| Metric | Value ($ M) | Q2 FY25 | Q3 FY24 |
|---|---|---|---|
| Revenue | 114.17 | 1.0% | 5.3% |
| Total Income | 114.17 | 1.0% | 5.3% |
| Expenditure | 63.42 | 8.2% | 15.7% |
| PBT | — | ||
| Net Profit | 26.47 | 31.3% | 25.7% |
| OPM | — | ||
| NPM | 23.18% | 5.34pp | 9.67pp |
| EPS | 0.14 | 27.3% | 26.3% |
Broadstone Net Lease Announces Q3 2025 Results
04 May 2026 · 4 May, 8:36 am
Summary
Broadstone Net Lease announced its third-quarter 2025 results, reporting a net income of $27.1 million, or $0.14 per diluted share. Adjusted Funds From Operations (AFFO) increased by 5.7% to $74.3 million, or $0.37 per diluted share. The company invested $203.9 million in acquisitions and development projects during the quarter, and the portfolio was 99.5% leased. Due to year-to-date success, the company raised its full-year guidance to $1.49 to $1.50 of AFFO per share.
Key Highlights
- 1
Broadstone Net Lease generated net income of $27.1 million, or $0.14 per diluted share, in the third quarter of 2025.
- 2
Adjusted Funds From Operations (AFFO) increased by 5.7% to $74.3 million, or $0.37 per diluted share, compared to the same period last year.
- 3
The company invested $203.9 million in acquisitions and development projects during the quarter.
- 4
Broadstone Net Lease's portfolio was 99.5% leased based on rentable square footage at the end of the quarter.
- 5
The company collected 100.0% of base rents due for the quarter for all properties under lease.
- 6
Full-year guidance for AFFO per share was raised to $1.49 to $1.50, representing 4.2% to 4.9% growth for the year.
- 7
Subsequent to quarter end, the company invested $119.6 million, bringing total year-to-date investment activity to $552.6 million.
Management Comments
John Moragne
"Our strong third-quarter results reflect the continued success of our differentiated growth strategy as well as the deep expertise and strategic acumen of our team," said John Moragne, BNL's Chief Executive Officer. "This quarter we invested $204 million in an attractive pipeline of accretive acquisitions and development projects, collected 100% of our rents, resolved both the At Home and Claire's situations with all leases assumed and no bad debt incurred from either, and secured 1.2% sequential quarterly growth in contractual rental obligations. As a result, and reflecting our year-to-date success and our ongoing commitment to driving long-term shareholder value, we are raising our full-year guidance to $1.49 to $1.50 of AFFO per share, representing 4.2% to 4.9% growth for the year. We are proud of what we have accomplished so far but are no less determined to push BNL even higher."
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