Broadstone Net Lease provides 2026 AFFO guidance, plans $500-625m in investments

VICTOR, N.Y. - Broadstone Net Lease, Inc. (NYSE:BNL) announced Monday its initial guidance for fiscal year 2026, projecting adjusted funds from operations (AFFO) of $1.53 to $1.57 per diluted share, representing approximately 4.0% growth at the midpoint compared to 2025. The REIT, currently valued at $3.47 billion by market capitalization, is trading near its 52-week high of $18.87 according to InvestingPro data.

The industrial-focused real estate investment trust maintained its 2025 AFFO guidance of $1.49 to $1.50 per share, which represents 4.2% to 4.9% growth. InvestingPro data shows BNL boasts an impressive 94.76% gross profit margin in the last twelve months, demonstrating strong operational efficiency despite trading at a relatively high P/E ratio of 37.43.

For 2026, BNL plans investments in real estate properties between $500 million and $625 million, with dispositions between $75 million and $100 million. The company expects total core general and administrative expenses to range from $30.5 million to $31.5 million.

On a year-to-date basis through December 1, 2025, BNL has invested $696.7 million, including $416.6 million in new property acquisitions, $181.8 million in build-to-suit developments, and $90.0 million in transitional capital. The company currently has $13.3 million of acquisitions under control. This investment activity has contributed to BNL’s solid 16.66% year-to-date price return, as tracked by InvestingPro.

BNL also reported selling 621,487 shares of its common stock on a forward basis for gross proceeds of approximately $11.4 million under its at-the-market common equity offering program, which may be settled at the company’s discretion prior to December 31, 2026. The REIT maintains a strong financial position with a current ratio of 2.88, indicating its liquid assets comfortably exceed short-term obligations.

The company’s portfolio currently consists of 759 individual net leased commercial properties, with 752 located in 44 U.S. states and seven properties in four Canadian provinces. This diversified portfolio supports BNL’s attractive 6.6% dividend yield, with InvestingPro data revealing the company has raised its dividend for six consecutive years.

BNL’s build-to-suit development pipeline includes projects with tenants such as Sprouts, Hobby Lobby, Academy Sports, Sierra Nevada, Southwire, and Fiat Chrysler Automobile, with estimated total project investments of approximately $330.8 million.

The announcement comes ahead of BNL’s Investor Day scheduled for Tuesday, December 2, 2025, according to the company’s press release statement.

In other recent news, Broadstone Net Lease Inc. reported its third-quarter earnings for 2025, showing a mixed financial performance. The company recorded earnings per share of $0.14, which was below the forecasted $0.17, representing a 17.65% negative surprise. On a positive note, Broadstone’s revenue surpassed expectations, reaching $114.17 million compared to the anticipated $112.62 million. These developments are of interest to investors as they assess the company’s financial health and future prospects. The company’s latest financial results are crucial for stakeholders, providing insights into its operational efficiency and market position. Analysts’ projections had anticipated different outcomes, highlighting the importance of these earnings reports. Investors often rely on such data to make informed decisions regarding their portfolios.

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