Broadstone Net Lease Inc Stock Price, News & Analysis

Broadstone Net Lease, Inc. (NYSE: BNL) has announced a stock repurchase program, authorizing the repurchase of up to $150 million of its outstanding common stock. This program is set to expire on March 14, 2024. The company plans to execute purchases in the open market, depending on market conditions and stock price, while adhering to legal requirements. As of December 31, 2022, BNL's portfolio included 804 net leased commercial properties across the U.S. and Canada.

Broadstone Net Lease, Inc. (NYSE: BNL) reported its operating results for Q4 and full year 2022, indicating strong investment activity with $310.3 million invested in Q4 at a 6.7% capitalization rate. The portfolio remains robust, with a 99.9% rent collection rate and a 99.4% lease occupancy rate. For the full year, BNL's net income increased by 7.5% to $129.5 million, with adjusted funds from operations (AFFO) rising by 6.9% to $252.2 million. The company declared a quarterly dividend of $0.275 and expects 2023 AFFO per share between $1.40 and $1.42, driven by strategic investments and property dispositions.

Broadstone Net Lease, Inc. (NYSE: BNL) appointed Jessica Duran, CFO of TSG Consumer Partners, and Laura Felice, CFO of BJ’s Wholesale Club, to its Board of Directors. Geoffrey Rosenberger will retire after over 15 years of service. Both new appointees bring significant experience in finance and retail, enhancing the board's expertise and strategic direction. The company plans to release its Q4 2022 earnings on February 22, 2023, with an earnings call on February 23, 2023. As of December 31, 2022, BNL manages a portfolio of 804 net leased commercial properties.

Broadstone Net Lease (NYSE: BNL) announced the income tax allocation for its 2022 common stock dividends. Stockholders are advised to consult with tax advisors regarding their specific dividend tax treatment. Key dividends include a distribution of $0.265 per share, with payment dates ranging from January 14 to October 14, 2022. The ordinary dividends total $0.179593 per share, alongside various capital gain distributions. The company holds a diversified portfolio of 804 net leased properties across the U.S. and Canada as of December 31, 2022.

Broadstone Net Lease (NYSE: BNL) announces a senior executive succession plan, effective February 28, 2023. John Moragne, previously Executive VP and COO, will become CEO, succeeding Chris Czarnecki, who will remain in an advisory role until January 31, 2024. Ryan Albano will transition to President & COO, while Kevin Fennell will be promoted to CFO. In Q4 2022, Broadstone invested $310.3 million and collected 99.9% of base rents, highlighting strong operational performance.

Broadstone Net Lease (NYSE: BNL) announced its Q3 2022 results, reporting revenues of $103.5 million and net income of $28.7 million, or $0.16 per share. The company invested $204.5 million in 27 properties, primarily in the industrial sector, with a weighted average lease term of 20.9 years. BNL sold shares under its ATM program, raising $20.3 million, and completed a forward offering expected to yield $270.7 million. The quarterly dividend was increased to $0.275, and BNL reaffirmed its full-year AFFO guidance of $1.38 to $1.40 per diluted share.

Broadstone Net Lease, Inc. (NYSE: BNL) will announce its financial results for Q3 2022 on November 2, 2022, after market hours. An earnings conference call will follow on November 3 at 11:00 a.m. ET, accessible via a live webcast or by phone. As of September 30, 2022, BNL's portfolio includes 790 net leased commercial properties across the U.S. and Canada, emphasizing a diverse investment strategy. The company acknowledges potential risks in their forward-looking statements, including economic trends and tenant financial health.

Broadstone Net Lease, Inc. (NYSE: BNL) reported significant investment activity for Q3 2022, allocating $204.5 million across 28 properties with a cash cap rate of 6.5%. Year-to-date investments reached $596.9 million, and the company currently holds $368.5 million in investment opportunities. With a portfolio occupancy of 99.3%, BNL reaffirmed its 2022 AFFO guidance between $1.38 and $1.40 per diluted share, reflecting strong operational performance despite potential market risks.

Broadstone Net Lease, Inc. (NYSE: BNL) reported a remarkable 100% base rent collection for Q3 2022. The company has three vacant properties not currently leased. BNL's CEO, Chris Czarnecki, emphasized the strength and resilience of their diversified portfolio amid economic pressures. A business update will be provided before market opening on October 4, 2022, detailing Q3 performance and acquisition activities. As of June 30, 2022, BNL owned 764 net-leased commercial properties across the U.S. and Canada.