NYSE$BNL
Broadstone Net Lease Inc · Q4 2021 earnings
Q4 2021 earnings · · Investor relations
Briefing
Announced fourth quarter and full year 2021 results, having successfully executed on key initiatives and positioned itself as a leading net lease REIT.
Broadstone Net Lease reported strong Q4 2021 results, with AFFO of $0.34 per share, representing a 9.2% increase over Q4 2020 annualized results.
- Invested $147.5 million in 36 properties at a weighted average initial cash capitalization rate of 6.0%.
- Collected 100% of base rents due for the fourth quarter, with occupancy remaining consistent quarter-over-quarter at 99.8%.
- Generated net income of $32.2 million, or $0.19 per share.
- Generated adjusted funds from operations (“AFFO”) of $58.7 million, or $0.34 per share.
Headline financials
Revenue & EPS history
Broadstone Net Lease · Revenue · Quarterly
$92.6M
Forward guidance
BNL expects to report AFFO of between $1.38 and $1.42 per diluted share for 2022.
Tailwinds
- Investments in real estate properties between $700 million and $800 million.
- Robust pipeline of acquisition opportunities
- Access to a diverse set of capital sources
- Prudent balance sheet management
- Strong fundamental credit analysis and prudent real estate underwriting
Headwinds
- Dispositions of real estate properties between $75 million and $100 million.
- AFFO per share is sensitive to the timing and amount of real estate acquisitions, property dispositions, and capital markets activities during the year.
- Risks and uncertainties related to the COVID-19 pandemic and its related impacts on us and our tenants.
- General economic conditions, including but not limited to increases in the rate of inflation and/or interest rates.
- Local real estate conditions, tenant financial health, property acquisitions, and the timing and uncertainty of completing these acquisitions, and uncertainties regarding future distributions to our stockholders.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q4 2021
-0.6%
Avg return
Earnings day
+0.2%
Avg return
5 days after
+1.2%
Avg return
30 days after
36%
8 / 22 earnings
Positive
+4.7%
Q1 2024
Best reaction
-5.2%
Q3 2022
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | -0.7% | -0.8% | +1.5% | |
| Q4 2025 | -4.2% | -1.2% | -4.5% | |
| Q3 2025 | -0.9% | +0.3% | -2.0% | |
| Q1 2025 | -2.0% | -1.3% | -1.7% | |
| Q4 2024 | +3.1% | +6.3% | +8.4% | |
| Q3 2024 | -2.3% | -2.6% | -2.7% | |
| Q2 2024 | -3.4% | -4.7% | +0.4% | |
| Q1 2024 | +4.7% | +5.8% | +5.4% | |
| Q4 2023 | -4.0% | -6.1% | -3.2% | |
| Q3 2023 | +1.5% | +4.5% | +16.2% | |
| Q2 2023 | -1.3% | -0.1% | -2.3% | |
| Q1 2023 | +0.1% | +1.5% | +0.4% | |
| Q4 2022 | -0.4% | -0.4% | -6.1% | |
| Q3 2022 | -5.2% | -4.3% | +0.0% | |
| Q2 2022 | -1.4% | -0.6% | -15.5% | |
| Q1 2022 | +2.3% | -0.5% | +6.9% | |
| Q4 2021 | -1.1% | +0.1% | -3.1% | |
| Q3 2021 | +0.7% | +0.0% | -8.1% | |
| Q2 2021 | +3.1% | +5.1% | +9.3% | |
| Q1 2021 | -0.5% | +0.2% | +16.5% | |
| Q4 2020 | -3.4% | -2.6% | -3.4% | |
| Q3 2020 | +1.7% | +4.9% | +13.3% | |
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| Q4 2016 | — | — | — | |
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| Q1 2016 | — | — | — |
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