Loading…
Broadstone Net Lease, Inc.
Broadstone Net Lease, Inc. (BNL) is listed on NYSE and classified in REIT - Diversified, part of the Real Estate sector. It is headquartered in Victor, United States and has 62 employees. The company is worth $3.74B and trades at 23.1x its earnings of the last twelve months; the median for its sector is 22.1x. Revenue was $454.14M in fiscal 2025, up 5.2% from the year before. Net income was $96.5M. The share price is 24.0% below its 52-week high of $23.10. It pays a dividend yielding 6.67%. 4 of the 38 superinvestors we track held it at the end of Q2 2026. The largest position belongs to Two Sigma (Two Sigma Investments), at $40.43M. In that quarter, 2 of them opened or added to the position and 1 reduced it. No open-market insider trades in it were filed over the last 30 days.
Written from the data on this page: SEC filings (13F, Form 4, annual reports) and market prices.
Year by year, from the annual reports; dividends from the payments themselves.
Bars are year-end balances; lines are what happened during the year.
Major managers that reported this stock in their latest 13F.
▼ -27.5% over 5Y.
today you would have $943.83▼ -5.6%
Dividends reinvested, splits accounted for. Past prices say what happened, not what will.
The last 6 closed years, each at that year’s closing price and reported numbers.
| Indicator | Median | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
| Year-end price | $17.37 | $15.86 | $17.22 | $16.21 | $24.82 | $19.58 | |
| P/E | 28.6x | 34.7x | 18.4x | 20.7x | 22.5x | 37.0x | 44.5x |
| P/S | 7.3x | 7.3x | 6.9x | 7.3x | 7.4x | 10.6x | 6.6x |
| P/B | 1.0x | 1.1x | 1.0x |
Seven formulas applied to the reported numbers, each with its assumption next to the result. None of them predicts a price.
Square root of 22.5 × earnings × book value. Blind to intangibles, so it undervalues software and brands.
Earnings growing 2.6% a year plus a 6.7% dividend yield. Growth capped at 25%.
Median P/E of 22.1 among peers in the sector.
Median P/E of 28.6 across this company’s own years on record.
Cash flow growing 2.6% a year for 10 years, discounted at 10%, then 2.5% forever.
This formula has no meaning here — usually a loss, negative cash flow, or a missing input.
Dividend growing 3.1% a year against a 8.7% required return, from the stock’s beta.
Companies of similar size in Real Estate, for comparison. The columns are the same ones above, in the same order.
| Stock | Price | P/E | P/B | Dividend yield | ROE | Market cap |
|---|---|---|---|---|---|---|
| SLGSl Green Realty Corp | $49.19 | — | 1.0x | 5.02% | -3.57% | $3.77B |
| IRTIndependence Realty Trust Inc | $15.17 | 84.3x | 1.1x | 4.75% | 1.26% | $3.67B |
| LXPLXP Industrial Trust | $61.09 | 60.5x | 1.9x | 4.58% | 3.50% | $3.6B |
| CDPCopt Defense Properties | $33.83 |
| 1.1x |
| 1.0x |
| 1.6x |
| 0.9x |
| EPS | $0.50 | $0.86 | $0.83 | $0.72 | $0.67 | $0.44 |
| Dividend yield | 6.58% | 6.68% | 7.28% | 6.50% | 6.66% | 4.13% | 1.97% |
| Payout | 142.47% | 232.00% | 134.30% | 134.94% | 150.00% | 152.99% | 87.50% |
| Profit margin | 28.36% | 21.25% | 37.62% | 35.11% | 29.97% | 26.75% | 15.91% |
| ROE | 3.96% | 3.33% | 5.41% | 5.10% | 3.95% | 3.97% | 2.23% |
Median of the years shown; P/E years above 200x are left out.
The average of the method families that answered, not of the seven numbers: four of the seven start from the same earnings per share.
6 methods answered, across 3 families.
Room for errors in the reported numbers.
-17.7% from the average.
Models, not forecasts, and not investment advice. How each formula works →
| 23.0x |
| 2.5x |
| 3.78% |
| 10.82% |
| $3.92B |
| JOEST JOE Co | $69.45 | 32.2x | 5.2x | 0.92% | 16.25% | $3.95B |
| MRPMillrose Properties, Inc. | $23.97 | 8.4x | 0.7x | 13.18% | 8.12% | $3.98B |