Acquisition TimingBNL acquired $59.0M of assets, which is below its previously-disclosed acquisitions under control, although this may be timing-related.
Credit Loss GuidanceBNL's 2025 guidance includes a 125 bps credit loss, largely due to specific tenants like Zips Car Wash and Stanislaus Surgical.
Valuation DiscountBNL trades at a -14.0% discount on 2025 AFFOx compared to peers, despite having higher AFFOps growth expectations.