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Dec 31, 2024
Broadstone Net Lease Q4 2024 Earnings Report
Broadstone Net Lease reported solid financial results for Q4 2024, with steady AFFO and net income growth.
Key Takeaways
Broadstone Net Lease delivered stable financial performance in Q4 2024, reporting net income of $27.6 million and AFFO of $70.5 million. The company maintained strong leasing activity with a 99.2% rent collection rate and continued its strategic investment and disposition efforts.
Generated net income of $27.6 million, or $0.14 per share.
AFFO of $70.5 million, or $0.36 per share.
Collected 99.2% of base rents due for the quarter.
Invested $23.0 million in build-to-suit developments.
Revenue by Geographic Location
Forward Guidance
Broadstone Net Lease expects steady growth in 2025, with AFFO guidance between $1.45 and $1.49 per share, driven by new investments and leasing activity.
Positive Outlook
- AFFO guidance set between $1.45 and $1.49 per share.
- Plans for $400 million to $600 million in real estate investments.
- Continued high rent collection rates projected.
- Low leverage with net debt to EBITDAre ratio of 5.0x.
- More than $200 million in build-to-suit developments scheduled for 2025-2026.
Challenges Ahead
- Potential impact from rising interest rates.
- Macroeconomic uncertainties affecting commercial real estate.
- Ongoing lease rollover risks.
- Fluctuations in tenant credit quality.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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