Broadstone Net Lease Q2 Earnings: $0.21 EPS Beats Consensus, 2.2% Same-Store Growth, Portfolio Fully Leased
BNL sits 40% above its 52-week low of $15.77.
Summary
Broadstone Net Lease posted Q2 2026 EPS of $0.21, beating consensus by $0.03, on revenue up 8.3% and same-store rental growth of 2.2%. The portfolio is nearly 100% leased with a 9.3-year weighted average lease term, and the company maintains an investment-grade balance sheet with leverage at 5.9x.
Key Events · Earnings and Guidance · BNL
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Q2 Earnings Beat
Net income reached $40.3 million, or $0.21 per diluted share, surpassing the $0.18 consensus estimate. Revenue climbed 8.3% year-over-year to $122.3 million, propelled by recent acquisitions and stabilized build-to-suit developments.
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Same-Store Growth & Portfolio Strength
Contractual rent escalations averaging 2.1% across 96.8% of leases drove same-store rental growth of 2.2%. Portfolio occupancy held at approximately 100.0%, supported by a weighted average remaining lease term of 9.3 years.
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Investment Activity & Development Pipeline
The first half of 2026 saw $263.4 million deployed, including $177.1 million in development projects. Remaining commitments total $163.8 million across 12 build-to-suit projects, with stabilization expected through November 2027.
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Balance Sheet & Liquidity
Pro Forma Net Debt to Annualized Adjusted EBITDAre stood at 5.9x, consistent with investment-grade ratings. Liquidity was bolstered by $542.1 million available on the revolving credit facility and $237.3 million remaining under the ATM equity program.
Analysis · BNL · Real Estate & Construction
A standout second quarter saw Broadstone Net Lease more than double its net income year-over-year to $40.3 million, fueled by an 8.3% revenue increase from recent acquisitions and stabilized developments. With the portfolio essentially fully leased under long-term contracts that include built-in rent escalators, cash flow visibility remains high. The balance sheet holds an investment-grade profile with leverage at 5.9x, and capital continues to flow into a $163.8 million development pipeline. This quarter underscores the REIT's capacity to compound earnings even in a high-rate environment through disciplined investment and active portfolio management.
How filings like this one have moved
In the 30 days to Oct 3, 2026, 28.9% of the 1668 measured filings Wiseek scored 7 moved their stock by 5% or more by the next session's close. The median move was -0.56%. These are measured outcomes after filings of this importance, not a forecast for this one.
Measured one observation per ticker per day, after exclusions. Current figures: Filing Impact Tracker · open dataset
At the time of this filing, BNL was trading at $22.15 on NYSE in the Real Estate & Construction sector, with a market capitalization of approximately $4.2B. The 52-week trading range was $15.77 to $23.10. This filing was assessed with positive market sentiment and an importance score of 7 out of 10.