Broadstone Net Lease Announces First Quarter 2026 Results and Adds $30 million to its Committed Pipeline of Build-to-Suit Developments

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Morgan Stanley on Broadstone Net Lease (BNL): 'the Tesla BTS win post-Q is a positive signal for the pipeline'

April 30, 2026 8:10 AM EDT

Morgan Stanley analyst Ronald Kamdem reiterated an Equalweight rating and $24.00 price target on Broadstone Net Lease (NYSE: BNL).

The analyst comments "1Q AFFO of $0.38 in-line with cons/Mse of $0.38. 26e AFFO guide reiterated $1.55 vs cons/MSe $1.55/$1.57; dividend of $0.2925 (+0.9% QoQ, +0.9% YoY). 26e Acquisition guide of 562.5mm (unch vs prior) and disposition guide of $87.5mn (unch vs prior); G&A guide of $30.5mn... More