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Jun 30, 2020
Broadstone Net Lease Q2 2020 Earnings Report
Broadstone Net Lease's Q2 2020 financial results were announced, highlighting revenue growth and strong portfolio metrics amidst the COVID-19 pandemic.
Key Takeaways
Broadstone Net Lease reported a 16.4% increase in revenues compared to Q2 2019, driven by portfolio growth and strong operating performance. The company collected 93.0% of second quarter base rents and maintained high occupancy rates despite the COVID-19 pandemic. They also reinstated quarterly distributions.
Revenues increased by 16.4% compared to the three months ended June 30, 2019.
Net income decreased by 1.4% compared to the three months ended June 30, 2019.
Adjusted Funds From Operations (AFFO) increased by 33.0% compared to the same period in 2019.
As of quarter end, 99.6% of properties were subject to a lease and were 99.5% occupied.
Forward Guidance
Due to the economic uncertainty and evolving circumstances related to the COVID-19 pandemic and the potential for further tenant requests for rent relief, the company continues to evaluate all options for strengthening its liquidity position.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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