Broadstone Net LeaseNYSE: BNL

Broadstone Net Lease is an Industrial-focused Real Estate Investment Trust with 759 net leased properties. Their business collected 99% of base rents in the first quarter, cooling concerns in the commercial real estate industry. Furthermore, 99.2% of rentable square footage is in a lease, with only 3 of 759 properties vacant.

BNL has great business metrics and a safe financing structure. The market has underestimated BNL's value proposition. BNL has a clear path to double-digit total returns.

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Broadstone Net Lease is projected to see FFO growth in 2024 and plans to acquire additional industrial properties, potentially resulting in increased dividends. The trust's valuation has strengthened, making it an attractive long-term investment with favorable risk/reward potential. Its emphasis on industrial properties and rent escalators positions it well for FFO expansion and protection against inflation.

VICTOR, N.Y.--(BUSINESS WIRE)--Broadstone Net Lease Schedules First Quarter 2024 Earnings Release and Conference Call.

Broadstone Net Lease has a portfolio that's tilted towards industrial properties and offers an appealing 7.4% dividend yield. BNL has a long weighted-average lease term of 10.5 years and a high leased rate of 99.4%. The company is undergoing a portfolio transformation to reduce its exposure to healthcare and increase its focus on industrial properties.

Broadstone Net Lease is a small but promising net lease REIT with excellent operating metrics. BNL has a near-perfect occupancy rate of 99.4% and rent collections of 99.2%, along with a 10+ year WAULT and high rent coverage. The REIT plans to increase external growth through acquisitions and capital recycling, while also streamlining its focus on core net lease assets.

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