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For Immediate Release May 4 , 2021 Company Contact : Michael Caruso SVP , Corporate Finance & Investor Relations michael.caruso@broadstone.com 585.402.7842 EXHIBIT 99.1 BROADSTONE NET LEASE , INC . Broadstone Net Lease Announces First Quarter 2021 Results ROCHESTER , N.Y. – Broadstone Net Lease , Inc. ( NYSE : BNL ) , an internally - managed real estate investment trust ( “ BNL , ” the " Company , ” “ we , ” “ our , ” or “ us ” ) , today announced its operating results for the quarter ended March 31 , 2021 . FIRST QUARTER 2021 HIGHLIGHTS 2021 AFFO guidance range raised to $ 1.28 to $ 1.34 per diluted share . Invested $ 87.3 million in 28 properties at a weighted average initial cash cap rate of 6.4 % with an additional $ 206.5 million of acquisitions under control . Collected 99.8 % of base rents due for the first quarter . Occupancy increased 50 basis points to 99.7 % . Incurred $ 10.6 million of general and administrative expenses , inclusive of $ 1.8 million of stock - based compensation , and $ 1.2 million of severance primarily related to the departure of an executive officer during the quarter . Received initial credit rating of ‘ BBB ' with stable outlook from S & P , reducing the applicable margin on our bank loans and Revolving Credit Facility by 25 basis points and 20 basis points , respectively . Moody's reaffirmed our ‘ Baa3 ' credit rating and updated their outlook from ' stable ' to ' positive ' . Repriced our 2026 Unsecured Term Loan , reducing the applicable margin by 60 basis points . Generated net income of $ 24.0 million , or $ 0.15 per share . Generated AFFO of $ 49.4 million , or $ 0.31 per share . Ended the quarter with total outstanding debt and Net Debt of $ 1.5 billion and a Net Debt to Annualized Adjusted EBITDA re ratio of 5.25x . Declared a quarterly dividend on April 30 , 2021 , of $ 0.255 per share to shareholders of record as of June 30 , 2021. This represents a 2.0 % increase in the dividend from the first quarter of 2021 . Announced that Denise Brooks - Williams and Michael A. Coke were nominated to serve as new Independent Directors commencing with the Company's upcoming annual meeting . MANAGEMENT COMMENTARY " BNL completed a highly productive first quarter that positions us well to meet our full year growth goals that we shared with the market in February , " said Chris Czarnecki , BNL's Chief Executive Officer . " We invested over $ 87 million in accretive acquisitions and continued to build a robust pipeline of attractive investment opportunities in the industrial , healthcare , and select retail property sectors with approximately $ 206.5 million of additional properties currently under control . Simultaneously , we continued to reap the benefits of strengthening our leverage and liquidity profile through our 2020 IPO and meaningfully reducing our cost of debt capital resulting from S & P's BBB initial credit rating and a repricing of an existing bank term note . Together with market leading portfolio performance , we recognized a meaningful growth in AFFO per share over the fourth quarter which was our baseline post IPO . Ultimately , strong