Every material Form 8-K Broadstone Net Lease filed with the SEC in 2024, read and summarized by AI: what happened, the key figures, whether it reads positive or negative for shareholders, and how big a deal it is (impact 1-5). Newest first; each brief links to its own page and to the filing on SEC.gov.
Broadstone Net Lease said its total estimated build-to-suit development commitments are now $246.5 million, to be funded through the second quarter of 2026, down from $418.8 million in its October 30, 2024 release. A prospective tenant for a large build-to-suit project in the pipeline changed its strategy after an unanticipated executive leadership change and chose not to proceed, including with the Company's transaction, which lowers the development growth pipeline shareholders had been counting on.
Total estimated build-to-suit commitments of $246.5 million, down from $418.8 million reported on October 30, 2024.
A prospective tenant shifted strategy after an unanticipated executive leadership change and declined a large build-to-suit transaction in the pipeline.
Of the $246.5 million, $125.4 million is for developments actively under construction and $121.1 million is additional development commitments.
CEO John Moragne, CFO Kevin Fennell and Brent Maedl will participate in Nareit REITworld 2024 in Las Vegas on November 19 and 20, 2024.
Broadstone Net Lease reported third quarter 2024 revenue of $108.4 million, down from $109.5 million a year earlier but up from $105.9 million in the prior quarter. Diluted earnings per share were $0.19, compared with $0.26 a year earlier, while AFFO was $70.2 million, or $0.35 per share. The company kept its 2024 AFFO per share guidance of $1.41 to $1.43 unchanged but lowered its expected real estate investment range to $400 million to $600 million.
Q3 2024 revenue $108.4 million, versus $109.5 million in Q3 2023 and $105.9 million in Q2 2024
Net income $37.3 million, or $0.19 per diluted share, versus $0.26 in Q3 2023
2024 AFFO per share guidance of $1.41 to $1.43 unchanged; investment assumption cut to $400 million to $600 million from $400 million to $700 million
Quarterly dividend of $0.29 declared on October 24, 2024, payable on or before January 15, 2025
Briefs are written by AI from the filing text (each brief's own page names the model) and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the model's reading of the filing for shareholders, not a price forecast. Not investment advice.
Only material 8-Ks get a brief: results, deals, executive changes, restructuring, impairments, delisting notices, restatements, cybersecurity incidents and other disclosed events. Routine filings (vote results, exhibits only) are skipped. Every Broadstone Net Lease filing is on SEC EDGAR ↗. 8-K briefs of other companies →