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Broadstone Net Lease Investor Day 2025 Presentation summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Investor Day 2025 Presentation summary2 Dec, 2025
Strategic achievements and portfolio repositioning
Organizational restructuring in 2023 enhanced collaboration, operational efficiency, and data-driven decision-making, resulting in a more normalized fixed cost base and improved scalability through technology investments.
Streamlined focus by selling $352 million in clinical healthcare assets in 2024, reducing exposure to 2.4% of ABR, and redeploying proceeds to drive annualized base rent and AFFO growth.
Portfolio now features 61.2% industrial assets, up from 51.8% in 2023, with a weighted average lease term of 10.3 years and 2.2% average annual rent escalations.
Proactive credit monitoring and asset management have minimized lost rent and mitigated tenant risk, with 94% of lost rent since 2022 concentrated in disposed clinical healthcare assets.
Master lease structures and creative renewals have preserved value and provided flexibility during tenant bankruptcies and lease maturities.
Differentiated growth strategy and build-to-suit (BTS) development
Growth strategy is anchored on three pillars: in-place portfolio, BTS developments, and stabilized acquisitions, with a focus on long-term, relationship-based capital deployment.
BTS pipeline has scaled to $898 million in commitments since 2023, with $583 million in new commitments in 2025, providing $29.1 million in incremental ABR through Q1 2027.
BTS projects offer higher yields (average 7.5% initial cap rate, 8.9% straight-line yield) and value creation, with limited development risk due to in-place leases and contract structures.
Multi-channel sourcing and flexible capital allocation have enabled disciplined acquisitions, with 60% of stabilized investment volume since 2023 sourced through existing relationships.
Transitional capital investments and partnerships with developers have created a robust pipeline and optionality for future growth.
Financial guidance, capital management, and shareholder returns
2026 AFFO per share guidance is $1.53–$1.57, representing 4.0% growth at the midpoint, with embedded 2026 ABR growth of 7.0%–8.0%.
Projected NOI CAGR of 7.6% from 2024 to 2027, driven by in-place rent escalations, BTS rent commencements, and opportunistic acquisitions.
Balance sheet remains investment grade (BBB/Baa2), with pro forma leverage targeted at ~6.0x and $1.0 billion in corporate liquidity.
Dividend payout ratio targeted in the mid-70% range, with 13% cumulative dividend growth since 2021 and a current yield of 6.5%.
Total shareholder return since 2023 is 32.8%, outpacing peers, though valuation multiple remains below the peer average, providing potential for further appreciation.
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Next Broadstone Net Lease earnings date
Q4 202519 Feb, 2026
Next Broadstone Net Lease earnings date
Q4 202519 Feb, 2026
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Frequently asked questions
Broadstone Net Lease Inc is a real estate investment trust (REIT) that acquires and manages single-tenant commercial properties under long-term net lease agreements. Its portfolio includes industrial, healthcare, restaurant, office, and retail properties across the United States. The company’s strategy focuses on stable cash flows from tenants operating across diverse sectors. Broadstone Net Lease Inc is headquartered in Rochester, New York, and its shares are listed on the NYSE.
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