Broadstone Net Lease reported strong third-quarter results, with 97.9% rent collection and solid portfolio performance. The company completed its IPO, refinanced its credit facility, and reduced its leverage. Net income was $9.7 million, or $0.08 per diluted share, and AFFO was $47.1 million, or $0.38 per diluted share.
Completed initial public offering, generating net proceeds of $588.2 million.
Refinanced unsecured revolving credit facility, increasing capacity to $900.0 million.
Rent collection for the quarter was 97.9%, increasing to 98.5% for October.
Net income of $9.7 million, or $0.08 per diluted share.
The company expects that the transactions will close during the fourth quarter of 2020.
Visualization of income flow from segment revenue to net income
Analyze how earnings announcements historically affect stock price performance