BNL reaffirmed full-year AFFO guidance of $1.53 to $1.57, exceeding its $1.17 annual dividend payout.
Broadstone Net Lease (BNL) reported Q1 2026 adjusted funds from operations (AFFO) of $0.38 per diluted share, a 5.6% year-over-year increase. The net-lease REIT operates 771 properties with 99.8% occupancy and a 9.6-year weighted average lease term.
Management reaffirmed full-year AFFO guidance of $1.53 to $1.57, which comfortably covers its $1.17 annual dividend. Shares closed at $21.62 on July 8, yielding 5.51%. CEO John Moragne described the year as off to a strong start.
The company’s diversified portfolio spans 44 U.S. states and four Canadian provinces, supporting dividend sustainability amid market volatility.