{"id":47632,"date":"2026-07-30T01:17:00","date_gmt":"2026-07-29T23:17:00","guid":{"rendered":"http:\/\/stocks-future.com\/?guid=6cee470e01e53f2e9642ab609c412f5e"},"modified":"2026-07-30T01:17:00","modified_gmt":"2026-07-29T23:17:00","slug":"broadstone-net-lease-announces-second-quarter-2026-results","status":"publish","type":"post","link":"https:\/\/stocks-future.com\/?p=47632","title":{"rendered":"Broadstone Net Lease Announces Second Quarter 2026 Results"},"content":{"rendered":"

VICTOR, N.Y.--(BUSINESS WIRE)--#acquisitions<\/a>--Broadstone Net Lease, Inc. (NYSE: BNL) (\u201cBNL\u201d, the \u201cCompany\u201d, \u201cwe\u201d, \u201cour\u201d, or \u201cus\u201d), today announced its operating results for the quarter ended June 30, 2026.<\/p><\/a><\/a>

\nMANAGEMENT COMMENTARY<\/b><\/p>

\n\u201cOur second quarter results underscore the earnings power of our portfolio and the continued strength of our investment activity,\" <\/i>said John Moragne, BNL\u2019s Chief Executive Officer. \"The highlight of the quarter, and arguably of our history as a public company, was the announcement of our $303 million build-to-suit development for a Fortune 20 Investment-Grade Company, a transaction that validates everything we have been building toward and demonstrates what is possible when you combine our differentiated strategy with the execution capabilities of our team and the depth of our developer relationships. With 2.1% in-place rent increases across the portfolio, a committed build-to-suit pipeline of $645 million, and sound balance sheet management, we have the visibility and confidence to raise the midpoint of our full-year AFFO per share guidance range to $1.56, and we enter the back half of 2026 with real conviction in what lies ahead.\"<\/i><\/p>

\nSECOND QUARTER 2026 HIGHLIGHTS<\/b><\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n

\nOPERATING<\/b><\/p>

\nRESULTS<\/b><\/p><\/td>

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  • \nGenerated net income of $40.3 million, or $0.21 per diluted share, representing a 110.0% increase compared to the same period in the prior year.<\/li>\n<\/ul>\n<\/td><\/tr>\n
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  • \nGenerated AFFO of $78.2 million, or $0.39 per diluted share, representing a 2.6% increase compared to the previous year.<\/li>\n<\/ul>\n<\/td><\/tr>\n
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  • \nAchieved same store rental revenue growth of 2.2% compared to the same period in the previous year, driven by strong contractual rent increases and leasing activity in prior periods.<\/li>\n<\/ul>\n<\/td><\/tr>\n
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  • \nIncurred $11.9 million of general and administrative expenses. Incurred core general and administrative expenses of $7.3 million, which primarily excludes stock-based compensation and non-capitalized transaction costs.<\/li>\n<\/ul>\n<\/td><\/tr>\n
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  • \nCollected 99.9% of base rents due for the quarter for all properties under lease.<\/li>\n<\/ul>\n<\/td><\/tr>\n

\nINVESTMENT & DISPOSITION ACTIVITY<\/b><\/p><\/td>

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  • \nDuring the second quarter, invested $91.5 million, including $77.3 million in build-to-suit developments, $13.5 million in transitional capital, and $0.7 million in revenue generating capital expenditures and redevelopments.<\/li>\n<\/ul>\n<\/td><\/tr>\n
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  • \nDuring the second quarter, we started two build-to-suit developments totaling $70.8 million in estimated total project costs, with a weighted average initial cap rate of 6.7%, and straight-line yield of 8.1% with rent commencement expected in October and November of 2027. Subsequent to quarter-end and as previously announced, we started a $303 million build-to-suit with a Fortune 20 Investment Grade tenant. For additional information, please reference the Real Estate Portfolio and Investment Update section below.<\/li>\n<\/ul>\n<\/td><\/tr>\n
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  • \nSubsequent to quarter-end, we invested $97.8 million in connection with our in-process build-to-suit investments. As of the date of this release, we have a total of approximately $149.3 million in remaining estimated investments for build-to-suit developments to be funded through the fourth quarter of 2026.<\/li>\n<\/ul>\n<\/td><\/tr>\n
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  • \nDuring the second quarter, we sold nine properties for gross proceeds of $62.0 million at a capitalization rate of 6.4% on tenanted properties. Subsequent to quarter-end, we sold two properties for gross proceeds of $4.2 million, bringing our year-to-date total to 12 properties for gross proceeds of $78.3 million at capitalization rate of 6.2%.<\/li>\n<\/ul>\n<\/td><\/tr>\n

\nCAPITAL MARKETS ACTIVITY<\/b><\/p><\/td>

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  • \nDuring the second quarter of 2026, we sold, on a forward basis, 2.2 million shares of our common stock at a weighted average gross price per share of $20.77 for estimated gross proceeds of approximately $45.5 million under our at-the-market common equity offering (\u201cATM Program\u201d), none of which has settled.<\/li>\n<\/ul>\n<\/td><\/tr>\n
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  • \nSubsequent to quarter-end, we entered into a new $300 million senior unsecured delayed-draw term loan maturing January 30, 2030, and amended the pricing grids on the Company\u2019s existing term loans and revolving credit facility to reduce the applicable margin by 5 basis points. Please reference the Balance Sheet Capital Markets Activities section below for additional details.<\/li>\n<\/ul>\n<\/td><\/tr>\n