| Earnings Per Share |
Earnings per Share The following table summarizes the components used in the calculation of basic and diluted earnings per share (“EPS”): | | | | | | | | | | | | | | | | | | | | | | | | | (in thousands, except per share amounts) | For the Three Months Ended
June 30, | | For the Six Months Ended
June 30, | | 2025 | | 2024 | | 2025 | | 2024 | | Basic earnings: | | | | | | | | Net earnings attributable to Broadstone Net Lease, Inc. common shareholders | $ | 20,160 | | | $ | 35,329 | | | $ | 36,903 | | | $ | 100,443 | | | Less: earnings allocated to unvested restricted shares | (311) | | | (300) | | | (621) | | | (595) | | | Net earnings used to compute basic earnings per common share | $ | 19,849 | | | $ | 35,029 | | | $ | 36,282 | | | $ | 99,848 | | | | | | | | | | | Diluted earnings: | | | | | | | | | Net earnings used to compute basic earnings per common share | $ | 19,849 | | | $ | 35,029 | | | $ | 36,282 | | | $ | 99,848 | | | Add: net earnings attributable to OP Unit holders | 844 | | | 1,608 | | | 1,593 | | | 4,671 | | | | | | | | | | | | | | | | | | | Net earnings used to compute diluted earnings per common share | $ | 20,693 | | | $ | 36,637 | | | $ | 37,875 | | | $ | 104,519 | | | | | | | | | | | Weighted average number of common shares outstanding | 189,113 | | | 188,470 | | | 188,998 | | | 188,211 | | Less: weighted average unvested restricted shares (a) | (1,072) | | | (1,034) | | | (1,045) | | | (848) | | | Weighted average number of common shares outstanding used in basic earnings per common share | 188,041 | | | 187,436 | | | 187,953 | | | 187,363 | | Add: effects of restricted stock units (b) | 695 | | | 205 | | | 591 | | | 180 | | Add: effects of convertible OP Units (c) | 8,402 | | | 8,829 | | | 8,431 | | | 8,836 | | | Weighted average number of common shares outstanding used in diluted earnings per common share | 197,138 | | | 196,470 | | | 196,975 | | | 196,379 | | | | | | | | | | | Basic earnings per share | $ | 0.11 | | | $ | 0.19 | | | $ | 0.19 | | | $ | 0.53 | | | Diluted earnings per share | $ | 0.10 | | | $ | 0.19 | | | $ | 0.19 | | | $ | 0.53 | |
(a)Represents the weighted average effects of 1,071,049 and 1,035,110 unvested restricted shares of common stock as of June 30, 2025 and 2024, respectively, which will be excluded from the computation of earnings per share until they vest. (b)Represents the weighted average effects of shares of common stock to be issued as though the end of the period were the end of the performance period (see Note 13). (c)Represents the weighted average effects of 8,401,937 and 8,800,636 OP Units outstanding at June 30, 2025 and 2024, respectively.
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