Broadstone Net Lease Inc Stock Price, News & Analysis

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.

Broadstone Net Lease, Inc. (NYSE: BNL) will release its financial results for Q1 2021 post-market on May 4, 2021. An earnings conference call will follow on May 5, 2021, at 1:30 p.m. ET. The company's diversified portfolio includes 640 properties with a gross asset value of approximately $4.0 billion, spanning industrial, healthcare, restaurant, office, and retail sectors across 41 states and Canada. BNL emphasizes strong credit analysis and prudent real estate underwriting in its investment strategy.

The Board of Directors of Broadstone Net Lease (NYSE: BNL) has nominated Denise Brooks-Williams and Michael A. Coke for election at the upcoming Annual Meeting of Stockholders in May 2021. Brooks-Williams has extensive experience in the healthcare sector, currently serving as CEO at Henry Ford Health System. Coke, co-founder of Terreno Realty, brings significant expertise in industrial real estate. Their appointments aim to enhance the Board's capabilities in core property types, aligning with BNL's growth strategy. The Board will consist of nine members if all nominees are elected, with seven being independent.

Broadstone Net Lease (BNL) announced that all outstanding shares of Class A Common Stock will convert to Common Stock on a one-for-one basis, effective March 22, 2021. This automatic conversion, per BNL’s Articles of Incorporation, will not impact the economic rights of Class A shareholders. Post-conversion, no Class A shares will remain outstanding, and the new Common Stock will have a different CUSIP number. BNL, an internally-managed REIT, holds a diversified portfolio of 640 properties across diverse sectors in the U.S. and Canada, with an aggregate gross asset value of around $4 billion.

Broadstone Net Lease (BNL) reported its operating results for Q4 and full year 2020. The Company invested $100.3 million in 19 properties with a cap rate of 6.9% and achieved a 98.8% rent collection rate for Q4 2020. Net income for Q4 was $17.6 million ($0.11 per share), and for the year, it totaled $56.3 million ($0.44 per share). BNL raised $588.3 million from its IPO, which was used to reduce debt and fund acquisitions. The Company declared a dividend of $0.25 per share and projects 2021 AFFO to be between $1.27 and $1.33 per share.

Broadstone Net Lease, Inc. (BNL) announced it will release its financial and operating results for the fourth quarter and full year ended December 31, 2020, after the market closes on February 24, 2021. An earnings conference call will be held on February 25, 2021, at 1:00 p.m. Eastern Time. BNL, a REIT that primarily acquires single-tenant commercial properties, operates a diversified portfolio of 640 properties across 41 U.S. states and one in Canada, valued at over $4 billion as of December 31, 2020. This release also contains forward-looking statements about potential risks and uncertainties.

Broadstone Net Lease announced its income tax allocation for 2020 common stock dividends, advising shareholders to consult tax advisors for personal implications. In total, Common Stock saw distributions of $0.110 per share for the first five months and $0.135 for September. The capital gain distribution amounts were entirely long-term capital gains and excluded from Section 1061 of the Code. Following a four-for-one stock split on September 18, 2020, the dividend amounts were adjusted retrospectively. Important tax details are available in Form 1099-DIV for both Common and Class A Common Stock.

Broadstone Net Lease, Inc. (NYSE: BNL) has received an initial credit rating of 'BBB' with a stable outlook from S&P Global Ratings. This rating applies to both BNL and its operating subsidiary, indicating strong operational performance and a well-diversified portfolio. The Company, which manages a portfolio of 641 properties across various sectors, emphasizes its prudent financial policies and access to capital at competitive rates as key drivers for long-term shareholder value. BNL reported an aggregate gross asset value exceeding $4 billion.

Broadstone Net Lease (BNL) reported $100.3 million in acquisitions during Q4 2020, achieving a rent collection rate of 98.8%. The company focused on diversifying its assets, particularly in industrial, quick-service restaurant, healthcare, and retail sectors. Key acquisitions included a warehouse in Minnesota for $41 million and multiple restaurant properties. BNL's financial position remains strong, with ample liquidity for future growth. Following 15 years of service, Chairman Amy L. Tait will step down in May 2021, with Laurie A. Hawkes set to succeed her as Chairman.