Lease Payments To Be Received Two Years
LessorOperatingLeasePaymentsToBeReceivedTwoYears
113399000 usd
CY2023Q3 us-gaap Lessor Operating Lease Payments To Be Received Three Years
LessorOperatingLeasePaymentsToBeReceivedThreeYears
110786000 usd
CY2023Q3 us-gaap Lessor Operating Lease Payments To Be Received Four Years
LessorOperatingLeasePaymentsToBeReceivedFourYears
106751000 usd
CY2023Q3 ntst Lessor Operating Lease Payment To Be Received After Year Four
LessorOperatingLeasePaymentToBeReceivedAfterYearFour
611894000 usd
CY2023Q3 us-gaap Lessor Operating Lease Payments To Be Received
LessorOperatingLeasePaymentsToBeReceived
1084634000 usd
CY2023Q3 us-gaap Operating Lease Cost
OperatingLeaseCost
135000 usd
CY2022Q3 us-gaap Operating Lease Cost
OperatingLeaseCost
135000 usd
us-gaap Operating Lease Cost
OperatingLeaseCost
406000 usd
us-gaap Operating Lease Cost
OperatingLeaseCost
406000 usd
CY2023Q3 us-gaap Variable Lease Cost
VariableLeaseCost
83000 usd
CY2022Q3 us-gaap Variable Lease Cost
VariableLeaseCost
33000 usd
us-gaap Variable Lease Cost
VariableLeaseCost
217000 usd
us-gaap Variable Lease Cost
VariableLeaseCost
42000 usd
CY2023Q3 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
4000000 usd
CY2023Q3 us-gaap Operating Lease Liability
OperatingLeaseLiability
5200000 usd
CY2023Q3 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
146000 usd
CY2023Q3 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
617000 usd
CY2023Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
636000 usd
CY2023Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
653000 usd
CY2023Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
670000 usd
CY2023Q3 ntst Lessee Operating Lease Liability To Be Paid After Year Four
LesseeOperatingLeaseLiabilityToBePaidAfterYearFour
3311000 usd
CY2023Q3 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
6033000 usd
CY2023Q3 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
825000 usd
CY2023Q3 us-gaap Operating Lease Liability
OperatingLeaseLiability
5208000 usd
CY2023Q3 us-gaap Lessee Operating Lease Discount Rate
LesseeOperatingLeaseDiscountRate
0.0325
CY2023Q3 ntst Number Of Properties Owned Or Invested
NumberOfPropertiesOwnedOrInvested
547 property
CY2023Q3 ntst Number Of Properties Developed Rent Not Yet Commenced
NumberOfPropertiesDevelopedRentNotYetCommenced
32 property
CY2023Q3 us-gaap Real Estate Investments
RealEstateInvestments
1800000000 usd
CY2023Q3 us-gaap Number Of States In Which Entity Operates
NumberOfStatesInWhichEntityOperates
45 state
CY2023Q3 ntst Asset Acquisition Additions
AssetAcquisitionAdditions
95311000 usd
CY2022Q3 ntst Asset Acquisition Additions
AssetAcquisitionAdditions
134044000 usd
ntst Asset Acquisition Additions
AssetAcquisitionAdditions
259245000 usd
ntst Asset Acquisition Additions
AssetAcquisitionAdditions
347673000 usd
CY2023Q3 ntst Asset Acquisition Below Market Lease
AssetAcquisitionBelowMarketLease
0 usd
CY2022Q3 ntst Asset Acquisition Below Market Lease
AssetAcquisitionBelowMarketLease
4418000 usd
ntst Asset Acquisition Below Market Lease
AssetAcquisitionBelowMarketLease
0 usd
ntst Asset Acquisition Below Market Lease
AssetAcquisitionBelowMarketLease
10734000 usd
CY2023Q3 ntst Asset Acquisition Noncurrent Liabilities Long Term Debt
AssetAcquisitionNoncurrentLiabilitiesLongTermDebt
0 usd
CY2022Q3 ntst Asset Acquisition Noncurrent Liabilities Long Term Debt
AssetAcquisitionNoncurrentLiabilitiesLongTermDebt
7913000 usd
ntst Asset Acquisition Noncurrent Liabilities Long Term Debt
AssetAcquisitionNoncurrentLiabilitiesLongTermDebt
0 usd
ntst Asset Acquisition Noncurrent Liabilities Long Term Debt
AssetAcquisitionNoncurrentLiabilitiesLongTermDebt
7913000 usd
CY2023Q3 ntst Asset Acquisition Accounts Payable And Accrued Liabilities
AssetAcquisitionAccountsPayableAndAccruedLiabilities
0 usd
CY2022Q3 ntst Asset Acquisition Accounts Payable And Accrued Liabilities
AssetAcquisitionAccountsPayableAndAccruedLiabilities
16000 usd
ntst Asset Acquisition Accounts Payable And Accrued Liabilities
AssetAcquisitionAccountsPayableAndAccruedLiabilities
0 usd
ntst Asset Acquisition Accounts Payable And Accrued Liabilities
AssetAcquisitionAccountsPayableAndAccruedLiabilities
40000 usd
CY2023Q3 ntst Asset Acquisition Assets Acquired And Liabilities Assumed Net
AssetAcquisitionAssetsAcquiredAndLiabilitiesAssumedNet
95311000 usd
CY2022Q3 ntst Asset Acquisition Assets Acquired And Liabilities Assumed Net
AssetAcquisitionAssetsAcquiredAndLiabilitiesAssumedNet
121697000 usd
ntst Asset Acquisition Assets Acquired And Liabilities Assumed Net
AssetAcquisitionAssetsAcquiredAndLiabilitiesAssumedNet
259245000 usd
ntst Asset Acquisition Assets Acquired And Liabilities Assumed Net
AssetAcquisitionAssetsAcquiredAndLiabilitiesAssumedNet
328986000 usd
ntst Number Of Property Developments Under Construction
NumberOfPropertyDevelopmentsUnderConstruction
27 property
CY2023Q3 us-gaap Payments To Develop Real Estate Assets
PaymentsToDevelopRealEstateAssets
33200000 usd
CY2023Q3 ntst Number Of Property Developments Under Construction
NumberOfPropertyDevelopmentsUnderConstruction
14 property
CY2023Q3 us-gaap Payments To Acquire Real Estate
PaymentsToAcquireRealEstate
9600000 usd
ntst Number Of Properties Developed
NumberOfPropertiesDeveloped
12 property
us-gaap Property Plant And Equipment Transfers And Changes
PropertyPlantAndEquipmentTransfersAndChanges
38800000 usd
ntst Number Of Properties Developed Rent Commenced
NumberOfPropertiesDevelopedRentCommenced
7 property
ntst Number Of Properties Developed
NumberOfPropertiesDeveloped
12 property
ntst Number Of Property Developments Under Construction
NumberOfPropertyDevelopmentsUnderConstruction
27 property
CY2022Q3 us-gaap Payments To Acquire Real Estate Held For Investment
PaymentsToAcquireRealEstateHeldForInvestment
4700000 usd
us-gaap Payments To Develop Real Estate Assets
PaymentsToDevelopRealEstateAssets
14300000 usd
CY2023Q3 us-gaap Loans And Leases Receivable Gross Carrying Amount
LoansAndLeasesReceivableGrossCarryingAmount
109095000 usd
CY2022Q4 us-gaap Loans And Leases Receivable Gross Carrying Amount
LoansAndLeasesReceivableGrossCarryingAmount
46316000 usd
CY2023Q3 ntst Unamortized Loan Commitment And Origination Fees
UnamortizedLoanCommitmentAndOriginationFees
-124000 usd
CY2022Q4 ntst Unamortized Loan Commitment And Origination Fees
UnamortizedLoanCommitmentAndOriginationFees
-62000 usd
CY2023Q3 ntst Unamortized Discounts Or Premiums
UnamortizedDiscountsOrPremiums
128000 usd
CY2022Q4 ntst Unamortized Discounts Or Premiums
UnamortizedDiscountsOrPremiums
0 usd
CY2023Q3 us-gaap Loans And Leases Receivable Net Of Deferred Income
LoansAndLeasesReceivableNetOfDeferredIncome
109091000 usd
CY2022Q4 us-gaap Loans And Leases Receivable Net Of Deferred Income
LoansAndLeasesReceivableNetOfDeferredIncome
46378000 usd
CY2023Q3 ntst Number Of Real Estate Properties Held For Sale
NumberOfRealEstatePropertiesHeldForSale
15 property
CY2022Q4 ntst Number Of Real Estate Properties Held For Sale
NumberOfRealEstatePropertiesHeldForSale
11 property
CY2022Q3 us-gaap Asset Impairment Charges
AssetImpairmentCharges
0 usd
CY2023Q3 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
210587000 usd
CY2023Q3 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
46763000 usd
CY2023Q3 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
163824000 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
CY2023Q3 us-gaap Below Market Lease Gross
BelowMarketLeaseGross
33959000 usd
CY2023Q3 us-gaap Below Market Lease Accumulated Amortization
BelowMarketLeaseAccumulatedAmortization
7260000 usd
CY2023Q3 us-gaap Below Market Lease Net
BelowMarketLeaseNet
26699000 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
CY2023Q3 ntst Net Adjustment To Rental Revenue Year Two
NetAdjustmentToRentalRevenueYearTwo
343000 usd
CY2023Q3 ntst Net Adjustment To Rental Revenue Year Three
NetAdjustmentToRentalRevenueYearThree
289000 usd
CY2023Q3 ntst Net Adjustment To Rental Revenue Year Four
NetAdjustmentToRentalRevenueYearFour
361000 usd
CY2023Q3 ntst Net Adjustment To Rental Revenue After Year Four
NetAdjustmentToRentalRevenueAfterYearFour
-794000 usd
CY2023Q3 ntst Net Adjustment To Rental Revenue Net
NetAdjustmentToRentalRevenueNet
655000 usd
CY2023Q3 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
575399000 usd
CY2022Q4 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
496498000 usd
CY2023Q3 us-gaap Debt Instrument Unamortized Discount Premium And Debt Issuance Costs Net
DebtInstrumentUnamortizedDiscountPremiumAndDebtIssuanceCostsNet
3896000 usd
CY2023Q3 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
4641000 usd
CY2022Q3 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
4274000 usd
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
14120000 usd
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
11709000 usd
CY2023Q3 us-gaap Amortization Of Below Market Lease
AmortizationOfBelowMarketLease
717000 usd
CY2022Q3 us-gaap Amortization Of Below Market Lease
AmortizationOfBelowMarketLease
787000 usd
us-gaap Amortization Of Below Market Lease
AmortizationOfBelowMarketLease
2266000 usd
us-gaap Amortization Of Below Market Lease
AmortizationOfBelowMarketLease
2024000 usd
CY2023Q3 ntst Net Adjustment To Rental Revenue
NetAdjustmentToRentalRevenue
121000 usd
CY2022Q3 ntst Net Adjustment To Rental Revenue
NetAdjustmentToRentalRevenue
313000 usd
ntst Net Adjustment To Rental Revenue
NetAdjustmentToRentalRevenue
517000 usd
ntst Net Adjustment To Rental Revenue
NetAdjustmentToRentalRevenue
644000 usd
CY2023Q3 us-gaap Below Market Lease Amortization Income Remainder Of Fiscal Year
BelowMarketLeaseAmortizationIncomeRemainderOfFiscalYear
715000 usd
CY2023Q3 us-gaap Below Market Lease Amortization Income Next Twelve Months
BelowMarketLeaseAmortizationIncomeNextTwelveMonths
2854000 usd
CY2023Q3 us-gaap Below Market Lease Amortization Income Year Two
BelowMarketLeaseAmortizationIncomeYearTwo
2832000 usd
CY2023Q3 us-gaap Below Market Lease Amortization Income Year Three
BelowMarketLeaseAmortizationIncomeYearThree
2740000 usd
CY2023Q3 us-gaap Below Market Lease Amortization Income Year Four
BelowMarketLeaseAmortizationIncomeYearFour
2668000 usd
CY2023Q3 ntst Below Market Lease Amortization Income After Year Four
BelowMarketLeaseAmortizationIncomeAfterYearFour
14890000 usd
CY2023Q3 us-gaap Below Market Lease Net
BelowMarketLeaseNet
26699000 usd
CY2023Q3 ntst Net Adjustment To Rental Revenue Remainder Of Fiscal Year
NetAdjustmentToRentalRevenueRemainderOfFiscalYear
92000 usd
CY2023Q3 ntst Net Adjustment To Rental Revenue Year One
NetAdjustmentToRentalRevenueYearOne
364000 usd
CY2022Q4 us-gaap Debt Instrument Unamortized Discount Premium And Debt Issuance Costs Net
DebtInstrumentUnamortizedDiscountPremiumAndDebtIssuanceCostsNet
2306000 usd
CY2023Q3 us-gaap Deferred Finance Costs Net
DeferredFinanceCostsNet
2128000 usd
CY2022Q4 us-gaap Deferred Finance Costs Net
DeferredFinanceCostsNet
2684000 usd
CY2023Q3 us-gaap Long Term Debt
LongTermDebt
569375000 usd
CY2022Q4 us-gaap Long Term Debt
LongTermDebt
491508000 usd
CY2023Q3 us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
264000 usd
CY2022Q3 us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
153000 usd
us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
635000 usd
us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
354000 usd
CY2023Q3 us-gaap Amortization Of Debt Discount Premium
AmortizationOfDebtDiscountPremium
315000 usd
CY2022Q3 us-gaap Amortization Of Debt Discount Premium
AmortizationOfDebtDiscountPremium
86000 usd
us-gaap Amortization Of Debt Discount Premium
AmortizationOfDebtDiscountPremium
616000 usd
us-gaap Amortization Of Debt Discount Premium
AmortizationOfDebtDiscountPremium
199000 usd
CY2023Q3 us-gaap Amortization Of Deferred Hedge Gains
AmortizationOfDeferredHedgeGains
-1134000 usd
CY2022Q3 us-gaap Amortization Of Deferred Hedge Gains
AmortizationOfDeferredHedgeGains
0 usd
us-gaap Amortization Of Deferred Hedge Gains
AmortizationOfDeferredHedgeGains
-1134000 usd
us-gaap Amortization Of Deferred Hedge Gains
AmortizationOfDeferredHedgeGains
0 usd
CY2023Q3 us-gaap Interest Costs Capitalized
InterestCostsCapitalized
404000 usd
CY2022Q3 us-gaap Interest Costs Capitalized
InterestCostsCapitalized
115000 usd
us-gaap Interest Costs Capitalized
InterestCostsCapitalized
688000 usd
us-gaap Interest Costs Capitalized
InterestCostsCapitalized
218000 usd
CY2023Q3 us-gaap Interest Expense Debt
InterestExpenseDebt
3946000 usd
CY2022Q3 us-gaap Interest Expense Debt
InterestExpenseDebt
3017000 usd
us-gaap Interest Expense Debt
InterestExpenseDebt
13412000 usd
us-gaap Interest Expense Debt
InterestExpenseDebt
5708000 usd
CY2023Q3 ntst Op Unit Conversion Ratio
OPUnitConversionRatio
1
CY2023Q3 ntst Op Unit Conversion Ratio
OPUnitConversionRatio
1
CY2023Q3 ntst Op Unit Conversion Ratio
OPUnitConversionRatio
1
CY2023Q3 us-gaap Accounts Receivable Net
AccountsReceivableNet
9195000 usd
CY2022Q4 us-gaap Accounts Receivable Net
AccountsReceivableNet
7167000 usd
CY2023Q3 us-gaap Deferred Rent Receivables Net
DeferredRentReceivablesNet
7192000 usd
CY2022Q4 us-gaap Deferred Rent Receivables Net
DeferredRentReceivablesNet
5629000 usd
CY2023Q3 us-gaap Prepaid Expense Current And Noncurrent
PrepaidExpenseCurrentAndNoncurrent
4058000 usd
CY2022Q4 us-gaap Prepaid Expense Current And Noncurrent
PrepaidExpenseCurrentAndNoncurrent
3864000 usd
CY2023Q3 us-gaap Earnest Money Deposits
EarnestMoneyDeposits
2716000 usd
CY2022Q4 us-gaap Earnest Money Deposits
EarnestMoneyDeposits
185000 usd
CY2023Q3 us-gaap Derivative Assets
DerivativeAssets
32077000 usd
CY2022Q4 us-gaap Derivative Assets
DerivativeAssets
24067000 usd
CY2023Q3 us-gaap Deferred Offering Costs
DeferredOfferingCosts
664000 usd
CY2022Q4 us-gaap Deferred Offering Costs
DeferredOfferingCosts
796000 usd
CY2023Q3 us-gaap Debt Issuance Costs Line Of Credit Arrangements Net
DebtIssuanceCostsLineOfCreditArrangementsNet
2988000 usd
CY2022Q4 us-gaap Debt Issuance Costs Line Of Credit Arrangements Net
DebtIssuanceCostsLineOfCreditArrangementsNet
2685000 usd
CY2023Q3 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
3959000 usd
CY2022Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
4235000 usd
CY2023Q3 us-gaap Leasehold Improvements Gross
LeaseholdImprovementsGross
1781000 usd
CY2022Q4 us-gaap Leasehold Improvements Gross
LeaseholdImprovementsGross
1969000 usd
CY2023Q3 us-gaap Interest Receivable
InterestReceivable
766000 usd
CY2022Q4 us-gaap Interest Receivable
InterestReceivable
256000 usd
CY2023Q3 us-gaap Other Assets Miscellaneous
OtherAssetsMiscellaneous
4007000 usd
CY2022Q4 us-gaap Other Assets Miscellaneous
OtherAssetsMiscellaneous
1204000 usd
CY2023Q3 us-gaap Other Assets
OtherAssets
69403000 usd
CY2022Q4 us-gaap Other Assets
OtherAssets
52057000 usd
CY2023Q3 us-gaap Accrued Liabilities Current And Noncurrent
AccruedLiabilitiesCurrentAndNoncurrent
11221000 usd
CY2022Q4 us-gaap Accrued Liabilities Current And Noncurrent
AccruedLiabilitiesCurrentAndNoncurrent
5745000 usd
CY2023Q3 us-gaap Accrued Bonuses Current And Noncurrent
AccruedBonusesCurrentAndNoncurrent
1890000 usd
CY2022Q4 us-gaap Accrued Bonuses Current And Noncurrent
AccruedBonusesCurrentAndNoncurrent
1305000 usd
CY2023Q3 us-gaap Advance Rent
AdvanceRent
3929000 usd
CY2022Q4 us-gaap Advance Rent
AdvanceRent
2937000 usd
CY2023Q3 us-gaap Operating Lease Liability
OperatingLeaseLiability
5208000 usd
CY2022Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
5464000 usd
CY2023Q3 us-gaap Interest Payable Current And Noncurrent
InterestPayableCurrentAndNoncurrent
2436000 usd
CY2022Q4 us-gaap Interest Payable Current And Noncurrent
InterestPayableCurrentAndNoncurrent
1782000 usd
CY2023Q3 us-gaap Deferred Rent Credit
DeferredRentCredit
2882000 usd
CY2022Q4 us-gaap Deferred Rent Credit
DeferredRentCredit
1756000 usd
CY2023Q3 us-gaap Accounts Payable Current And Noncurrent
AccountsPayableCurrentAndNoncurrent
3968000 usd
CY2022Q4 us-gaap Accounts Payable Current And Noncurrent
AccountsPayableCurrentAndNoncurrent
1394000 usd
CY2023Q3 us-gaap Other Liabilities
OtherLiabilities
2193000 usd
CY2022Q4 us-gaap Other Liabilities
OtherLiabilities
2157000 usd
CY2023Q3 us-gaap Accounts Payable And Accrued Liabilities Current And Noncurrent
AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent
33727000 usd
CY2022Q4 us-gaap Accounts Payable And Accrued Liabilities Current And Noncurrent
AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent
22540000 usd
CY2022Q3 us-gaap Sale Of Stock Price Per Share
SaleOfStockPricePerShare
20.20
CY2023Q1 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.200
CY2023Q1 us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
0.200
CY2023Q1 us-gaap Dividends Common Stock Cash
DividendsCommonStockCash
11650000 usd
CY2023Q2 us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
0.200
CY2023Q2 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.200
CY2023Q2 us-gaap Dividends Common Stock Cash
DividendsCommonStockCash
12173000 usd
CY2023Q3 us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
0.205
CY2023Q3 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.205
CY2023Q3 us-gaap Dividends Common Stock Cash
DividendsCommonStockCash
13768000 usd
us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
0.605
us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.605
us-gaap Dividends Common Stock Cash
DividendsCommonStockCash
37591000 usd
CY2022Q1 us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
0.200
CY2022Q1 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.200
CY2022Q1 us-gaap Dividends Common Stock Cash
DividendsCommonStockCash
8888000 usd
CY2022Q2 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.200
CY2022Q2 us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
0.200
CY2022Q2 us-gaap Dividends Common Stock Cash
DividendsCommonStockCash
9588000 usd
CY2022Q3 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.200
CY2022Q3 us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
0.200
CY2022Q3 us-gaap Dividends Common Stock Cash
DividendsCommonStockCash
10073000 usd
us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
0.600
us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.600
us-gaap Dividends Common Stock Cash
DividendsCommonStockCash
28549000 usd
us-gaap Payments Of Dividends Minority Interest
PaymentsOfDividendsMinorityInterest
300000 usd
us-gaap Payments Of Dividends Minority Interest
PaymentsOfDividendsMinorityInterest
300000 usd
CY2023Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Authorized
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized
2094976 shares
CY2023Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
1300000 usd
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
3600000 usd
CY2020Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Accelerated Compensation Cost
ShareBasedCompensationArrangementByShareBasedPaymentAwardAcceleratedCompensationCost
1400000 usd
CY2023Q3 ntst Op Unit Conversion Ratio
OPUnitConversionRatio
1
CY2023Q3 us-gaap Profit Loss
ProfitLoss
4239000 usd
CY2022Q3 us-gaap Profit Loss
ProfitLoss
1419000 usd
us-gaap Profit Loss
ProfitLoss
4928000 usd
us-gaap Profit Loss
ProfitLoss
5395000 usd
CY2023Q3 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
24000 usd
CY2022Q3 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
16000 usd
us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
32000 usd
us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
63000 usd
CY2023Q3 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
4215000 usd
CY2022Q3 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
1403000 usd
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
4896000 usd
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
5332000 usd
CY2023Q3 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
24000 usd
CY2022Q3 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
16000 usd
us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
32000 usd
us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
63000 usd
CY2023Q3 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
4239000 usd
CY2022Q3 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
1419000 usd
us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
4928000 usd
us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
5395000 usd
CY2023Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
67112587 shares
CY2022Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
50449735 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
62123334 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
47679870 shares
CY2023Q3 ntst Incremental Common Shares Attributable To Dilutive Effect Of Op Units
IncrementalCommonSharesAttributableToDilutiveEffectOfOPUnits
501987 shares
CY2022Q3 ntst Incremental Common Shares Attributable To Dilutive Effect Of Op Units
IncrementalCommonSharesAttributableToDilutiveEffectOfOPUnits
514890 shares
ntst Incremental Common Shares Attributable To Dilutive Effect Of Op Units
IncrementalCommonSharesAttributableToDilutiveEffectOfOPUnits
507014 shares
ntst Incremental Common Shares Attributable To Dilutive Effect Of Op Units
IncrementalCommonSharesAttributableToDilutiveEffectOfOPUnits
530940 shares
CY2023Q3 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
173001 shares
CY2022Q3 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
255613 shares
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
167215 shares
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
261727 shares
CY2023Q3 us-gaap Incremental Common Shares Attributable To Equity Forward Agreements
IncrementalCommonSharesAttributableToEquityForwardAgreements
260794 shares
CY2022Q3 us-gaap Incremental Common Shares Attributable To Equity Forward Agreements
IncrementalCommonSharesAttributableToEquityForwardAgreements
164520 shares
us-gaap Incremental Common Shares Attributable To Equity Forward Agreements
IncrementalCommonSharesAttributableToEquityForwardAgreements
100394 shares
us-gaap Incremental Common Shares Attributable To Equity Forward Agreements
IncrementalCommonSharesAttributableToEquityForwardAgreements
184512 shares
CY2023Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
68048369 shares
CY2022Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
51384758 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
62897957 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
48657049 shares
CY2023Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.06
CY2022Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.03
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.08
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.11
CY2023Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.06
CY2022Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.03
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.08
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.11
CY2023Q3 ntst Tenant Improvement Allowance Commitment
TenantImprovementAllowanceCommitment
4100000 usd
CY2023Q3 ntst Tenant Improvement Allowance Commitment Period
TenantImprovementAllowanceCommitmentPeriod
P2Y
ntst Number Of Property Developments Under Construction
NumberOfPropertyDevelopmentsUnderConstruction
27 property

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