Broadstone Net Lease (BNL) AI Stock Analysis

• Market Cap: $3.09B
• Dividend Yield: 7.16%
• Average Volume (3M): 1.81M
• Price to Earnings (P/E): 27.5
• Beta (1Y): 0.44
• Revenue Growth: 0.73%
• EPS Growth: -37.65%
• Country: US
• Employees: 73
• Sector: Real Estate
• Sector Strength: 53
• Industry: REIT - Diversified
• EPS (TTM): 0.09
• Shares Outstanding: 189,080,200
• 10 Day Avg. Volume: 1,603,085
• 30 Day Avg. Volume: 1,806,565
• PEG Ratio: 3.02
• Price to Book (P/B): 0.89
• Price to Sales (P/S): 0.00
• P/FCF Ratio: 12.26
• Enterprise Value/Market Cap: 1.54
• Enterprise Value/Revenue: 2.74
• Enterprise Value/Gross Profit: 14.14
• Enterprise Value/Ebitda: 2.86
• 1Y Price Target: $18.80
• Price Target Upside: 16.05% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 5

• Rating: 71 Outperform
• Price Target: $17.50 ▲(8.02%Upside)

Broadstone Net Lease's overall stock score is bolstered by its stable financial position and strategic growth initiatives. However, the recent net loss and high P/E ratio present challenges. The company's strong dividend yield and positive corporate developments, alongside favorable technical indicators, contribute positively to the score.

Positive Factors

Development Strategy

BNL offers a unique development strategy that if well-executed, will close its valuation gap.

Growth Strategy

BNL continues to add to build-to-suit development pipeline, achieving higher yields, and not pursuing thin margin acquisitions.

Negative Factors

Acquisitions

BNL acquired $59.0M of assets, which is below its previously-disclosed acquisitions under control, although this may be timing-related.

Credit Loss Guidance

BNL's 2025 guidance includes a 125 bps credit loss, largely due to specific tenants like Zips Car Wash and Stanislaus Surgical.

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 makes money primarily through the acquisition and management of single-tenant commercial properties that are leased on a long-term basis. The company generates revenue by collecting rent from its tenants, who are responsible for most property-related expenses under net lease agreements. This structure allows BNL to maintain a stable and predictable income stream with reduced operational costs. Additionally, the company focuses on properties in diverse sectors to mitigate risk and ensure a steady flow of income. BNL may also engage in strategic partnerships and financing arrangements that enhance its capacity to acquire and manage additional properties, further contributing to its revenue.

Broadstone Net Lease Financial Statement Overview

Summary

Broadstone Net Lease exhibits a stable financial position with strong cash flow generation and an improved balance sheet in terms of leverage. However, the recent net loss is a significant concern and highlights potential profitability issues.

Income Statement

Broadstone Net Lease shows a mixed performance in its income statement. The Gross Profit Margin remains strong, indicating efficiency in managing costs relative to revenue. However, the Net Profit Margin has declined significantly, with the company experiencing a net loss in the most recent year, which is concerning. Revenue growth has been inconsistent, with a decline in the most recent period. The EBIT and EBITDA margins demonstrate effective operational management, but the net loss is a critical weakness.

Balance Sheet

The balance sheet of Broadstone Net Lease is relatively robust with a strong equity base and no total debt in the most recent period, which reduces financial risk. The Debt-to-Equity ratio has improved significantly, reflecting a healthier leverage position. Return on Equity has turned negative due to the net loss, which is a concern. The Equity Ratio is strong, indicating a solid capital structure and financial stability.

Cash Flow

Cash flow analysis reveals a positive outlook for Broadstone Net Lease. The company has maintained strong Free Cash Flow and Operating Cash Flow, which supports sustainability. However, the Free Cash Flow Growth Rate has shown some volatility. The Free Cash Flow to Net Income ratio is high due to the net loss, indicating reliance on cash flow generation rather than profitability.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	436.16M	431.80M	442.89M	407.51M	382.88M	321.64M
Gross Profit	336.17M	407.06M	420.31M	385.74M	364.42M	304.16M
EBITDA	395.07M	369.07M	380.89M	354.10M	328.01M	272.45M
Net Income	96.58M	162.44M	155.48M	122.11M	102.43M	51.18M
Balance Sheet
Total Assets	5.24B	5.22B	5.27B	5.46B	4.62B	4.26B
Cash, Cash Equivalents and Short-Term Investments	4.38B	14.85M	19.49M	21.79M	21.67M	100.49M
Total Debt	0.00	1.91B	1.91B	2.02B	1.69B	1.54B
Total Liabilities	2.16B	2.07B	2.07B	2.20B	1.88B	1.78B
Stockholders Equity	2.95B	3.00B	3.05B	3.09B	2.58B	2.30B
Cash Flow
Free Cash Flow	259.19M	259.46M	224.82M	224.54M	243.34M	168.22M
Operating Cash Flow	276.85M	276.25M	271.07M	255.91M	244.94M	179.03M
Investing Cash Flow	-349.32M	-59.70M	24.34M	-859.64M	-582.30M	-60.24M
Financing Cash Flow	-139.27M	-221.19M	-334.82M	636.00M	254.41M	-28.38M

Broadstone Net Lease Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 16.20
• 50DMA: Positive
• 100DMA: Positive
• 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 Positive. The current price of 16.2 is above the 20-day moving average (MA) of 16.01, above the 50-day MA of 15.82, and above the 200-day MA of 16.07, indicating a bullish trend. The MACD of 0.12 indicates Negative momentum. The RSI at 60.16 is Neutral, neither overbought nor oversold. The STOCH value of 64.26 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for BNL.

Broadstone Net Lease Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
EPRT	78 Outperform	$6.30B	27.43	6.01%	3.77%	25.47%	-4.35%
OLP	74 Outperform	$528.20M	18.08	9.57%	7.43%	1.82%	-1.03%
WPC	74 Outperform	$13.87B	32.66	5.02%	5.68%	-5.89%	-26.36%
BNL	71 Outperform	$3.09B	27.49	3.79%	7.16%	0.73%	-37.65%
Sector *	65 Neutral	$1.98B	17.43	2.40%	5.22%	-0.31%	5.93%
CTO	57 Neutral	$577.67M	36.87	-1.05%	8.66%	17.48%	-172.41%
GNL	56 Neutral	$1.72B	―	-13.01%	9.86%	16.69%	39.04%

Broadstone Net Lease Corporate Events

Broadstone Net Lease to Announce Q2 2025 Results

On July 2, 2025, Broadstone Net Lease announced it will release its financial and operating results for the quarter ended June 30, 2025, after the market closes on July 30, 2025. The company will also host an earnings conference call and audio webcast on July 31, 2025. This announcement is significant for stakeholders as it provides insights into the company’s financial health and operational performance, potentially impacting its market position and investor confidence.

The most recent analyst rating on (BNL) stock is a Buy with a $19.00 price target. To see the full list of analyst forecasts on Broadstone Net Lease stock, see the BNL Stock Forecast page.

Broadstone Net Lease Expands Investments and Financial Strategy

On June 2, 2025, Broadstone Net Lease announced its recent business activities, highlighting investments of $171.7 million year-to-date in property acquisitions and developments, with a focus on industrial properties. The company also reported successful property dispositions, reducing its healthcare asset exposure, and increased its unsecured term loan to $500 million to optimize financial operations. Additionally, Broadstone’s CEO and CFO will participate in the Nareit REITweek 2025 Annual Conference, reflecting the company’s active engagement in industry events.

The most recent analyst rating on (BNL) stock is a Buy with a $19.00 price target. To see the full list of analyst forecasts on Broadstone Net Lease stock, see the BNL Stock Forecast page.

Broadstone Net Lease Expands with Prologis Partnership

On April 24, 2025, Broadstone Net Lease announced a significant addition to its build-to-suit development pipeline with a $78.2 million project in partnership with Prologis, Inc. This collaboration marks a strategic expansion of BNL’s network of development partners and aligns with its industrial-focused investment strategy. The new development includes a state-of-the-art distribution warehouse for FCA US, LLC, expected to be completed in the third quarter of 2026. This partnership with Prologis, a leader in high-barrier, high-growth markets, is expected to enhance BNL’s market positioning and long-term value creation.