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Broadstone Net Lease, Inc. (NYSE:BNL), a real estate investment trust with a market capitalization of $3.2 billion and an impressive 94.27% gross profit margin according to InvestingPro, announced the results of its 2025 Annual Meeting of Stockholders on May 1, 2025. The company, which has maintained a consistent dividend growth track record for five consecutive years, currently offers shareholders a substantial 7.31% dividend yield. During the meeting, shareholders elected nine directors to the company’s Board of Directors to serve until the next annual meeting in 2026. Additionally, the compensation of the company’s named executive officers was approved on a non-binding advisory basis, and Deloitte & Touche LLP was ratified as the independent registered public accounting firm for the fiscal year ending December 31, 2025.
The nine director nominees were elected by the shareholders with a significant majority of votes for each candidate. Details of the votes for, against, abstained, and broker non-votes were provided for each nominee. The advisory vote on executive compensation, commonly referred to as "say on pay," received a majority of votes in favor, with a smaller number against and some abstentions. There were no broker non-votes for this proposal.
Furthermore, the ratification of Deloitte & Touche LLP as the company’s independent auditor for the upcoming fiscal year passed with an overwhelming majority. There were no abstentions or broker non-votes on this proposal.
No other proposals were submitted to a vote at the Annual Meeting. The company has committed to maintaining its policy of holding an annual advisory vote on executive compensation following the preferences indicated by its stockholders. Looking ahead, InvestingPro data indicates analysts expect the company to remain profitable in the current fiscal year, with the next earnings announcement scheduled for August 5, 2025. For deeper insights into BNL’s financial health and future prospects, investors can access the comprehensive Pro Research Report, available exclusively to InvestingPro subscribers.
The information provided is based on Broadstone Net Lease, Inc.’s SEC filing.
In other recent news, Broadstone Net Lease Inc . reported its first-quarter 2025 earnings, revealing a shortfall in both earnings per share (EPS) and revenue compared to analyst expectations. The company posted an EPS of $0.09, falling short of the projected $0.18, and generated revenue of $108.69 million, slightly below the anticipated $108.93 million. Despite this, the company maintained its 2025 Adjusted Funds from Operations (AFFO) guidance range of $1.45 to $1.49 per share. Broadstone Net Lease continues to focus on expanding its industrial and retail property portfolio, with a high occupancy rate of 99.1% and a rent collection rate matching this percentage in the first quarter. The company announced a new $78.2 million build-to-suit project in partnership with Prologis (NYSE:PLD), adding to its pipeline of development commitments. Analysts expressed concerns regarding the potential impact of tariffs on manufacturing and industrial tenants, which could affect future earnings. Despite these challenges, Broadstone Net Lease remains committed to its strategy of differentiated and disciplined growth.
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