Broadstone Net Lease, Inc. announces an Equity Buyback for $150 million worth of its shares.
May 01, 2024 at 04:11 pm EDT
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Broadstone Net Lease, Inc. (NYSE:BNL) announces a share repurchase program. Under the program, the company will repurchase up to $150 million of its outstanding common stock. The program is valid till March 2025.
Broadstone Net Lease, Inc. is an industrial-focused, diversified net lease real estate investment trust (REIT). The Company invests in primarily single-tenant commercial real estate properties that are net leased on a long-term basis to a diversified group of tenants. The Company leases industrial, healthcare, restaurant, retail, and commercial office properties under long-term lease agreements. It is focused on investing in real estate that is operated by single tenants in industries. It owns a portfolio of approximately 796 individual commercial properties with 789 properties located in 44 U.S. states and seven properties located in four Canadian provinces. Its portfolio comprises approximately 38.3 million rentable square feet of operational space and is diversified based on property type, geography, tenant, and industry. Its properties are occupied by over 220 different commercial tenants who operate 208 different brands that are diversified across 53 differing industries.