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Broadstone Net Lease Q3 revenue and EPS miss estimates

By Reuters News


Overview

  • US industrial REIT's Q3 revenue rose but missed analyst expectations

  • Q3 EPS of $0.14 missed analyst expectations

  • AFFO per share grew 5.4% yr/yr, driven by portfolio performance


Outlook

  • Company raises 2026 real estate investment guidance to $700-$800 mln from $600-$800 mln

  • Company raises 2026 real estate disposition guidance to $150-$200 mln from $100-$150 mln

  • Broadstone Net Lease expects 2026 AFFO of $1.55-$1.57 per diluted share


Result Drivers

  • CONTRACTUAL RENT INCREASES - Co said same store rental revenue growth was driven by strong contractual rent increases and prior leasing activity

  • BUILD-TO-SUIT PIPELINE - Co highlighted a committed build-to-suit pipeline of $456 mln as supporting capital deployment and future growth

  • HIGH RENT COLLECTION - Co collected 99.9% of base rents due for the quarter for all properties under lease


Company press release:


Key Details

Metric

Beat/Miss

Actual

Consensus Estimate

Q3 Revenue

Miss

$121.87 mln

$123.63 mln (7 Analysts)

Q3 EPS

Miss

$0.14

$0.17 (4 Analysts)

Q3 FFO

$76.65 mln

Q3 FFO Per Share

$0.38


Analyst Coverage

  • The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 7 "strong buy" or "buy", 3 "hold" and no "sell" or "strong sell"

  • The average consensus recommendation for the commercial reits peer group is "buy"

  • Wall Street's median 12-month price target for Broadstone Net Lease, Inc. is $23.00, about 33.9% above its October 27 closing price of $17.18

  • The stock recently traded at 22 times the next 12-month earnings vs. a P/E of 27 three months ago


Reuters Recommended Reads

  • Oct 27 - Millrose Properties Q3 net income hits record; raises AFFO outlook

  • Oct 27 - WP Carey Q3 revenue beats estimates, raises annual AFFO forecast on strong investment activity

  • Oct 27 - STAG Industrial Q3 net income per share rises


For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.


(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)

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