Broadstone Net Lease Inc Stock Price, News & Analysis

Broadstone Net Lease, Inc. (NYSE: BNL) has announced a public offering of $375 million in senior unsecured notes due September 15, 2031, priced at 99.816% of principal. The expected closing date is also September 15, 2021, subject to customary conditions. Proceeds will fund acquisition opportunities, repay existing debts under BNL's $900 million revolving credit facility, and support general corporate needs. BNL, an internally-managed REIT, manages a diverse portfolio of 684 properties across various sectors as of June 30, 2021.

Broadstone Net Lease, Inc. (BNL) reported strong results for Q2 2021, tightening its AFFO guidance to $1.30-$1.34 per diluted share. The company invested $194 million in 34 properties and collected 100% of base rents, maintaining a 99.7% occupancy rate. Net income reached $22.8 million, while AFFO was $52 million, or $0.33 per share. BNL executed its first public follow-on equity offering, raising $253.5 million to enhance its balance sheet and support future acquisitions. The company also updated its 2021 guidance, anticipating significant investment opportunities.

Broadstone Net Lease (NYSE: BNL) will announce its financial results for Q2 2021 on August 3, 2021, after market close. An earnings conference call is set for August 4, 2021, at 1:30 PM ET. As of March 31, 2021, BNL's portfolio includes 661 commercial properties across the U.S. and Canada. The company emphasizes a strong credit analysis and real estate underwriting strategy. The press release includes cautionary statements about forward-looking risks, particularly related to the COVID-19 pandemic, economic conditions, and tenant financial health.

Broadstone Net Lease (NYSE: BNL) successfully completed a public offering of 11,500,000 shares of Common Stock at $23.00 per share, inclusive of an additional 1,500,000 shares from underwriters. The net proceeds, expected to enhance financial flexibility, will be utilized to reduce borrowings from its $900 million revolving credit facility, pursue acquisition opportunities, and support general corporate needs. Leading financial institutions including Goldman Sachs and BMO Capital Markets managed the offering, which was executed under BNL's existing SEC registration statement.

Broadstone Net Lease (NYSE: BNL) announced a public offering of 10,000,000 shares of Common Stock priced at $23.00 each, with a 30-day option for underwriters to buy an additional 1,500,000 shares. The offering will close on June 28, 2021, subject to customary conditions. Proceeds will be used to pay down debt under BNL's $900 million revolving credit facility, fund acquisitions, and for general corporate purposes. The offering is registered under BNL's shelf registration statement filed with the SEC on June 23, 2021.

Broadstone Net Lease, Inc. (BNL) has initiated an underwritten public offering of 10,000,000 shares of its common stock, with the potential for an additional 1,500,000 shares via an underwriters' option. The proceeds will be utilized to reduce borrowings under a $900 million revolving credit facility, finance acquisition opportunities, and cover general corporate expenses. Goldman Sachs & Co. LLC and BMO Capital Markets are the joint lead book-running managers for this offering. A shelf registration statement became effective on June 23, 2021, with documents available on the SEC's website.

Broadstone Net Lease (NYSE: BNL) reported it has invested $134.5 million in 14 properties this quarter, achieving a weighted average initial cash cap rate of 6.2%. Year-to-date, total acquisitions amount to $221.8 million across 42 properties. BNL maintains a robust pipeline with $176.6 million in properties under control. As of May 31, 2021, the company’s portfolio includes 660 properties, 99.7% occupied, with 100% of base rents collected for April and May. The company emphasizes a strong focus on credit analysis and prudent real estate underwriting.

Broadstone Net Lease announced that its Board of Directors decided to amend the Company’s Articles of Incorporation. The amendment will allow changes to the Charter with a majority vote from stockholders, rather than the current supermajority requirement, excluding provisions related to REIT ownership compliance. This will be submitted for approval at the 2022 annual stockholders meeting. As of March 31, 2021, BNL's portfolio comprises 661 net leased properties across various sectors, located primarily within the U.S.

Broadstone Net Lease (BNL) announced strong first-quarter 2021 results, raising its AFFO guidance to $1.28-$1.34 per share. The company invested $87.3 million in 28 properties, achieving a 99.8% rent collection rate and a 99.7% occupancy rate. BNL received an initial 'BBB' credit rating from S&P, enhancing its loan terms. The company generated net income of $24 million, resulting in $0.15 per share. A 2% dividend increase to $0.255 per share was declared for payment on July 15, 2021. BNL continues to build a robust pipeline of acquisitions valued at $206.5 million.