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Sep 30, 2020
Broadstone Net Lease Q3 2020 Earnings Report
Reported first quarterly results as a publicly-traded company, completed the initial public offering, executed a new revolving credit facility, and lowered the leverage ratio.
Key Takeaways
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.
Revenue by Geographic Location
Forward Guidance
The company expects that the transactions will close during the fourth quarter of 2020.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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