Broadstone Net Lease (BNL) AI Stock Analysis

• Market Cap: $3.00B
• Dividend Yield: 7.31%
• Average Volume (3M): 1.39M
• Price to Earnings (P/E): 26.7
• Beta (1Y): 0.43
• Revenue Growth: 0.73%
• EPS Growth: -37.65%
• Country: US
• Employees: 73
• Sector: Real Estate
• Sector Strength: 61
• Industry: REIT - Diversified
• EPS (TTM): 0.09
• Shares Outstanding: 189,080,200
• 10 Day Avg. Volume: 1,441,280
• 30 Day Avg. Volume: 1,391,794
• PEG Ratio: -0.87
• Price to Book (P/B): 1.01
• Price to Sales (P/S): 0.00
• P/FCF Ratio: 11.60
• Enterprise Value/Market Cap: 0.99
• Enterprise Value/Revenue: 1.71
• Enterprise Value/Gross Profit: 8.83
• Enterprise Value/Ebitda: 1.79
• 1Y Price Target: $18.60
• Price Target Upside: 17.42% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 5

• Rating: 66 Neutral
• Price Target: $17.00 ▲(7.32%Upside)

Broadstone Net Lease shows a stable financial position and strategic growth initiatives, but profitability challenges and macroeconomic uncertainties pose risks. Strong cash flow and dividend yield support the stock's attractiveness, though high valuation and tenant risks require caution.

Positive Factors

Development Strategy

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

Leverage and Liquidity

BNL's low leverage profile and strong liquidity position should provide considerable runway for the company to capitalize on acquisitions.

Portfolio Rationalization

Broadstone Net Lease has made significant progress on portfolio rationalization efforts, which has put the company in a highly favorable spot with improved growth prospects.

Negative Factors

Acquisition Timing

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.

Valuation Discount

BNL trades at a -14.0% discount on 2025 AFFOx compared to peers, despite having higher AFFOps growth expectations.

Broadstone Net Lease Business Overview & Revenue Model

Company Description

Broadstone Net Lease, Inc. (BNL) is a real estate investment trust (REIT) that specializes in acquiring, owning, and managing a diversified portfolio of primarily single-tenant commercial real estate properties across the United States. BNL focuses on properties that are subject to long-term net leases, which typically require tenants to cover property operating expenses such as taxes, insurance, and maintenance. The company's portfolio spans various sectors, including industrial, healthcare, retail, and office properties.

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. While operational efficiency remains strong, the company needs to address its revenue growth and profitability challenges to ensure long-term success.

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

Broadstone Net Lease Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 15.84
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For BNL, the sentiment is Negative. The current price of 15.84 is below the 20-day moving average (MA) of 15.97, below the 50-day MA of 15.85, and below the 200-day MA of 15.96, indicating a bearish trend. The MACD of -0.02 indicates Positive momentum. The RSI at 47.83 is Neutral, neither overbought nor oversold. The STOCH value of 41.51 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for BNL.

Broadstone Net Lease Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
EPRT	76 Outperform	$6.06B	26.35	6.33%	3.86%	25.79%	2.46%
OLP	74 Outperform	$506.17M	17.33	9.57%	7.68%	1.82%	-1.03%
WPC	74 Outperform	$13.89B	32.71	5.02%	5.50%	-5.89%	-26.36%
BNL	66 Neutral	$3.00B	26.70	3.79%	7.31%	0.73%	-37.65%
Sector *	66 Neutral	£957.08M	13.96	2.04%	185.02%	11.04%	38.13%
CTO	64 Neutral	$580.31M	36.87	-1.05%	8.63%	17.48%	-172.41%
GNL	57 Neutral	$1.59B	―	-13.01%	12.99%	16.69%	39.04%

Broadstone Net Lease Corporate Events

Broadstone Net Lease Announces New Development Projects

On July 24, 2025, Broadstone Net Lease announced the addition of three new build-to-suit development projects with a total investment of approximately $61.4 million. These projects, expected to be completed in the third quarter of 2026, include a new industrial distribution warehouse in Dallas for Palmer Distribution Services, a state-of-the-art facility in California for AGCO Corporation, and a new grocery store in Dallas for Sprouts Farmers Market. This expansion highlights Broadstone’s strategic growth in its build-to-suit strategy and strengthens its network of developer relationships.

The most recent analyst rating on (BNL) stock is a Buy with a $21.00 price target. To see the full list of analyst forecasts on Broadstone Net Lease stock, see the BNL Stock Forecast page.

Broadstone Net Lease 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.