BNL Q2 AFFO $0.36, revenue $105.9M; maintains 2024 AFFO guidance $1.41-$1.43

Broadstone Net Lease, Inc.

2024-Q2 EPS reported $0.53 revenue$211,274,000

Net income $35.9M ($0.19/sh); AFFO $70.4M ($0.36/sh), up from $0.35 in Q2 2023.
Revenue $105.9M, down 3.1% YoY; portfolio 99.3% leased with 777 properties.
Healthcare simplification: sold 5 properties for $30.8M in July; remaining 10 for $49.5M in Oct 2024.
2024 AFFO guidance unchanged $1.41-$1.43; investment range raised to $400-700M; G&A guidance lowered.
Entered $460M forward interest rate swaps at 3.73% fixed, hedging revolver and replacing maturing swaps.

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