Broadstone Net Lease, Inc. operates as an industrial-focused, diversified net lease REIT that owns and manages primarily single-tenant commercial properties leased on a long-term basis to a diversified tenant base. Company news commonly covers quarterly operating results, AFFO and rent metrics, portfolio occupancy, acquisitions, and build-to-suit development commitments across industrial, retail, and other property types in the United States and Canada.
Recurring updates also include dividend declarations and tax treatment, investor presentations, earnings-call schedules, guidance, tenant exposure, lease-term trends, and balance-sheet or capital-markets activity tied to BNL's real estate investment strategy.
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.
Broadstone Net Lease, Inc. (NYSE: BNL) has priced a public offering of 13,000,000 shares of its common stock at $21.35 per share, with a potential additional 1,950,000 shares available to underwriters. Closing is anticipated on August 12, 2022. No immediate proceeds will be received; funds will support acquisitions, repay debts, and cover general corporate purposes. The SEC shelf registration was effective from June 23, 2021.
Broadstone Net Lease, Inc. (NYSE: BNL) announced a public offering of 13,000,000 shares of its Common Stock, with an option for underwriters to purchase an additional 1,950,000 shares. The offering is associated with forward sale agreements involving major financial institutions, including Goldman Sachs and J.P. Morgan. Although BNL won't receive immediate proceeds from the offering, it plans to use future proceeds for acquisitions, debt repayment, and working capital. The offering follows a shelf registration statement filed with the SEC on June 23, 2021.
Broadstone Net Lease, Inc. (NYSE: BNL) has reported an acquisition update, revealing an additional $80.2 million in acquisitions since the end of Q2 2022. Currently, BNL has $367.8 million of properties under control, which includes two industrial sale-leaseback transactions worth over $290 million. BNL focuses on industrial, healthcare, restaurant, and retail asset classes and aims to enhance its portfolio through strategic, long-term net leases with varied tenants across North America.
Broadstone Net Lease reported Q2 2022 results, achieving a net income of $35.6 million or $0.20 per share, up from $28.4 million in Q1. The company invested $182.4 million in acquisitions with a 6.4% initial cash cap rate and maintained a 99.8% leased portfolio. BNL also raised $68.3 million by selling 3.2 million shares. A dividend of $0.27 per share was declared for Q3 2022. The AFFO guidance was narrowed to $1.38-$1.40 per diluted share, reflecting increased interest expenses from new loans. Total debt stands at $1.9 billion with a Net Debt to Adjusted EBITDAre ratio of 5.3x.