Broadstone Net Lease Reaffirms 2026 AFFO Guidance and Highlights Robust Development Pipeline
Broadstone Net Lease (BNL) reaffirmed its 2026 Adjusted Funds From Operations (AFFO) guidance at a midpoint of $1.56 per share during its third-quarter earnings call. The REIT is leveraging a build-to-suit strategy to drive growth, with a current development pipeline totaling $456 million across seven projects expected to increase annualized base rent by over 8% through 2027. To mitigate capital market volatility and interest rate risks, the company has secured $409 million in unsettled forward equity agreements. This liquidity covers the remaining $306 million required for its current development obligations. Additionally, management is nearing a decision regarding its 550-acre Triborough site in Pennsylvania, weighing options between a data center campus joint venture or an industrial complex.
Topics: AFFO Guidance Build-to-Suit Pipeline Quarterly Earnings Call Real Estate Investment Trust