Welcome to our dedicated page for Broadstone Net Lease news (Ticker: BNL), a resource for investors and traders seeking the latest updates and insights on Broadstone Net Lease stock.
Broadstone Net Lease, Inc. (BNL) is an internally managed real estate investment trust (REIT) specializing in the acquisition, ownership, and management of single-tenant commercial properties. These properties are net leased on a long-term basis to a diversified array of tenants, including those in the industrial, healthcare, restaurant, retail, and office sectors.
BNL's strategic investment approach focuses on acquiring real estate operated by creditworthy single tenants in industries characterized by strong business drivers and favorable trends. This strategy ensures that the properties are crucial to the tenants' operations, thereby allowing BNL to secure long-term, stable leases.
With a heritage rooted in commercial and residential real estate expertise, Broadstone has built a strong track record over the past decade. The company currently serves over 2,500 shareholders through its two privately offered REITs. These offerings are popular among registered investment advisors (RIAs), trust companies, and other wealth management firms, providing a non-commission basis investment option. Shares in these REITs are available via private placement to accredited investors on a monthly basis.
BNL's portfolio is marked by its diversity and quality, featuring properties that are integral to the tenants' business operations. The company aims to deliver consistent returns through strategic property acquisition and effective management practices. This approach has attracted a broad base of investors seeking income-oriented alternatives to the public equity markets.
Broadstone Net Lease (BNL) has updated its build-to-suit development commitments to $246.5 million, to be funded through Q2 2026. This represents a significant decrease from the previously announced $418.8 million, due to a prospective tenant's withdrawal following leadership changes. The current pipeline includes $125.4 million for active construction projects and $121.1 million in additional commitments.
The company's active construction projects include two Sierra Nevada industrial facilities in Dayton, OH, and a substantially completed UNFI industrial facility in Sarasota, FL. Total investment commitments stand at $264.4 million, including $9.9 million in acquisitions under control and $8.0 million for revenue-generating capital expenditures with existing tenants.
Broadstone Net Lease (BNL) reported its Q3 2024 results with net income of $37.3 million ($0.19 per share) and AFFO of $70.2 million ($0.35 per share). The company invested $93.9 million during Q3, including $69.3 million in new property acquisitions and $24.6 million in development fundings. The portfolio was 99.0% leased with a 99.1% rent collection rate. BNL completed its healthcare portfolio simplification, reducing healthcare exposure to less than 10% of ABR. The company maintains its 2024 AFFO guidance of $1.41-$1.43 per diluted share, with planned investments between $400-600 million and dispositions between $350-450 million.
Broadstone Net Lease, Inc. (NYSE: BNL) has announced the schedule for its Third Quarter 2024 Earnings Release and Conference Call. The company will release its financial and operating results for the quarter ended September 30, 2024, after market close on Wednesday, October 30, 2024. BNL will host its earnings conference call and audio webcast on Thursday, October 31, 2024, at 10:00 a.m. Eastern Time.
To access the live webcast in listen-only mode, participants can visit the provided link. For those preferring to listen via phone, U.S. participants may dial the toll-free or local numbers provided, using access code 340652. International access numbers are also available. A replay of the conference call webcast will be accessible approximately one hour after the live broadcast concludes and will remain available for one year.
Broadstone Net Lease (NYSE: BNL) provided an update on its recent business activity through September 8, 2024. Key highlights include:
- Year-to-date investments of $375.6 million
- Committed $453.7 million to fund developments
- Sold 2.0 million shares through ATM Program for $36.5 million
- Commenced rent with United Natural Foods, Inc. (UNFI)
- Resolved negotiations with Red Lobster, maintaining all 18 locations
CEO John Moragne emphasized BNL's positive momentum, attractive investment pipeline, and accretive capital through the ATM program. The company's $453.7 million development funding pipeline is expected to provide accretive growth in 2025 and beyond, supporting BNL's strategy to maximize earnings through portfolio rent escalations, revenue-generating capital expenditures, development funding, and acquisitions.
Broadstone Net Lease (NYSE: BNL) reported strong Q2 2024 results, with net income of $35.9 million ($0.19 per share) and AFFO of $70.4 million ($0.36 per share). The company invested $247.8 million in Q2, including $165.1 million in new property acquisitions. BNL's portfolio was 99.3% leased with a 99.0% rent collection rate. The company is progressing well on its healthcare portfolio simplification strategy, having completed about 65% of planned dispositions. BNL maintains a strong balance sheet with a Net Debt to Annualized Adjusted EBITDAre ratio of 5.1x. The company reaffirmed its 2024 AFFO guidance of $1.41 to $1.43 per share and increased its investment target range to $400-$700 million.
Broadstone Net Lease (NYSE: BNL) has provided an update on its healthcare portfolio simplification strategy, revealing that 38 clinically-oriented healthcare properties have been sold for $262.2 million at a weighted average capitalization rate of 7.84%. A further 15 properties are set for sale in two tranches in July and October 2024, anticipated to bring in $80.3 million at a capitalization rate of 7.96%. These sales are part of a strategy aimed at reducing healthcare exposure from 17.6% of ABR at the end of 2023 to 11.3%. Following these transactions, healthcare dispositions for 2024 will amount to $342.5 million. The company also announced its Q2 2024 earnings release date as July 30, 2024, with a conference call scheduled for July 31, 2024, at 11:00 a.m. ET.
Broadstone Net Lease (BNL) announced its recent business activities up to May 31, 2024. The company invested $255.4 million in total, including $193.6 million in new properties and $58.8 million in development fundings. Sales of 40 properties generated $276.1 million in gross proceeds. BNL's portfolio maintains a 99.3% lease rate, with a 99.8% rent collection rate. Despite Red Lobster's chapter 11 bankruptcy, BNL's 18 Red Lobster locations remain operational. The company will present at Nareit's REITweek: 2024 on June 4, 2024. CEO John Moragne emphasized growth through portfolio rent escalations, revenue-generating capital expenditures, and a diversified acquisition pipeline.
Broadstone Net Lease, Inc. (NYSE: BNL) announced strong first quarter 2024 results, with $202 million investments closed, generating $68.2 million net income and $70.9 million adjusted funds from operations. The company focuses on healthcare portfolio simplification and sustainable growth. Despite low transaction volumes, they creatively source high-quality direct investments. They sold 39 properties for $274 million, reinvested $162.3 million post-quarter, and declared a 1.8% dividend increase. BNL aims for AFFO of $1.41-$1.43 per diluted share for 2024.
Broadstone Net Lease, Inc. (NYSE: BNL) has released its 2023 Sustainability Report, showcasing its commitment to sustainable practices and long-term value creation for shareholders. The report highlights the company's progress in driving growth and consistent performance through responsible initiatives.
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