Broadstone Net Lease, Inc. (NYSE: BNL) reported its financial results for the quarter ended September 30, 2026. The company generated net income of $28.1 million, or $0.14 per diluted share, which was consistent with the same period in the prior year. Funds From Operations (FFO) for the quarter was $76.7 million, or $0.38 per diluted share, while Adjusted Funds From Operations (AFFO) was $77.8 million, or $0.39 per diluted share, representing a 5.4% increase year-over-year.
During the third quarter, the company invested $236.6 million, including $63.8 million in new property acquisitions and $137.1 million in build-to-suit developments. It also sold three properties for gross proceeds of $12.5 million. As of September 30, 2026, the company owned a portfolio of 767 net leased commercial properties across 44 U.S. states and four Canadian provinces, comprising approximately 42.3 million rentable square feet.
In capital markets activity, Broadstone completed a public offering of 12,650,000 shares of common stock at $20.50 per share for estimated gross proceeds of approximately $259.3 million. The company also entered into a new $300 million senior unsecured delayed-draw term loan with an initial maturity of January 30, 2030. Additionally, the board of directors declared a quarterly dividend of $0.295 per share, payable on or before January 15, 2027.
Broadstone provided full-year 2026 guidance, expecting AFFO between $1.55 and $1.57 per diluted share. The company revised its investment and disposition assumptions for the year, expecting investments between $700 million and $800 million and dispositions between $150 million and $200 million.
