Broadstone Net Lease Boosts Growth Plans With Nearly $700 Million In 2025 Investments – Broadstone Net Lease (NYSE:BNL)
Broadstone Net Lease Inc. (NYSE:BNL) released a year-end update and issued initial 2026 guidance on Monday, citing stable investment activity and a strong pipeline heading into the new fiscal year.
The real estate investment trust stated that its current momentum reflects disciplined capital deployment through December 1, 2025.
Outlook Strengthens Going Into 2026
The company reaffirmed its confidence in reaching its 2025 adjusted funds from operations (AFFO) targets and outlined expectations for next year, pointing to continued growth.
Chief Executive Officer John Moragne said Broadstone is well-positioned for long-term value creation, supported by a robust build-to-suit pipeline and access to capital. He added that the company’s upcoming Investor Day will give investors broader insight into its strategy and investment approach.
BNL invested about $697 million so far this year, including more than $416 million in property acquisitions and nearly $182 million in development spending.
The company also deployed capital for transitional improvements and revenue-generating upgrades with existing tenants.
Forward equity sales through its at-the-market program totaled approximately 621,000 shares, with expected proceeds of around $11.4 million.
Guidance for 2025 and 2026
The trust maintained its 2025 AFFO forecast of $1.49 to $1.50 per share versus the analyst consensus of $1.51.
Looking to 2026, BNL projects AFFO between $1.53 and $1.57 per diluted share, assuming $500 million to $625 million in property investments, $75 million to $100 million in asset sales, and core expenses of roughly $30 million to $32 million.
The company reported advancement across industrial and retail projects under construction in Texas, Georgia, Ohio, and California. Stabilized sites — including a Sarasota distribution property leased to UNFI — contributed to a portfolio that included 759 properties as of the third quarter.
BNL Price Action: Broadstone Net Lease shares were unchanged at $17.57 at the time of publication on Friday, according to Benzinga Pro data.
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