Broadstone Net Lease Sees Profits Increase with $60.1M Investment and $69.4M in Property Sales in Q2
June 6, 2023
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Broadstone Net Lease ($NYSE:BNL), a leader in the net lease real estate investment trust (REIT) sector, announced a successful second quarter that saw profits increase through substantial investments and property sales.
Additionally, Broadstone sold four properties for a total of $69.4M. The company focuses on single-tenant properties leased to corporate, healthcare and government tenants on a long-term basis. Broadstone’s geographic diversity includes investments in retail, office and industrial properties in addition to its investments in medical office buildings, primarily located near major metropolitan markets across the United States. The company’s success in the second quarter is reflective of an overall trend of growth in the net lease sector. Broadstone’s focus on diversification and prudent investment strategy has provided a steady growth in profits and ROI for investors.
Price History
On Monday, Broadstone Net Lease (BNL) saw its stock open at $16.1 and close at $15.9, representing a 1.4% decrease from its prior closing price of 16.1. BNL’s investments were spread across a variety of sectors, with a focus on medical office buildings, industrial properties, and retail centers. The company was able to generate a strong return on investment due to an attractive blend of long-term leases that offer stable annual cash flows along with the potential for sharing in growth opportunities from the properties it has acquired. The company’s property sales were also successful, with BNL selling a portfolio of five medical office properties for a total of $69.4M.
This generated an attractive return on investment for the company and provided an opportunity to redeploy capital to other investments. Overall, BNL’s $60.1M investment and $69.4M in property sales during Q2 of the year helped to increase profits for the company and is reflective of their continued commitment to making strategic investments that generate strong returns. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for BNL. More…
| Total Revenues | Net Income | Net Margin |
| 432.66 | 134.34 | – |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for BNL. More…
| Operations | Investing | Financing |
| 255.91 | -859.64 | 636 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for BNL. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 5.34k | 2.1k | 16.45 |
Key Ratios Snapshot
Some of the financial key ratios for BNL are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| – | – | 47.9% |
| FCF Margin | ROE | ROA |
| – | – | – |
Analysis
At GoodWhale, we’ve conducted an in-depth analysis of BROADSTONE NET LEASE’s financials. Our Risk Rating system found that this is a medium risk investment, with both financial and business factors taken into consideration. After careful review, we detected two risk warnings in the balance sheet and cashflow statement. If you’d like to see the full report for yourself, register on goodwhale.com. We believe that armed with the right information, investors have the power to make informed decisions and protect their investments. More…
Peers
The commercial real estate sector is extremely competitive, with many companies vying for the same tenants and properties. Broadstone Net Lease Inc is no exception, and must compete with the likes of Inland Real Estate Income Trust Inc, Emirates Properties REIT, and Balkan and Sea Properties Reit-Varna. While each company has its own strengths and weaknesses, they all share one common goal: to be the best in the business.
– Inland Real Estate Income Trust Inc ($OTCPK:INRE)
Inland Real Estate Income Trust Inc is a real estate investment trust that focuses on owning and operating income-producing real estate properties in the United States. As of December 31, 2020, the company owned and operated a portfolio of 104 properties, consisting of 97 retail properties, four office properties, and three industrial properties. The company was founded in 2010 and is headquartered in Oak Brook, Illinois.
– Emirates Properties REIT ($LTS:0NXF)
Balkan and Sea Properties Reit-Varna is a publicly traded real estate investment trust that focuses on properties in the Balkans and the Black Sea region. The company’s portfolio includes office, retail, and residential properties.
Summary
Broadstone Net Lease’s second quarter investment activity was impressive, with a total capital investment of $60.1 million. This investment was offset by the sale of four properties for a total of $69.4 million. These transactions demonstrate Broadstone’s ability to capitalize on favorable market conditions and generate strong returns. The company’s disciplined approach to investments and ability to identify and capitalize on value-add opportunities are the core of their success.
Their process of selecting long-term tenants in key markets also allows them to minimize risk and provide stability to investors. This analysis highlights the strength of Broadstone’s investment portfolio and outlook for continued success in the quarters ahead.
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