Broadstone Net Lease Announces $150M Stock Repurchase Authorization

ROCHESTER, N.Y.–(BUSINESS WIRE)–Broadstone Net Lease, Inc. (NYSE: BNL) announced today that its Board of Directors has authorized the repurchase of up to $150 million of its outstanding common stock under a stock repurchase program. The authorization will expire on March 14, 2024.

The stock may be repurchased from time to time in the open market (including trading plans that may be adopted in accordance with Rule 10b5-1 under the Securities Exchange Act of 1934, as amended), block purchases, privately negotiated transactions, or other means in accordance with federal securities laws and other legal requirements. Whether such purchases under the Program are made will depend on the Company’s evaluation of economic and market conditions, the Company’s stock price, applicable legal requirements, and other factors. The Program may be suspended or discontinued at any time at the Company’s sole discretion.

About Broadstone Net Lease, Inc.

BNL is a real estate investment trust that acquires, owns, and manages primarily single-tenant commercial real estate properties that are net leased on a long-term basis to a diversified group of tenants. The Company utilizes an investment strategy underpinned by strong fundamental credit analysis and prudent real estate underwriting. As of December 31, 2022, BNL’s diversified portfolio consisted of 804 individual net leased commercial properties with 797 properties located in 44 U.S. states and seven properties located in four Canadian provinces across the industrial, healthcare, restaurant, retail, and office property types.