NetSTREIT (NTST) concentration risks

The company's concentration profile is geographically oriented, with the portfolio tilted toward the South and Midwest regions of the United States. Based on annualized base rent (ABR) as of December 31, 2025, the South accounted for 49.5% and the Midwest for 28.0% of portfolio holdings, together representing a medium-share geographic concentration in each region by disclosed size. Both exposures are structural in character — they reflect deliberate market selection within a net-lease strategy rather than a temporary skew or counterparty dependency. Within those broad regions, Texas is the largest disclosed state at 17.3% of ABR, a low-share concentration. The remaining disclosed state-level positions — Illinois at 8.3%, New York at 6.9%, Georgia at 5.0%, Wisconsin at 4.9%, and North Carolina at 4.0% — are individually modest contributors. The combination of two medium-share regional concentrations and several small state-level tilts produces a portfolio whose results are most sensitive to economic and demographic conditions across the Sun Belt and Midwest rather than any single market. There is no disclosed customer or counterparty concentration. On balance, the geographic profile is well diversified at the state level, with the principal concentration risk being the regional orientation toward the South and Midwest rather than any pinpointed single-market exposure.

For the engine’s reasoning on NTST’s current verdict — including which dimensions drove the score — see the per-dimension breakdown.

Concentration counts reflect items disclosed in each peer’s most recent 10-K; disclosed-size classification uses TrendMatrix’s internal 10-K extraction taxonomy.