Broadstone Posts 5.4% AFFO Growth, Reaffirms $1.55–$1.57 2026 Guidance
BNL is trading near its 52-week low of $16.715 (0.9% above the low).
Summary
Q3 2026 AFFO grew 5.4% year over year and management kept 2026 AFFO guidance at $1.55–$1.57 per diluted share, the same range it raised in August, though Q3 revenue and EPS missed estimates. Q3 net income was $28.1 million, or $0.14 per diluted share, on revenues of $121.9 million, and the company invested $236.6 million while starting three build-to-suit projects totaling $325.8 million. The company also declared a $0.295 per share quarterly dividend and disclosed a $456.3M build-to-suit pipeline, which is the main source of future rent growth. Balance sheet carries $2.9B of debt at a pro forma net debt/EBITDAre of 5.4x, mid-range leverage that leaves room to fund development without new equity. The $259.3M raised through forward equity sales in August is now reflected as growth capital, though it converts to dilution when settled. Shares sit near the 52-week low of $16.715, so the reaffirmed outlook matters more than the growth rate itself — the stock is priced for little upside.
Updated with an SEC 8-K filing · What changed
Updates
· SEC 8-K — Broadstone's Q3 2026 net income was $28.1 million, or $0.14 per diluted share, on revenues of $121.9 million; it invested $236.6 million and started three build-to-suit projects totaling $325.8 million.
At the time of this announcement, BNL was trading at $16.86 on NYSE in the Real Estate & Construction sector, with a market capitalization of approximately $3.2B. The 52-week trading range was $16.72 to $23.10. This news item was assessed with neutral market sentiment and an importance score of 7 out of 10. Source: Wiseek News.