Broadstone Net Lease reports Q3 AFFO 37c, consensus 37c

Reports Q3 revenue $114.17M, consensus $113.77M. “Our strong third-quarter results reflect the continued success of our differentiated growth strategy as well as the deep expertise and strategic acumen of our team,” said John Moragne, BNL‘s Chief Executive Officer. “This quarter we invested $204 million in an attractive pipeline of accretive acquisitions and development projects, collected 100% of our rents, resolved both the At Home and Claire’s situations with all leases assumed and no bad debt incurred from either, and secured 1.2% sequential quarterly growth in contractual rental obligations. As a result, and reflecting our year-to-date success and our ongoing commitment to driving long-term shareholder value, we are raising our full-year guidance to $1.49 to $1.50 of AFFO per share, representing 4.2% to 4.9% growth for the year. We are proud of what we have accomplished so far but are no less determined to push BNL even higher.”