---
schema_version: "secwatch.filing_event.v1"
accession: "0000950170-23-017188"
form_type: "8-K"
ticker: "BNL"
cik: "0001424182"
company_name: "Broadstone Net Lease, Inc."
filed_at: "2023-05-03T23:59:59+00:00"
generated_at: "2026-06-16T00:47:49.191616+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0000950170-23-017188
- form_type: 8-K
- ticker: BNL
- cik: 0001424182
- company_name: Broadstone Net Lease, Inc.
- filed_at: 2023-05-03T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1424182/000095017023017188/0000950170-23-017188-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1424182/000095017023017188/bnl-20230503.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000950170-23-017188
- JSON: https://secwatch.observer/filing/0000950170-23-017188.json
- Plain text: https://secwatch.observer/filing/0000950170-23-017188.txt

## Key facts
- Earnings Releases
  Broadstone Net Lease, Inc. reported financial results for the quarter ended March 31, 2023.
  - Period: the quarter ended March 31, 2023
  - Result: reported results
  source text: 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.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1424182/000095017023017188/0000950170-23-017188-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.