Broadstone Net Lease Inc., a triple net real estate investment trust, reported its financial results for Q1 2025 with an annualized base rent of $401.3 million. The company's portfolio includes 769 properties across 44 states and 4 Canadian provinces, totaling 39.8 million rentable square feet with a high occupancy rate of 99.1%. Notably, the portfolio's composition is 59.8% industrial, 31.3% retail, and 8.9% other. Broadstone has made significant investment commitments amounting to $393.2 million, which include $255.8 million directed towards build-to-suit developments expected to be completed through 2026, $132.9 million in acquisitions under control, and $4.5 million intended for revenue-generating capital expenditures. The company reported a weighted average lease term (WALT) of 10.0 years and a 2.0% annual escalation. The company's rent collections remained strong at 99.1% for the first quarter. Broadstone's top tenant accounts for 4.0% of its portfolio, with the top ten tenants comprising 21.9% of the portfolio. The company maintains a stable credit rating, with an S&P rating of BBB and a Moody's rating of Baa2. Additionally, Broadstone Net Lease Inc. has a total revolver capacity of $1 billion, supporting its investment strategy and ongoing operations.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.