Broadstone Net Lease adds $78.2M project with Prologis

VICTOR, N.Y. - Broadstone Net Lease, Inc. (NYSE: BNL), a diversified net lease real estate investment trust (REIT) with a market capitalization of $3.16 billion, announced a new development commitment estimated at approximately $78.2 million. According to InvestingPro data, the company maintains impressive gross profit margins of 94.27% and a healthy current ratio of 2.1, indicating strong financial stability. The company has partnered with Prologis, Inc. (NYSE: PLD), a global leader in logistics real estate, to construct a build-to-suit development, signaling an expansion in Broadstone’s pipeline of such projects.

The partnership with Prologis represents a strategic alignment with Broadstone’s industrial-focused investment approach and its commitment to long-term value creation. The new project, which has begun with secured land and construction, is expected to be completed over the next 15 months.

BNL’s CEO, John Moragne, expressed enthusiasm about the collaboration with Prologis and the addition to the company’s committed pipeline. He anticipates further opportunities with Prologis in the future. The current development pipeline includes a state-of-the-art distribution warehouse for FCA US, LLC, a subsidiary of Stellantis, expected to be delivered in the third quarter of 2026.

As of April 24, 2025, Broadstone’s portfolio included 765 individual net leased properties across the United States and Canada, catering to a diverse mix of tenants in industrial, retail, and other property types. The company’s strategy involves a combination of strong credit analysis and prudent real estate underwriting. BNL has demonstrated consistent shareholder value, maintaining a significant 7.21% dividend yield and raising its dividend for five consecutive years. InvestingPro analysis suggests the stock is currently trading near its Fair Value, with additional insights available in the comprehensive Pro Research Report, which covers over 1,400 US equities.

The forward-looking statements in the press release highlight the company’s business and financial strategies and prospects. However, these statements are subject to risks and uncertainties that could cause actual results to differ materially, including economic conditions, tenant financial health, and property investment outcomes. InvestingPro subscribers have access to 6 additional ProTips and detailed financial metrics that provide deeper insights into BNL’s investment potential and risk factors.

This news is based on a press release statement from Broadstone Net Lease, Inc. and does not include speculation or subjective assessments of the company’s market position or future prospects. The information provided is intended to give investors a factual overview of the company’s new development commitment and partnership with Prologis.

In other recent news, Broadstone Net Lease has been the focus of updated analysis from BMO Capital Markets. The firm raised its price target for Broadstone Net Lease from $19.00 to $20.00 while maintaining an Outperform rating. This adjustment follows discussions with the company’s leadership about a strategic shift towards build-to-suit developments and revenue-generating capital expenditures. Broadstone Net Lease aims for mid-single-digit earnings growth by 2026, leveraging its new strategy to create value and address tenant issues proactively. The strategy is designed to provide attractive returns compared to the company’s weighted average cost of capital and offers comprehensive financing solutions for fully pre-leased projects. BMO Capital Markets has also updated its earnings estimates for the company, reflecting confidence in its revised strategy. The company’s approach includes providing financing solutions that fill a gap left by traditional banks, covering land acquisition, construction, and permanent financing. These developments indicate a strategic pivot for Broadstone Net Lease, with BMO Capital Markets expressing optimism in its growth potential.

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