Broadstone Net Lease Q2 net income up 110%; announces $303M build-to-suit for Fortune 20 tenant; raises AFFO guidance

Broadstone Net Lease, Inc.

Net income $40.3M ($0.21 diluted EPS), up 110% YoY; AFFO $78.2M ($0.39/share), up 2.6% YoY.
Subsequent to quarter-end, started $303M build-to-suit development for Fortune 20 investment-grade tenant; year-one cash yield ~8.5%, straight-line yield ~11.6%.
Raised full-year 2026 AFFO per share guidance midpoint to $1.56 (range $1.55-$1.57); investment guidance raised to $600-$800M.
Entered new $300M term loan maturing 2030; amended pricing grids to reduce margin by 5 bps; sold 2.2M shares forward at $20.77 for $45.5M gross proceeds.
Quarterly dividend unchanged at $0.2925 per share; same-store rental revenue growth 2.2%; portfolio 100% leased with 9.3-year WALT.

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