Broadstone Net Lease Q1 AFFO $0.34 per share; affirms FY 2023 guidance $1.40-$1.42

Broadstone Net Lease, Inc.

2023-Q1 EPS reported $0.21 revenue$118,992,000

Invested $20M in three properties at 7.0% cap rate; sold six properties for $94.3M at 5.4% cap rate, reducing office exposure to 5.8%.
Net income $41.4M ($0.21 diluted EPS); AFFO $67.5M ($0.34 per share); revenue $119M.
Board authorized $150M share repurchase program; none repurchased in Q1; quarterly dividend $0.28 declared.
Affirmed FY 2023 AFFO guidance $1.40-$1.42 per share; investments $300-$500M; dispositions revised higher to $150-$200M.
Portfolio 99.4% leased, 801 properties; net debt to annualized adjusted EBITDAre 5.1x; no debt maturities until 2026.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Broadstone Net Lease, Inc. reported financial results for the quarter ended March 31, 2023.

Period: the quarter ended March 31, 2023
Result: reported results

Exact text from the filing

On May 3, 2023, Broadstone Net Lease, Inc. (the “Company”) issued a press release announcing its financial results for the quarter ended March 31, 2023.

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Broadstone Net Lease, Inc. filing history →

Source: SEC EDGAR

accession 0000950170-23-017188

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