Broadstone Net Lease (BNL) AI Stock Analysis

• Market Cap: $3.34B
• Dividend Yield: 6.56%
• Average Volume (3M): 1.80M
• Price to Earnings (P/E): 38.2
• Beta (1Y): 0.21
• Revenue Growth: 3.87%
• EPS Growth: -37.59%
• Country: US
• Employees: 73
• Sector: Real Estate
• Sector Strength: 53
• Industry: REIT - Diversified
• EPS (TTM): 0.14
• Shares Outstanding: 189,216,030
• 10 Day Avg. Volume: 1,958,322
• 30 Day Avg. Volume: 1,797,140
• PEG Ratio: -15.92
• Price to Book (P/B): 0.99
• Price to Sales (P/S): 6.89
• P/FCF Ratio: 11.46
• Enterprise Value/Market Cap: 1.79
• Enterprise Value/Revenue: 13.33
• Enterprise Value/Gross Profit: 14.07
• Enterprise Value/Ebitda: 16.48
• 1Y Price Target: $20.40
• Price Target Upside: 15.45% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 8
• EPS Forecast (FY): 0.54
• Revenue Forecast (FY): $450.22M

• Rating: 61 Neutral
• Price Target: $18.50 ▲(4.70% Upside)

Broadstone Net Lease's overall stock score reflects a mix of stable financial performance and positive earnings call sentiment, tempered by bearish technical indicators and valuation concerns. The company's strong dividend yield and strategic growth initiatives provide a positive outlook, but investors should be cautious of potential downside risks indicated by technical analysis.

Positive Factors

Strategic Growth Plans

BNL's strategic focus on growth through its portfolio and acquisitions emphasizes sustainable growth and strong stakeholder relationships, positioning it well for long-term success.

Successful Investment Strategy

BNL's investment in accretive acquisitions with favorable capitalization rates supports long-term revenue growth and enhances its property portfolio.

Strong Capital Market Activity

The successful bond offering strengthens BNL's capital structure, providing financial flexibility for future growth and stability.

Negative Factors

Declining Profitability

Decreasing profitability could hinder BNL's ability to reinvest in growth and maintain dividend payouts, affecting long-term financial health.

Limited Product Supply

Limited supply and competition in property acquisitions may restrict BNL's growth opportunities and impact its ability to expand its portfolio.

Decline in Free Cash Flow Growth

Reduced free cash flow growth could limit BNL's capacity for future investments and affect its ability to sustain dividend payments.

Broadstone Net Lease Business Overview & Revenue Model

Company Description

BNL is an internally-managed REIT 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 September 30, 2020, BNL's diversified portfolio consisted of 627 properties in 41 U.S. states and one property in Canada across the industrial, healthcare, restaurant, office, and retail property types, with an aggregate gross asset value of approximately $4.0 billion.

How the Company Makes Money

Broadstone Net Lease generates revenue primarily through rental income from its portfolio of commercial properties. The company enters into long-term net lease agreements with tenants, where the tenants are responsible for most property expenses, including taxes, insurance, and maintenance. This structure allows BNL to maintain a relatively low operating cost while benefiting from stable cash flow. Additionally, BNL may earn income through property appreciation and potential lease escalations over time. The company may also engage in strategic acquisitions to expand its portfolio, which can enhance revenue growth. Key partnerships with reputable tenants in various sectors contribute to its earnings stability, as these tenants often have strong financial profiles.

Broadstone Net Lease Financial Statement Overview

Summary

Broadstone Net Lease exhibits strong financial health with high profitability and efficient cash flow management. While there are some concerns regarding the declining net profit margin and return on equity, the company's stable balance sheet and positive cash flow trends provide a solid foundation for future growth.

Income Statement

Broadstone Net Lease shows strong profitability with consistently high gross profit margins around 94-95% and solid EBIT margins. However, the net profit margin has decreased in the TTM period compared to the previous year, indicating some pressure on net income. Revenue growth has been modest, with a slight decline in the most recent annual report but a positive trend in the TTM period.

Balance Sheet

The company's debt-to-equity ratio remains manageable, indicating a balanced approach to leveraging. However, the return on equity has seen a decline in the TTM period, suggesting reduced efficiency in generating returns from equity. The equity ratio is stable, reflecting a solid capital structure.

Cash Flow

Broadstone Net Lease demonstrates strong cash flow management with a high free cash flow to net income ratio, indicating efficient conversion of income into cash. The operating cash flow to net income ratio is robust, although it has decreased in the TTM period. Free cash flow growth is positive, showing improvement in cash generation capabilities.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	447.97M	431.80M	442.89M	407.51M	382.88M	321.64M
Gross Profit	424.52M	407.06M	420.31M	385.74M	364.42M	304.16M
EBITDA	362.26M	400.42M	380.89M	364.21M	328.01M	266.04M
Net Income	89.76M	162.44M	155.48M	122.11M	102.43M	51.18M
Balance Sheet
Total Assets	5.52B	5.22B	5.27B	5.46B	4.62B	4.26B
Cash, Cash Equivalents and Short-Term Investments	81.97M	14.85M	19.49M	21.79M	21.67M	100.49M
Total Debt	2.38B	1.91B	1.91B	2.02B	1.69B	1.62B
Total Liabilities	2.51B	2.07B	2.07B	2.20B	1.88B	1.78B
Stockholders Equity	2.88B	3.00B	3.05B	3.09B	2.58B	2.30B
Cash Flow
Free Cash Flow	249.28M	259.46M	224.82M	224.54M	243.34M	168.22M
Operating Cash Flow	278.84M	276.25M	271.07M	255.91M	244.94M	179.03M
Investing Cash Flow	-362.25M	-59.70M	24.34M	-859.64M	-582.30M	-60.24M
Financing Cash Flow	155.51M	-221.19M	-334.82M	636.00M	254.41M	-28.38M

Broadstone Net Lease Technical Analysis

• Technical Analysis Sentiment: Neutral
• Last Price: 17.67
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Positive
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For BNL, the sentiment is Neutral. The current price of 17.67 is below the 20-day moving average (MA) of 17.76, below the 50-day MA of 18.11, and above the 200-day MA of 16.70, indicating a neutral trend. The MACD of -0.17 indicates Negative momentum. The RSI at 46.84 is Neutral, neither overbought nor oversold. The STOCH value of 71.28 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for BNL.

Broadstone Net Lease Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
WPC	70 Neutral	$14.25B	39.33	4.36%	5.51%	5.59%	-34.75%
Sector *	65 Neutral	$2.17B	12.19	3.79%	4.94%	3.15%	1.96%
UE	64 Neutral	$2.61B	22.42	8.71%	3.87%	5.29%	-60.36%
BNL	61 Neutral	$3.34B	38.16	3.05%	6.56%	3.87%	-37.59%
AHH	61 Neutral	$556.26M	51.33	4.09%	9.01%	-39.94%	―
GNL	61 Neutral	$1.82B	―	-12.53%	10.21%	-28.94%	-28.24%
BRSP	60 Neutral	$769.32M	―	-3.58%	10.79%	-12.57%	70.50%

Broadstone Net Lease Corporate Events

Broadstone Net Lease Issues 2026 Guidance Update

On December 1, 2025, Broadstone Net Lease, Inc. announced a business update and issued guidance for 2026. The company reported significant investment activities in 2025, including $696.7 million in investments and the sale of shares for $11.4 million, with plans to continue this momentum into 2026. The company maintains its 2025 AFFO guidance and expects a 4.0% growth in AFFO for 2026. These updates reflect Broadstone’s strategic focus on disciplined execution and long-term value creation, positioning it well for future growth.

Broadstone Net Lease Unveils Strategic Growth Plans

On December 1, 2025, Broadstone Net Lease, Inc. released its December 2025 investor presentation, highlighting its strategic focus on growth through its in-place portfolio and acquisitions. The presentation, part of their Investor Day event, outlined the company’s plans and financial guidance for 2025 and 2026, emphasizing their commitment to sustainable growth and strong stakeholder relationships.

Broadstone Net Lease Completes MRO Facility at Dayton

On November 4, 2025, Broadstone Net Lease announced the substantial completion of the first maintenance, repair, and overhaul (MRO) facility at Dayton International Airport, which is part of a project supporting the U.S. Air Force. This development is significant as it marks a key milestone in Broadstone’s build-to-suit pipeline, with rent for the facility having commenced on November 1, 2025. Additionally, the company has expanded its pipeline by $21 million with new projects for Hobby Lobby and Academy Sports, expected to be completed in late 2026. These developments reflect Broadstone’s strategic growth in the real estate sector, enhancing its position in the market and potentially benefiting stakeholders through increased rental income and diversified property holdings.

Broadstone Net Lease to Announce Q3 2025 Results

On October 6, 2025, Broadstone Net Lease announced it will release its financial and operating results for the third quarter of 2025 on October 29, 2025. The company will hold an earnings conference call and webcast on October 30, 2025, to discuss these results, providing stakeholders with insights into its financial performance and operational strategies.

Broadstone Net Lease Closes $350M Senior Notes Offering

On September 26, 2025, Broadstone Net Lease, LLC successfully closed a $350 million public offering of 5.000% Senior Notes due 2032, guaranteed by Broadstone Net Lease, Inc. This strategic financial move is expected to strengthen the company’s capital structure and enhance its ability to manage existing and future unsecured indebtedness, potentially impacting its market position and stakeholder confidence positively.