Broadstone Net Lease, Inc. Earnings Recaps
Q3 2025
Oct 31, 2025
Broadstone Net Lease achieved robust third-quarter results, underscored by a 5.7% increase in quarterly AFFO per share and a strong pipeline of accretive acquisitions totaling $204 million.
Key takeaways
- 100% rent collection for the quarter, successfully addressing prior lease issues with At Home and Claire's.
- Increased full-year 2025 AFFO per share guidance to $1.49–$1.50, reflecting 4.2%–4.9% growth.
- Ongoing investments in a diverse pipeline, including $552.6 million year-to-date, with a focus on build-to-suit projects yielding significant returns.
- Successful issuance of $350 million in senior unsecured notes at attractive terms, with solid market demand validating the company's strategic direction.
- Anticipating continued growth driven by favorable trends in e-commerce and reshoring, positioning the portfolio favorably for the future.
Q2 2025
Aug 1, 2025
Broadstone Net Lease reported a strong Q2 2025 with AFFO per share increasing 5.6% YoY, prompting an upward revision in full-year guidance to $1.48-$1.50, reflecting robust portfolio management and strategic repositioning.
Key takeaways
- AFFO per share of $0.38 in Q2 represents 5.6% growth year-over-year, driving full-year guidance up by 4.2% at the midpoint.
- Successfully reduced clinical healthcare exposure to 2.4% of ABR while maintaining overall AFFO growth.
- Positive outlook on tenant situations with At Home and Claire's, with rent collections unaffected through year-to-date.
- Commitment to strategic asset management with no fire sales, focusing on long-term value creation for shareholders.
- Portfolio diversification and strengthened operational expertise reinforce resilience against tenant credit events.