Broadstone Net Lease slips after starting stock offering
06/08/2026 21:27
BUZZ-Broadstone Net Lease slips after starting stock offering ** Broadstone Net Lease BNL.N shares down 3.1% to $20.50 post-market after equity offering news
** Commercial REIT kicks off 11 mln share offering
** Expects to enter into forward sale agreements with bookrunners Morgan Stanley and JP Morgan
** Upon settlement of agreements, to occur no later than Sept 30, 2027, co intends to use net proceeds to fund investments, repay its revolver, among other purposes
** BNL finished down 0.2% at $21.16 on Thurs, up 22% YTD
** Co has ~191.9 mln shares outstanding for $4 bln market cap
** 7 of 10 analysts rate the stock 'strong buy" or "buy", 3 "hold"; median PT $23, per LSEG data
(Lance Tupper is a Reuters market analyst. The views expressed are his own)
((lance.tupper@tr.com 1-646-279-6380))
Recent news on Broadstone Net Lease
See all newsBrief: Broadstone Net Lease - Adds $23 Million To Build-To-Suit Development Pipeline - SEC Filing
U.S. STOCKS ON THE MOVE-SpaceX, Federal Realty, Celsius Holdings
U.S. STOCKS ON THE MOVE-Atlassian, Macerich, DoubleVerify
U.S. STOCKS ON THE MOVE-Cloudflare, Atlassian, Gold Miners
Broadstone Net Lease slips on $226 mln equity offering