Broadstone Net Lease Q3 2024 Earnings Report
Key Takeaways
Broadstone Net Lease announced its Q3 2024 operating results, featuring investments of $93.9 million in new property acquisitions and development fundings. The company generated a net income of $37.3 million, or $0.19 per share, and an AFFO of $70.2 million, or $0.35 per share. The portfolio remained strong with 99.0% leased occupancy and 99.1% rent collection.
Invested $93.9 million, including $69.3 million in new property acquisitions and $24.6 million in development fundings.
Generated net income of $37.3 million, or $0.19 per share.
Generated adjusted funds from operations (AFFO) of $70.2 million, or $0.35 per share.
Collected 99.1% of base rents due for the third quarter for all properties under lease.
Broadstone Net Lease
Broadstone Net Lease
Forward Guidance
BNL expects to report AFFO of between $1.41 and $1.43 per diluted share for 2024.
Positive Outlook
- Investments in real estate properties between $400 million and $600 million.
- Dispositions of real estate properties between $350 million and $450 million.
- Total cash general and administrative expenses between $31 million and $33 million.