Broadstone Net Lease (BNL) AI Stock Analysis

• Market Cap: $3.42B
• Dividend Yield: 6.48%
• Average Volume (3M): 1.57M
• Price to Earnings (P/E): 35.2
• Beta (1Y): 0.36
• Revenue Growth: 2.74%
• EPS Growth: -37.41%
• Country: US
• Employees: 73
• Sector: Real Estate
• Sector Strength: 53
• Industry: REIT - Diversified
• EPS (TTM): 0.10
• Shares Outstanding: 189,129,840
• 10 Day Avg. Volume: 1,327,491
• 30 Day Avg. Volume: 1,567,955
• PEG Ratio: N/A
• Price to Book (P/B): N/A
• Price to Sales (P/S): N/A
• P/FCF Ratio: N/A
• Enterprise Value/Market Cap: 1.59
• Enterprise Value/Revenue: 12.31
• Enterprise Value/Gross Profit: 13.03
• Enterprise Value/Ebitda: 14.32
• 1Y Price Target: $19.70
• Price Target Upside: 9.99% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 10

• Rating: 71 Outperform
• Price Target: $19.50 ▲(8.88% Upside)

Broadstone Net Lease's strong financial performance and positive earnings call sentiment are the primary drivers of its stock score. The company's robust cash flow management and strategic growth initiatives provide a solid foundation. However, technical indicators suggest caution due to overbought conditions, and the high P/E ratio indicates potential overvaluation.

Positive Factors

Stable Income Stream

Long-term net leases provide a stable and predictable income stream, as tenants cover most property-related expenses, reducing operational costs.

High Occupancy Rates

High occupancy and rent collection rates indicate strong demand for BNL's properties, ensuring steady cash flow and financial stability.

Build-to-Suit Pipeline

A strong build-to-suit pipeline supports future revenue growth and enhances BNL's property portfolio, aligning with strategic expansion goals.

Negative Factors

Tenant Credit Issues

Tenant credit issues can lead to potential revenue disruptions and increased financial risk, impacting BNL's cash flow and stability.

Competitive Acquisition Environment

A competitive acquisition environment may increase costs and reduce yields, challenging BNL's ability to expand its portfolio profitably.

Declining Net Profit Margin

A declining net profit margin indicates pressure on profitability, which could affect BNL's ability to generate sufficient returns over time.

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 demonstrates strong operational efficiency and cash flow management, with stable margins. However, reduced profitability and weak revenue growth are concerns, as well as increasing leverage.

Income Statement

The income statement shows a stable gross profit margin with the TTM at approximately 77.1%, slightly below the previous year's 94.3%. Net profit margin for the TTM is 22.1%, down from 37.6% in the prior year, indicating reduced profitability. Revenue growth is weak with a 1% decline from 2024 to TTM, reflecting challenges in revenue expansion. EBIT and EBITDA margins remain strong at about 49% and 90.6% respectively for TTM, indicating operational efficiency.

Balance Sheet

The balance sheet reflects moderate leverage with a debt-to-equity ratio of 0.69 in TTM, slightly higher than the previous year's 0.64. Return on equity is reasonable at 3.3%, although it has decreased from 5.4% in 2024, suggesting reduced profitability. The equity ratio is stable at 56.3%, indicating a solid equity base. However, the increase in total debt over the years poses a potential risk.

Cash Flow

Cash flow analysis reveals stable cash generation with operating cash flow to net income ratio at 2.87 in TTM, indicating strong cash flow relative to earnings. Free cash flow growth rate is marginal at -0.1% from 2024 to TTM, showing consistency but no growth. Free cash flow to net income ratio is high at 2.68, demonstrating efficient cash conversion.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	442.20M	431.80M	442.89M	407.51M	382.88M	321.64M
Gross Profit	417.93M	407.06M	420.31M	385.74M	364.42M	304.16M
EBITDA	380.04M	369.07M	380.89M	348.37M	328.01M	272.45M
Net Income	81.41M	162.44M	155.48M	122.11M	102.43M	51.18M
Balance Sheet
Total Assets	5.33B	5.22B	5.27B	5.46B	4.62B	4.26B
Cash, Cash Equivalents and Short-Term Investments	4.48B	14.85M	19.49M	21.79M	21.67M	100.49M
Total Debt	2.17B	1.91B	1.91B	2.02B	1.76B	1.62B
Total Liabilities	2.29B	2.07B	2.07B	2.20B	1.88B	1.78B
Stockholders Equity	2.91B	3.00B	3.05B	3.09B	2.58B	2.30B
Cash Flow
Free Cash Flow	261.86M	259.46M	224.82M	224.54M	243.34M	168.22M
Operating Cash Flow	281.95M	276.25M	271.07M	255.91M	244.94M	179.03M
Investing Cash Flow	-254.87M	-59.70M	24.34M	-859.64M	-582.30M	-60.24M
Financing Cash Flow	-25.00M	-221.19M	-334.82M	636.00M	254.41M	-28.38M

Broadstone Net Lease Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 17.91
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: Positive

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 17.91 is below the 20-day moving average (MA) of 18.47, above the 50-day MA of 17.41, and above the 200-day MA of 16.14, indicating a neutral trend. The MACD of 0.18 indicates Positive momentum. The RSI at 44.51 is Neutral, neither overbought nor oversold. The STOCH value of 9.53 is Positive, 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
WPC	77 Outperform	14.74B	44.23	4.09%	5.26%	0.23%	-41.66%
OLP	76 Outperform	476.06M	17.05	9.33%	8.28%	5.57%	-14.50%
EPRT	73 Outperform	5.86B	24.84	5.84%	4.01%	25.79%	2.46%
BNL	71 Outperform	$3.42B	35.23	3.32%	6.48%	2.74%	-37.41%
GNL	58 Neutral	1.78B	-6.63	-15.59%	11.51%	-11.06%	29.36%
CTO	52 Neutral	534.61M	-12.09	-5.58%	9.52%	22.26%	-328.46%
Sector *	65 Neutral	$2.17B	12.19	3.79%	4.94%	3.15%	1.96%

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.

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.

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.