Welcome to our dedicated page for Broadstone Net Lease SEC filings (Ticker: BNL), a comprehensive resource for investors and traders seeking official regulatory documents including 10-K annual reports, 10-Q quarterly earnings, 8-K material events, and insider trading forms.
Broadstone Net Lease, Inc. filings document regulatory disclosures for an industrial-focused net lease REIT, including operating and financial results, quarterly supplemental information, investor presentations, and material-event reports furnished on Form 8-K. These records describe BNL's portfolio of long-term net leased commercial real estate, tenant and lease metrics, investment activity, build-to-suit commitments, dividend information, and capital-structure matters connected to its REIT operations.
Proxy materials and other governance filings cover board matters, shareholder voting items, executive compensation, equity awards, ownership disclosures, and related governance practices. The filing record also includes Regulation FD and shareholder communication disclosures relevant to BNL's property portfolio, financing activities, and public-company reporting obligations.
Broadstone Net Lease, Inc. (BNL) reported that it has added two directly sourced, off-market build-to-suit retail developments in Manor, Texas for Hobby Lobby and Academy Sports, increasing its committed pipeline by approximately $23 million. BNL has secured the land and begun construction, with both projects expected to be delivered in the second quarter of 2027.
The Hobby Lobby project has an estimated total project investment of $10.339 million, with cumulative investment of $1.633 million, estimated remaining investment of $8.706 million, a 15-year lease term, annual rent escalations of 0.5%, an estimated cash capitalization rate of 7.1%, and an estimated straight-line yield of 7.4%. The Academy Sports project has an estimated total project investment of $12.437 million, cumulative investment of $2.181 million, estimated remaining investment of $10.256 million, a 15-year lease term, annual rent escalations of 0.4%, an estimated cash capitalization rate of 7.1%, and an estimated straight-line yield of 7.3%.
BNL describes itself as an industrial-focused, diversified net lease REIT. As of June 30, 2026, its portfolio consisted of 766 single-tenant commercial properties, including 759 in 44 U.S. states and 7 in four Canadian provinces, across industrial, retail, and other property types.
Broadstone Net Lease, Inc. (BNL) director Richard P. Imperiale reported open-market purchases of the company’s common stock. On August 20, 2026, he purchased 5,000 shares at $21.22 per share, and on August 21, 2026, he purchased an additional 5,000 shares at $21.10 per share, all held directly. The filing notes that his reported holdings include 4,987 shares of unvested restricted stock, and the Rule 10b5-1 checkbox was not marked.
Broadstone Net Lease, Inc. entered into an Underwriting Agreement on August 6, 2026 to offer 11,000,000 shares of common stock at a public offering price of $20.50 per share. The underwriters’ option to purchase up to an additional 1,650,000 shares was exercised in full on August 9, 2026, bringing the total shares sold in the offering to 12,650,000. The offering closed on August 10, 2026.
In connection with this offering, the company entered into Forward Sale Agreements with Morgan Stanley & Co. LLC and JPMorgan Chase Bank, National Association, under which the Forward Purchasers or their affiliates borrowed and sold the 12,650,000 shares to the underwriters. The company will not initially receive proceeds from these sales. The Forward Sale Agreements provide an initial forward sale price of $19.7825 per share and are expected to be physically settled in cash for shares delivered by September 30, 2027, though the company may elect cash or net share settlement, which could result in the company receiving or owing cash or shares.
Broadstone Net Lease, Inc., an industrial-focused net lease REIT, is offering 11,000,000 shares of common stock at a public offering price of $20.50 per share via forward sale agreements with affiliates of Morgan Stanley and JPMorgan. The forward purchasers borrow and sell the shares to the underwriters; Broadstone will not initially receive proceeds. The company expects to physically settle the forward sales by September 30, 2027 at an initial forward sale price of $19.7825 per share, for anticipated net cash proceeds of about $217.6 million, subject to rate and dividend adjustments, which will be contributed to its operating partnership and used for investments, debt repayment, and general purposes.
As of June 30, 2026, Broadstone owned 766 properties and held a 95.9% interest in its UPREIT operating partnership. Recent developments include a $303 million joint-venture build-to-suit advanced technology facility in Colorado with an estimated 8.5% year-one cash cap rate, a new $300 million Term Loan II Facility maturing in 2030 with reduced credit spreads, and declaration of a $0.2925 per-share quarterly distribution for Q3 2026. The filing highlights potential dilution and cash obligations from the forward sale structure and notes REIT tax risks if forward agreements are cash-settled in a way that generates significant non-qualifying income.
State Street Corporation reports beneficial ownership of 10,818,323 shares of Broadstone Net Lease Inc. common stock, representing 5.6% of the class. All voting and dispositive authority is held on a shared basis through affiliated investment adviser subsidiaries, with no sole voting or dispositive power reported.
Shared voting power covers 9,696,772 shares, while shared dispositive power covers the full 10,818,323 shares. The position is held via entities including SSGA Funds Management, Inc. and various State Street Global Advisors entities, and no other person is identified as having a more-than-5% economic interest on whose behalf the securities are held.
Broadstone Net Lease, Inc. is offering 11,000,000 shares of common stock through forward sale agreements with Morgan Stanley & Co. LLC and JPMorgan Chase Bank, National Association, with underwriters holding a 30‑day option for up to 1,650,000 additional shares. The forward purchasers or their affiliates will borrow and sell the shares to the underwriters, and Broadstone expects to physically settle the forwards by September 30, 2027; it may instead elect cash or net share settlement, which could lead to cash payments or additional share issuances. The company will not initially receive proceeds; cash received upon settlement will be contributed to its operating partnership and used for investments, repayment of unsecured revolving credit facility and other debt, and general corporate purposes. As of June 30, 2026 Broadstone was an industrial‑focused net lease REIT with 766 properties and a 95.9% interest in its operating partnership, and had recently committed about $303 million to a Colorado build‑to‑suit joint venture and added a $300 million Term Loan II Facility maturing in 2030. The filing highlights risks of share price volatility, dilution from this and future equity issuance, and specific risks and potential dilution or cash obligations arising from the forward sale structure.
Broadstone Net Lease, Inc. generated higher profitability in early 2026, with net income of $40.3M for the quarter and $86.6M for the six months ended June 30, 2026, compared with $19.8M and $37.3M a year earlier. Lease revenues reached $122.3M in the quarter and $243.7M year‑to‑date, helped by $20.1M of gains on real estate sales and sharply lower impairment charges of $3.5M versus $28.1M in the prior‑year period. Operating cash flow was $134.3M, slightly below $150.7M a year earlier.
Total assets were $5.87B, including $4.98B of investment in rental property and $385.1M of property under development. Debt totaled $2.69B with a 4.12% weighted average interest rate after swaps, and equity was $3.01B. The company owned 766 net‑leased properties totaling about 41.7M square feet, essentially 100% leased with a 9.3‑year weighted average remaining lease term and contractual rent escalations on 96.8% of leases. Growth investments reached $263.4M across acquisitions, development, revenue‑generating capital expenditures, and transitional capital in the first half, alongside $163.8M of remaining commitments to 12 build‑to‑suit projects and an active at‑the‑market equity program.
Broadstone Net Lease, Inc. entered into Amendment No. 2 to its Amended and Restated Credit Agreement, adding a new $300,000,000 Term Loan II Facility maturing on January 30, 2030 and reducing interest margins on both existing term loans and the revolving credit facility based on credit ratings.
The operating company may extend the new facility twice for 12 months per extension, subject to conditions and a 0.125% extension fee on outstanding principal, and may draw during an availability period of up to 12 months. Based on a Baa2 / BBB rating, current margins are 0.800% on revolving benchmark or RFR loans and 0.900% on term benchmark or RFR loans. A related third amendment to the separate Regions term loan agreement revises definitions and aligns its provisions with the amended credit agreement.
Broadstone Net Lease, an industrial‑focused net lease REIT, reported stronger 2026 results. For the six months ended June 30, lease revenues, net were $243,710 thousand, up from $221,677 thousand a year earlier, and net income rose to $86,647 thousand from $37,323 thousand. Diluted EPS increased to $0.45 from $0.19, helped by higher rental income, much lower impairment charges of $3,546 thousand versus $28,068 thousand, and $20,111 thousand of gains on property sales, partly offset by higher interest and depreciation expense.
Total assets were $5,865,290 thousand, including $4,983,899 thousand of investment in rental property, net, across 766 properties totaling about 41.7 million square feet. Debt consisted mainly of $2,634,351 thousand of unsecured borrowings and $40,640 thousand of mortgages; the weighted‑average borrowing rate was 4.12% including interest rate swaps. The unsecured revolving credit facility had $447,376 thousand drawn and $542.1 million available.
The company invested $126,223 thousand in acquisitions and increased property under development to $385,067 thousand, while disposing of 10 properties for $74,133 thousand in aggregate sale price. It declared quarterly distributions of $0.2925 per share and continued to use its at‑the‑market equity program via forward sales. Subsequent to quarter‑end, it arranged a new $300.0 million delayed‑draw term loan and reduced SOFR‑based margins on its credit facilities.
Broadstone Net Lease, Inc. reported stronger Q2 2026 results. Lease revenues, net were $122.3 million, above $113.0 million a year earlier. Net income rose to $40.3 million, or $0.21 per diluted share, a 110.0% increase. AFFO was $78.2 million, or $0.39 per diluted share, 2.6% above the prior year. Same-store rental revenue grew 2.2%, and the company collected 99.9% of base rents.
As of June 30, 2026, the portfolio comprised 766 net-leased properties totaling 41.7 million rentable square feet, effectively fully leased and diversified across 206 tenants, with a 9.3-year weighted-average lease term and 2.1% average annual rent escalators. The committed build-to-suit pipeline totaled $645 million, including a recently announced $303 million Colorado joint venture for a 100-megawatt powered shell leased to a Fortune 20 investment-grade company under a 15-year triple-net lease, expected to be meaningfully accretive to 2027–2028 earnings.
Net Debt was $2.7 billion, equating to 6.4x Net Debt to Annualized Adjusted EBITDAre, with $542.1 million of revolver availability and a new $300 million delayed-draw term loan maturing in 2030. Management now expects 2026 AFFO of $1.55–$1.57 per diluted share and declared a quarterly dividend of $0.2925 per share.