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VICTOR, N.Y. - Broadstone Net Lease, Inc. (NYSE:BNL), a $3.58 billion market cap REIT with an impressive 94.51% gross profit margin, announced Thursday that its operating partnership has completed a $350 million public offering of senior unsecured notes due 2032.
The 5.000% notes were priced at 99.151% of principal amount and will mature on November 1, 2032. The notes are guaranteed by Broadstone Net Lease, Inc. and represent senior unsecured obligations of the operating partnership. The company maintains strong financial health with liquid assets exceeding short-term obligations and a healthy current ratio of 1.9x. Discover more detailed financial metrics with InvestingPro.
According to the company’s statement, proceeds from the offering will be used to fund potential acquisitions, repay outstanding amounts under BNL’s $1 billion revolving credit facility and term loans, and for general corporate purposes.
J.P. Morgan Securities LLC, Truist Securities, Inc., and U.S. Bancorp Investments, Inc. served as joint lead book-running managers for the offering. Several other financial institutions participated as joint book-running managers and co-managers.
Broadstone Net Lease is an industrial-focused, diversified net lease REIT that primarily invests in single-tenant commercial properties, offering investors a substantial 6.48% dividend yield and maintaining a five-year streak of consecutive dividend increases. As of June 30, 2025, the company’s portfolio consisted of 766 net leased commercial properties, with 759 located across 44 U.S. states and seven in four Canadian provinces. Access comprehensive analysis and additional insights through InvestingPro’s detailed research reports, covering over 1,400 US equities.
The offering was made pursuant to a shelf registration statement filed with the Securities and Exchange Commission on May 3, 2024, according to the press release statement.
In other recent news, Broadstone Net Lease announced the pricing of a $350 million public offering of senior unsecured notes with a 5.000% interest rate, set to mature on November 1, 2032. The company reported its Q2 2025 earnings, where earnings per share (EPS) were $0.10, falling short of the forecasted $0.18. However, revenue surpassed expectations, reaching $112.99 million compared to the anticipated $110.75 million. Goldman Sachs upgraded Broadstone Net Lease’s stock rating from Sell to Buy, increasing its price target to $21.00, citing confidence in management and visible earnings growth from the company’s development pipeline. Similarly, KeyBanc upgraded the stock from Sector Weight to Overweight, setting a price target of $20.00, based on Broadstone’s strategic portfolio repositioning. These upgrades reflect positive sentiment following Broadstone’s disposition of $366 million in clinical healthcare assets over the past 18 months. These developments indicate a period of significant activity and strategic adjustments for Broadstone Net Lease.
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