Broadstone Net Lease, Inc. ( (BNL) ) has released its Q4 earnings. Here is a breakdown of the information Broadstone Net Lease, Inc. presented to its investors.
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Broadstone Net Lease, Inc. is a real estate investment trust (REIT) that focuses on investing in single-tenant commercial properties primarily in the industrial, retail, and other sectors, with a diversified portfolio spanning across the United States and Canada.
Broadstone Net Lease reported its financial results for the fourth quarter and full year 2024, highlighting a successful year with strong investment activity and portfolio management. The company achieved an adjusted funds from operations (AFFO) of $1.43 per share, which is at the top end of their guidance.
The company generated a net income of $169 million for the year, reflecting a 3.6% increase from the previous year. Their portfolio remained robust with a 99.1% lease rate, and they successfully collected 99.1% of base rents. Investment activities included $404.8 million in acquisitions and developments, with a focus on industrial and retail properties. They also strategically disposed of clinical healthcare assets as part of their portfolio simplification strategy.
In capital markets activity, Broadstone Net Lease refreshed its ATM program, renewed its stock repurchase plan, and entered into forward interest rate swaps. The company ended the year with $1.9 billion in total debt and maintained a low leverage ratio with ample liquidity to support future growth.
Looking ahead, Broadstone Net Lease is optimistic about 2025, projecting an AFFO range between $1.45 and $1.49 per share. The company expects continued investment in real estate properties and aims to capitalize on their strong growth pipeline to drive future performance.
