Broadstone Net Lease Inc Stock Price, News & Analysis

Broadstone Net Lease (NYSE: BNL) has announced three new build-to-suit development projects with a total investment of $61.4 million. The projects include an industrial distribution warehouse in the Dallas MSA for Palmer Distribution Services, a state-of-the-art industrial warehouse in California's Central Valley for AGCO Corporation, and a new grocery store in the Dallas MSA for Sprouts Farmers Market (NASDAQ: SFM).

The company's development pipeline now includes 8 in-process projects totaling 2,252 rentable square feet with a weighted average lease term of 13.0 years and average annual rent escalations of 2.9%. The total estimated project investment across all developments is $371.2 million, with an estimated cash capitalization rate of 7.5% and straight-line yield of 8.9%.

Broadstone Net Lease (NYSE: BNL) has scheduled its second quarter 2025 financial results release for July 30, 2025, after market close. The company will host its earnings conference call and audio webcast the following day on July 31, 2025, at 1:00 p.m. Eastern Time.

U.S. participants can join via phone using the toll-free number 1-833-470-1428 or local number 1-404-975-4839 with access code 819289. The webcast will be available in listen-only mode, and a replay will be accessible for one year through the company's investor relations website.

Broadstone Net Lease (NYSE: BNL) reported significant investment activity in 2025, with $83.3M invested quarter-to-date ($54.7M in acquisitions, $28.6M in build-to-suit developments) and $171.7M year-to-date. The company has $191.6M of new property acquisitions under control, primarily in industrial ($170.2M) and retail ($21.4M) properties. BNL sold two healthcare assets for $5.5M, reducing Clinical & Surgical healthcare properties to 2.4% of total ABR. The company exercised a $100M draw feature on its term loan, increasing it to $500M, and maintained strong rent collection at 99.1% year-to-date. Currently managing multiple development projects with a total estimated investment of $512.4M, featuring properties for tenants including Sierra Nevada, Southwire, and Fiat Chrysler, with weighted average lease terms of 13.9 years.

Keller Williams, the world's largest real estate franchise by agent count and U.S. leader in units and sales volume, has announced key executive appointments. Tim Dieffenbacher has been named Chief Financial Officer (CFO), bringing extensive experience in corporate finance and real estate from his previous role as CFO of a publicly traded REIT. Stacie Herron has been appointed as Chief Operations Officer (COO) while maintaining her position as Chief Legal Officer (CLO).

Dieffenbacher, a Certified Public Accountant, previously worked with KW's CEO Chris Czarnecki at Broadstone Net Lease (NYSE: BNL). Herron, who joined KW as CLO in March 2021, will lead Growth, Franchise Systems, Legal, Risk Management, HR, and Workplace Experience teams in her expanded role. Both appointments are strategic moves to strengthen KW's leadership team and support the company's next growth phase.

Broadstone Net Lease reported strong Q1 2025 results with a focus on long-term shareholder value. The company generated net income of $17.5 million ($0.09 per share), though this represented a 74.3% decrease from the previous year due to lower gains from real estate sales.

Key highlights include:

• AFFO of $71.8 million ($0.36 per diluted share)
• Portfolio 99.1% leased across 769 properties
• $88.3 million in new investments
• Renewed $150 million stock repurchase program
• Extended $1 billion credit facility to March 2029

The company maintains a strong development pipeline with six ongoing build-to-suit projects totaling $255.8 million in remaining investments through Q3 2026. The portfolio spans 44 U.S. states and 4 Canadian provinces, with no single tenant accounting for more than 4% of annualized base rent. Management reaffirmed 2025 AFFO guidance of $1.45-$1.49 per diluted share.

Broadstone Net Lease (NYSE: BNL) has announced a new $78.2 million build-to-suit development partnership with Prologis, Inc. (NYSE: PLD). The project involves constructing a state-of-the-art distribution warehouse facility for FCA US, (Stellantis' American subsidiary) in Forsyth, GA, expected to deliver in Q3 2026.

The 422,000-square-foot facility has a 15-year lease term with an estimated cash capitalization rate of 6.9% and straight-line yield of 8.4%. This development is part of BNL's larger pipeline, which includes multiple projects totaling $516.3 million across industrial and retail properties. The company's total weighted average lease term is 13.9 years with a weighted average estimated cash capitalization rate of 7.3%.

Broadstone Net Lease (NYSE: BNL) has announced its upcoming first quarter 2025 earnings release schedule. The company will disclose its financial and operating results for Q1 2025 after market close on Wednesday, April 30, 2025.

A conference call and audio webcast are scheduled for Thursday, May 1, 2025, at 11:00 a.m. Eastern Time. Participants can access the webcast in listen-only mode through the company's event portal. U.S. participants can join via phone using the toll-free number 1-833-470-1428 or local number 1-404-975-4839 with access code 494942. A replay of the webcast will be available for one year through the investor relations website.

Broadstone Net Lease (NYSE: BNL) has successfully closed a $1.5 billion Amended and Restated Credit Agreement, comprising a $1.0 billion revolving credit facility and a $500 million term loan. The revolving facility matures in March 2029 with two six-month extension options, while the term loan matures in March 2028 with two 12-month extension options.

The new term loan replaces BNL's existing $400 million term loan due February 2026 and includes a three-month delayed-draw feature for the additional $100 million of commitments. The Credit Facilities enhance the company's financial flexibility with increased liquidity, improved borrowing rates, and favorable adjustments to financial covenants.

The transaction was led by major financial institutions including J.P. Morgan Chase Bank, Capital One, Bank of Montreal, M&T Bank, and Truist Bank as Joint Bookrunners and Joint Lead Arrangers.

Broadstone Net Lease (NYSE: BNL) reported strong performance for 2024, achieving $1.43 of AFFO per share at the top end of guidance. The company executed over $400 million in total investments and substantially completed its clinical healthcare portfolio simplification strategy, reducing clinical & surgical assets to 3.2% of ABR from 9.7% in 2023.

As of December 31, 2024, BNL owned 765 net leased commercial properties across 44 U.S. states and 4 Canadian provinces, totaling 39.4 million rentable square feet. The portfolio maintains a 99.1% occupancy rate with 202 different commercial tenants, no single tenant exceeding 4.1% of ABR. The weighted average lease term stands at 10.2 years with 2.0% average annual minimum rent increases.

For 2025, BNL projects AFFO between $1.45 and $1.49 per diluted share, with over $200 million of build-to-suit developments scheduled for completion during 2025 and 2026. The company maintains a strong balance sheet with 5.0x leverage and declared a quarterly dividend of $0.29 per share.