Earnings summaries and quarterly performance for Broadstone Net Lease.
Executive leadership at Broadstone Net Lease.
John D. Moragne
Detailed
Chief Executive Officer
CEO
Jennie O'Brien
Detailed
Senior Vice President and Chief Accounting Officer
John D. Callan, Jr.
Detailed
Senior Vice President, General Counsel, and Secretary
Kevin M. Fennell
Detailed
Executive Vice President, Chief Financial Officer, and Treasurer
Michael B. Caruso
Detailed
Senior Vice President, Underwriting and Strategy
Molly Kelly Wiegel
Detailed
Senior Vice President, Human Resources and Administration
Ryan M. Albano
Detailed
President and Chief Operating Officer
William D. Garner
Detailed
Senior Vice President, Acquisitions
Board of directors at Broadstone Net Lease.
Research analysts who have asked questions during Broadstone Net Lease earnings calls.
Caitlin Burrows
Goldman Sachs
8 questions for BNL
Also covers: ALX, BRX, BXP +19 more
Upal Rana
KeyBanc Capital Markets
7 questions for BNL
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Anthony Paolone
JPMorgan Chase & Co.
6 questions for BNL
Also covers: ARE, BDN, BXP +29 more
Eric Borden
BMO Capital Markets
6 questions for BNL
Also covers: ADC, EGP, EPRT +5 more
Ronald Kamdem
Morgan Stanley
6 questions for BNL
Also covers: AAT, ADC, AHR +36 more
Jay Kornreich
Wedbush Securities
5 questions for BNL
Also covers: APLE, EPRT, GLPI +6 more
Ryan Caviola
Green Street
5 questions for BNL
Also covers: EPRT, O, WPC
Ki Bin Kim
Truist Securities
4 questions for BNL
Also covers: ADC, AKR, BRX +20 more
Michael Goldsmith
UBS
4 questions for BNL
Also covers: ADC, AHR, AMH +33 more
Michael Gorman
BTG Pactual
3 questions for BNL
Also covers: CSR, CTO, ELME +13 more
Spenser Allaway
Green Street
3 questions for BNL
Also covers: ADC, CUBE, EPR +6 more
John Kim
BMO Capital Markets
2 questions for BNL
Also covers: AIV, ALX, ARDX +32 more
Recent press releases and 8-K filings for BNL.
Broadstone Net Lease, Inc. Provides 2026 Guidance and Strategic Updates
BNL
Guidance Update
New Projects/Investments
- Broadstone Net Lease, Inc. (BNL) provided 2026 guidance for Adjusted Funds From Operations (AFFO) per share between $1.53 and $1.57, representing a 4.0% growth at the midpoint, with total investments projected at $500 million to $625 million and dispositions at $75 million to $100 million. The 2025 guidance remains unchanged, with AFFO per share expected to be $1.49 to $1.50.
- The company has significantly repositioned its portfolio, reducing clinical healthcare exposure to 2.4% by September 30, 2025, from 17.3% on March 31, 2023, and successfully selling 57 clinical healthcare assets for $352 million in 2024. This strategic shift has increased the industrial segment to 61.2% of Annualized Base Rent (ABR) as of September 30, 2025.
- BNL has developed and scaled a build-to-suit (BTS) development strategy, committing or completing $898 million to BTS developments since 2023, including $583 million in new commitments in 2025, which is expected to generate $29.1 million in incremental ABR through Q1 2027.
7 days ago
Broadstone Net Lease, Inc. Provides Business Update and Issues 2026 Guidance
BNL
Guidance Update
New Projects/Investments
- Broadstone Net Lease, Inc. (BNL) provided a business update through December 1, 2025, reporting year-to-date investments of $696.7 million, which includes $416.6 million in new property acquisitions and $181.8 million in build-to-suit developments.
- The company maintained its 2025 Adjusted Funds From Operations (AFFO) guidance at $1.49 to $1.50 per share, representing 4.2% to 4.9% growth.
- BNL issued initial 2026 AFFO guidance of $1.53 to $1.57 per diluted share, projecting approximately 4.0% growth at the midpoint.
- Key assumptions for 2026 include real estate investments between $500 million and $625 million and dispositions between $75 million and $100 million.
7 days ago
Broadstone Net Lease Reports Strong 2025 Investment Activity and Provides 2026 Guidance
BNL
Guidance Update
New Projects/Investments
M&A
- Broadstone Net Lease (BNL) deployed nearly $700 million in property acquisitions and development in 2025, focusing on single-tenant commercial real estate.
- The company reaffirmed its 2025 adjusted funds from operations (AFFO) guidance of $1.49 to $1.50 per share and projected 2026 AFFO between $1.53 and $1.57 per share.
- BNL anticipates $500 million to $625 million in property investments and $75 million to $100 million in asset sales for 2026, while strategically reducing its clinical healthcare exposure to 2.4%.
- Market analysts upgraded BNL's rating from "sell" to "hold," maintaining a consensus moderate buy rating.
7 days ago
Broadstone Net Lease Completes First Sierra Nevada MRO Facility and Adds New Build-to-Suit Projects
BNL
New Projects/Investments
- Broadstone Net Lease, Inc. (BNL) announced the substantial completion of the first MRO facility at Dayton International Airport for Sierra Nevada Corporation, with rent commencing on November 1, 2025.
- BNL has also begun construction on two new build-to-suit developments for Hobby Lobby and Academy Sports, adding $21 million to its committed pipeline.
- These new developments are projected to deliver in the third and fourth quarters of 2026.
Nov 4, 2025, 9:13 PM
Broadstone Net Lease Reports Strong Q3 2025 Results and Raises Full-Year Guidance
BNL
Earnings
Guidance Update
New Projects/Investments
- Broadstone Net Lease (BNL) reported a 5.7% increase in quarterly Adjusted Funds From Operations (AFFO) per share compared to Q3 2024, reaching $0.37 per share for Q3 2025, and collected 100% of rents.
- BNL raised its full-year 2025 AFFO per share guidance to a range of $1.49-$1.50, representing 4.2%-4.9% growth. The investment volume guidance was also increased by $100 million at the midpoint, now projected between $650 million and $750 million.
- Year-to-date, BNL invested $552.6 million, including $353.4 million in new property acquisitions and $150.2 million in build-to-suit developments. Q3 acquisitions had a weighted average initial cash cap rate of 7.1% and a straight-line yield of 8.2%.
- BNL successfully completed a public offering of $350 million of 5% senior unsecured notes due 2032, which was nearly 7x oversubscribed. The Board of Directors also approved a $0.29 dividend per share payable by January 15, 2026.
Oct 30, 2025, 3:00 PM
Broadstone Net Lease Reports Strong Q3 2025 Results and Raises Full-Year Guidance
BNL
Earnings
Guidance Update
New Projects/Investments
- Broadstone Net Lease reported Q3 2025 adjusted funds from operations (AFFO) of $0.37 per share, marking a 5.7% increase over Q3 2024.
- The company raised its full-year 2025 AFFO per share guidance to $1.49 to $1.50, representing 4.2% to 4.9% growth for the year.
- In Q3 2025, BNL invested $204 million in acquisitions and development projects, bringing the year-to-date total to $552.6 million. The full-year 2025 investment volume guidance was increased to between $650 million and $750 million.
- BNL successfully returned to the investment grade bond market, completing a public offering of $350 million of 5% senior unsecured notes due 2032, which was nearly seven times oversubscribed.
- The Board of Directors approved a $0.29 dividend per share for Q3 2025, payable by January 15, 2026, to holders of record as of December 31, 2025.
Oct 30, 2025, 3:00 PM
BNL Reports Strong Q3 2025 Results, Raises Full-Year Guidance, and Completes Debt Offering
BNL
Earnings
Guidance Update
New Projects/Investments
- Broadstone Net Lease reported Q3 2025 Adjusted Funds From Operations (AFFO) of $0.37 per share, marking a 5.7% increase over Q3 2024, and achieved 100% rent collection for the quarter.
- The company raised its full-year 2025 AFFO per share guidance to $1.49 to $1.50, reflecting 4.2% to 4.9% growth, and increased its investment volume guidance to $650 million to $750 million.
- BNL invested $204 million in Q3 2025, contributing to $552.6 million in year-to-date investments, and successfully resolved the At Home and Claire's situations with all leases assumed and no bad debt incurred.
Oct 30, 2025, 3:00 PM
Broadstone Net Lease Announces Third Quarter 2025 Results
BNL
Earnings
Guidance Update
Debt Issuance
- Broadstone Net Lease reported adjusted funds from operations (AFFO) of $0.37 per diluted share for the third quarter ended September 30, 2025, representing a 5.7% increase compared to the same period in the previous year.
- The company raised its full-year AFFO per share guidance to $1.49 to $1.50, which represents 4.2% to 4.9% growth for the year.
- During Q3 2025, BNL invested $203.9 million, including $139.5 million in new property acquisitions, and collected 100.0% of base rents with a 99.5% leased portfolio.
- BNL completed a public offering of $350.0 million in 5.00% senior unsecured notes due 2032 on September 26, 2025.
Oct 29, 2025, 8:15 PM
Broadstone Net Lease Announces Strong Third Quarter 2025 Results and Raises Full-Year Guidance
BNL
Earnings
Guidance Update
New Projects/Investments
- Broadstone Net Lease (BNL) reported Adjusted Funds From Operations (AFFO) of $0.37 per diluted share for the third quarter of 2025, representing a 5.7% increase compared to the same period in the prior year.
- The company raised its full-year 2025 AFFO guidance to a range of $1.49 to $1.50 per diluted share, indicating 4.2% to 4.9% growth for the year.
- BNL invested $203.9 million in acquisitions and development projects during Q3 2025, bringing the total year-to-date investment activity to $552.6 million through October 24, 2025.
- The portfolio demonstrated strong operational performance with 100.0% of base rents collected and a 99.5% lease occupancy rate for the quarter ended September 30, 2025.
- BNL completed a public offering of $350.0 million 5.00% senior unsecured notes due in 2032 and declared a quarterly dividend of $0.29 per share.
Oct 29, 2025, 8:10 PM
Broadstone Net Lease, LLC Closes $350 Million Senior Notes Offering
BNL
Debt Issuance
- Broadstone Net Lease, LLC, with Broadstone Net Lease, Inc. as parent guarantor, closed an underwritten public offering of $350 million aggregate principal amount of 5.000% Senior Notes due 2032 on September 26, 2025.
- The Notes bear an interest rate of 5.000% per annum, with interest payable semi-annually, and have a maturity date of November 1, 2032.
- The Notes are fully and unconditionally guaranteed by Broadstone Net Lease, Inc. and are senior unsecured obligations.
- The indenture for the Notes includes restrictive covenants, notably requiring Total Unencumbered Assets to be at least 150% of the aggregate outstanding principal amount of Unsecured Debt.
Sep 26, 2025, 8:20 PM
Quarterly earnings call transcripts for Broadstone Net Lease.
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