Broadstone Net Lease Q3 AFFO $0.35/sh flat YoY; reaffirms FY AFFO guidance $1.41-$1.43

Broadstone Net Lease, Inc.

2024-Q3 EPS reported $0.72 revenue$319,670,000

Q3 revenue $108.4M (-1% YoY); net income $37.3M ($0.19) vs $52.1M ($0.26) in Q3 2023.
AFFO $70.2M ($0.35) vs $70.0M ($0.36) YoY; Core FFO $0.37/share flat.
Portfolio 99% leased; 99.1% rent collected; healthcare exposure reduced to <10% ABR after $339M YTD dispositions.
Development pipeline $418.8M remaining; sold 2.2M shares forward for $39M; net debt/EBITDAre 5.0x.
FY 2024 AFFO guidance reaffirmed $1.41-$1.43; investment narrowed to $400-600M; G&A lowered to $31-33M.

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