BROADSTONE NET LEASE INC (BNL)
Real Estate · Net Lease REIT · NYSE
Broadstone Net Lease is a REIT focused on owning and managing a diversified portfolio of single-tenant, triple-net lease properties across industrial, retail, healthcare, and office sectors.
What BROADSTONE NET LEASE INC does
Broadstone Net Lease is a real estate investment trust (REIT) that acquires and manages a diversified portfolio of single-tenant, triple-net lease properties. The company focuses on industrial, retail, restaurant, healthcare, and office properties primarily located in the United States. Its business model relies on long-term leases where tenants are typically responsible for property-level expenses, such as taxes, insurance, and maintenance.
Themes: Triple-net leases, Diversified commercial real estate, Industrial logistics real estate, Healthcare real estate, Retail real estate
Fundamentals
- Price$18.26 as of 2026-10-09 close
- Market cap$3.5B as of 2026-07-24 (share count; price 2026-10-09)
- 1-year return-0.4% 2025-10-09 close $18.34 → 2026-10-09 close $18.26
- P/E24.94 as of 2026-10-09
- Net margin+21.2% FY2025, SEC XBRL
- ROE+3.2% FY2025, SEC XBRL
- Debt / equity0.93 as of 2026-09-03
- Revenue growth (YoY)+7.7% as of 2026-09-03
- Revenue CAGR (3y)+3.7% SEC XBRL
- Beta0.36 as of 2026-09-03
- Last reported earnings2026-07-29 SEC EDGAR Form 8-K (Item 2.02)
Dividend: yield +6.0%; at least 3 years of non-decreasing per-share dividends (SEC XBRL) — we do not hold the year before it, so the real streak may be longer.
How BNL compares in its sector
- price-to-earnings ratiomiddle range 120 covered Real Estate peers, as of 2026-10-09
- net profit marginmiddle range 154 covered Real Estate peers, as of 2026-09-03
- return on equitymiddle range 158 covered Real Estate peers, as of 2026-09-03
- 3-year revenue CAGRmiddle range 155 covered Real Estate peers
- indicated dividend yieldmiddle range 140 covered Real Estate peers, as of 2026-09-03
- free cash flow (absolute dollars, latest fiscal year)middle range 41 covered Real Estate peers, as of FY2025
Position among covered Real Estate companies that report each metric (minimum 5 peers). A relative position within our covered catalog — not a valuation, quality, or investment judgment. A higher percentile is simply a higher value (for P/E, more expensive on earnings — never "better"). Informational only.
Top 10 scores & list membership
BNL is not currently in any published Top 10 list. Its scores are below.
Top 10 score
45.4 #981 of 1,383 scored · #45 of 87 in Real Estate
Valuation 71st (price to book 1.2, price to earnings 24.9) and financial health 67th (free cash flow margin 59.4%, debt to equity 0.9); weakest is profitability (23rd, return on equity 3.2%).
Scores as of 9 Oct 2026. Each bar is a percentile: how this company ranked against every company the score ranked, 0–100. A list is a published formula and its output, not a recommendation. Method version 4.
Dividend coverage (FY2025)
Exceeded at least one reported measure. In FY2025, BNL's dividend exceeded at least one reported measure of what it earned or generated (earnings payout 227%, free-cash-flow payout 81%). A payout above 100% in one year is not necessarily unsustainable, but it is not fully covered by that measure.
- Earnings payout227% dividends / net income
- Free-cash-flow payout81% dividends / (operating cash flow − capex)
Coverage derived from reported SEC EDGAR XBRL figures for FY2025 (dividends paid vs. net income and free cash flow, same fiscal year). This describes PAST coverage for one fiscal year — it does not predict whether a dividend will be maintained, raised, or cut, and a one-year payout ratio can be distorted by non-recurring items. Informational only — not financial advice.
How BROADSTONE NET LEASE INC looks technically
BROADSTONE NET LEASE INC (BNL) is trading 7.8% below its 200-day average, the long-term trend line — a long-term downtrend. Its 50-day average crossed above its 200-day average about 280 trading days ago — a "golden cross", a bullish long-term signal. A strong downtrend is in place — ADX, a 0–100 trend-strength gauge, is 48, with sellers in control. Momentum is beaten down — its 14-day RSI (a 0–100 momentum gauge) is 28, in oversold territory (below 30). MACD, a trend-momentum gauge, turned bullish about 1 trading day ago (its momentum flipped positive). It made a new 20-day low about 2 trading days ago. It is 21.0% below its highest point of the past year.
Trend
8
| Distance from the 200-day | it is trading 7.8% below its 200-day average, the long-term trend line — a long-term downtrend | -7.8% |
|---|---|---|
| 50-day moving average | its average price over the last 50 trading days — a short-term trend line — is $20.18 | $20.18 |
| 200-day moving average | its average price over the last 200 trading days — the long-term trend line — is $19.81 | $19.81 |
| Swing structure | its recent peaks and dips disagree — one of them is rising while the other is not, so there is no clean up or down pattern in the swings | mixed — one of the two is not confirming |
| Last swing turn | its last significant turn was a swing high 44 calendar days ago — the swings before that are what the structure reading is measured on | 44 sessions |
| Wave structure | its recent swings can be read as a completed three-part upward correction — a pullback in the A-B-C shape Elliott-wave chartists use; the labelling fails if price closes above 21.58. It is the only labelling that fits, though not with textbook proportions, and it describes the swings already printed, not what comes next. | possible three-wave upward correction, complete (atypical proportions) |
| Since the 50/200 cross | its 50-day average crossed above its 200-day average about 280 trading days ago — a "golden cross", a bullish long-term signal | 280 sessions |
| Trend strength (14-day ADX) | a strong downtrend is in place — ADX, a 0–100 trend-strength gauge, is 48, with sellers in control | 47.8 |
Momentum
3
| 14-day RSI | momentum is beaten down — its 14-day RSI (a 0–100 momentum gauge) is 28, in oversold territory (below 30) | 28.2 |
|---|---|---|
| Position in its 14-day range | it is trading in the lower half of its 14-day range ($17.93 to $19.37) — its "stochastic" reading is 23 out of 100, where 0 would mean closing exactly at the 14-session low and 100 exactly at the high. This measures WHERE the price sits inside its recent range, which is a different question from the RSI beside it: RSI is a momentum gauge, measuring how FAST the price has been moving, so a stock can drift quietly to the bottom of its range with an ordinary RSI, or fall sharply and still sit in the middle. It has been climbing within that range over the last few sessions. | 22.7 |
| Since the MACD crossed zero | MACD, a trend-momentum gauge, turned bullish about 1 trading day ago (its momentum flipped positive) | 1 session |
Range
12
| 52-week high | its highest closing price over the past year (about 252 trading days) was $23.10 | $23.10 |
|---|---|---|
| From the 52-week high | it is 21.0% below its 52-week high (its highest price of the past year) | -20.9% |
| Above the 52-week low | it is 6.4% above its 52-week low (its lowest price of the past year) | +6.4% |
| Below the 52-week high | it is 21.0% below its highest point of the past year | 20.9% |
| Since a 20-day breakout | it made a new 20-day low about 2 trading days ago | 2 sessions |
| Since a 55-day breakout | it made a new 55-day low about 2 trading days ago | 2 sessions |
| All-time high | its highest closing price on record is $28.00 (set on 2021-09-03) | $28.00 |
| Given back of the 52-week move | over the past year its closes ranged ($17.26 to $22.84), and it has given back almost all of its rise from last year’s low — 82% of it. Chart-watchers call 61.8%-65% given back the "golden pocket" — for this company that is $19.21 to $19.39. It is watched widely enough that orders cluster there, which is the honest reason it matters; it is not a forecast. | 82.1% |
| From the all-time high | it is 34.8% below its all-time high | -34.8% |
| Nearest price level | it is trading 1.6% above a support level at $17.96 — a price it turned at four times since 2025-10-13, most recently on 2026-04-01. Since 2024-10-09 it has 6 such levels below the current price and 4 above. Levels like these describe where the price has reversed or paused before; they are not a forecast of where it will go. | -1.6% |
| All-time low | its lowest closing price on record is $13.68 (set on 2023-10-27) | $13.68 |
| Above the all-time low | it is 33.5% above its all-time low | +33.5% |
Volatility
5
| Band width vs its own 6 months | day-to-day price swings are about average versus its own recent 6-month history | 66th percentile |
|---|---|---|
| Typical daily range | in a typical session it travels about $0.3505 between its high and its low — about 1.9% of its price. That is its "average true range" over the last 14 sessions, which also counts the distance from the previous close, so a day that opens well away from yesterday counts as the large move it was | $0.3505 |
| Bollinger bands (20-day, ±2σ) | most of its recent trading has stayed between about $17.80 and $20.01 — the "Bollinger bands", a range drawn two standard deviations either side of its 20-day average price, which widens when the stock gets more volatile and narrows when it settles | $17.80 – $18.90 – $20.01 |
| Typical daily range (% of price) | its price moves about 1.9% in a typical session — among the calmest in the catalog. This is the average gap between a session's high and low over the last 14 sessions, counting overnight moves, expressed against the current price so it can be compared with companies trading at any price | 1.9% |
| Stretch from the 200-day average | it is trading 4.4 daily ranges below its 200-day average price (7.8% below it in plain percentage terms) — a way of asking how far it has stretched from its own average in units of how far it normally moves in a day, so a calm company and a jumpy one can be compared on the same scale | 4.4 daily ranges below its 200-day average |
Volume
1
| Volume vs its 30-day average | trading volume is about normal versus its 30-day average | 0.81× |
|---|
Analyst
2
| Change in the average price target | analysts have cut their average price target by 0.4% since the prior reading | -0.4% |
|---|---|---|
| Change in the consensus rating | the analyst consensus rating has improved toward "buy" since the prior reading | 0.18 toward buy |
Candlestick patterns
4
| Since a doji | 2 sessions ago it opened and closed at almost the same price after trading through a wider range — a "doji", the classic picture of buyers and sellers finishing the session level | 2 sessions ago |
|---|---|---|
| Since a hammer | 1 session ago, after a stretch of decline, it sold off hard during the session and then closed back near its high — a "hammer", the long lower wick showing the drop was bought back before the close | 1 session ago |
| Since a bullish engulfing | 8 sessions ago it opened below the previous session's close and finished above that session's open — a "bullish engulfing" pair, where one up day more than undid the down day before it | 8 sessions ago |
| Since a bearish engulfing | 1 session ago it opened above the previous session's close and finished below that session's open — a "bearish engulfing" pair, where one down day more than undid the up day before it | 1 session ago |
Price gaps
1
| Gap at the open | it opened on 2026-10-09 0.4% above the previous session's close — an overnight gap, the part of the move that happened while the market was shut, and traded back through that level before the close | +0.4% |
|---|
Price streaks
1
| Closing streak | it closed higher in its latest session, after a session that did not close higher — a single up day rather than a run | 1 session up |
|---|
Relative strength
4
| vs market, 1 month | over the past 1 month this stock lagged the market by 14.0 percentage points (the stock lost 11.8% while the market gained 2.1%) | -13.9% |
|---|---|---|
| vs market, 3 months | over the past 3 months this stock lagged the market by 19.1 percentage points (the stock lost 15.5% while the market gained 3.6%) | -19.1% |
| vs market, 6 months | over the past 6 months this stock lagged the market by 22.0 percentage points (the stock lost 7.5% while the market gained 14.5%) | -22.0% |
| vs market, 12 months | over the past 12 months this stock lagged the market by 16.4 percentage points (the stock lost 0.4% while the market gained 16.0%) | -16.4% |
Signal agreement
2
| Bullish technical signals | 3 of the 9 technical signals we can compute for it are currently in a bullish state: a "golden cross" — its 50-day average is above its 200-day, its RSI momentum gauge is oversold (a beaten-down reading), MACD momentum is positive — these describe past price behaviour, not a forecast | 3 of 9 |
|---|---|---|
| Bearish technical signals | 5 of the 9 technical signals we can compute for it are currently in a bearish state: trading below its 200-day average, a fresh 20-day low, a strong downtrend, with sellers in control, lagging the market over 6 months, trading below the Ichimoku cloud — these describe past price behaviour, not a forecast | 5 of 9 |
Trend (Ichimoku cloud)
1
| Vs the Ichimoku cloud | trading 14% below the Ichimoku cloud — a band drawn from where its own highs and lows sat up to 2026-09-02 and projected forward over today's price, the side traders read as an established downtrend, with the band above acting as the level that would have to be cleared. The band itself is moderate, spanning 2.4% of the share price. | -14.2% |
|---|
Volume-weighted price
2
| Vs this year’s average price paid | the price is 9% below the average price paid so far this year, so the typical buyer over that stretch is under water. That average is $19.97 — a volume-weighted average of daily closes over 189 sessions, not a true tick-by-tick VWAP. | -8.6% |
|---|---|---|
| Vs the average paid since it last reported | the price is 10% below the average price paid since it last reported on 2026-07-29 (its 10-Q), so the typical buyer over that stretch is under water. That average is $20.25 — a volume-weighted average of daily closes over 52 sessions, not a true tick-by-tick VWAP. | -9.8% |
Head and shoulders, bearish — broke down · entry $20.51 · 82 sessions in
Price levels it has turned at before
BNL last closed at $18.26 on 2026-10-09. Since 2024-10-09 it has turned at 6 prices below its last close and 4 above; the 3 nearest below and the 3 nearest above are listed, nearest first.
| Level | Side | Distance | Evidence |
|---|---|---|---|
| $17.96 | Support | 1.6% below the last close | turned there four times · 2025-10-13 to 2026-04-01 |
| $18.67 | Resistance | 2.3% above the last close | turned there 8 times · 2024-10-16 to 2026-03-05 |
| $17.60 | Support | 3.6% below the last close | turned there three times · 2024-11-29 to 2025-10-31 |
| $17.16 | Support | 6.0% below the last close | turned there 7 times · 2024-11-20 to 2026-01-02 |
| $19.69 | Resistance | 7.8% above the last close | turned there 7 times · 2026-02-17 to 2026-06-01 |
| $20.41 | Resistance | 11.8% above the last close | turned there six times · 2026-04-20 to 2026-09-01 |
A level is a price this company reversed or paused at more than once — they describe past behaviour, not a forecast of where the price will go.
Wave structure
Its recent swings can be read as a three-part upward correction — the A-B-C shape chartists use for a pullback — now complete.
This labelling fails — stops being a possible reading at all — if it closes above $21.58.
It is the only labelling that fits these swings, though its proportions are not the textbook ones. It was chosen from 3 labellings that survived the rules, counting shorter readings of the same bars.
This reading has stood for 35 trading days, since 2026-08-21.
Read from daily closes as of 2026-10-09.
An Elliott-wave count describes the swings already printed and the level that would disprove it. It is not a forecast, a target, or advice.
Screens: Trading below the 200-day moving average · Oversold (14-day RSI below 30) · Pulled back from the 12-month high · Broke down to a new 20-day low · MACD just crossed bullish (12/26/9) · lagging the market | Learn: moving average · golden cross · adx · rsi · macd · breakout · fifty two week high low
Based on daily closing prices as of 2026-10-09. Describes past price behavior only — informational, not financial advice.
Analyst consensus
- Consensus ratingBuy (1.64 mean, 1=Strong Buy…5=Strong Sell) — 10 analysts
- Mean price target$23.60 range $20.00 – $26.00; median $24.00
Analyst estimates, as of 2026-10-06. These are third-party analyst opinions and price targets, aggregated — not a recommendation, prediction, or advice from stocks-llm. Informational only.
Analyst EPS estimate for BNL
- Consensus EPS estimate$0.1584 next reporting period, as of 2026-10-06
- Estimate change, 30 days-$0.01246 (-7.3%) from $0.1709, on 2026-09-02, 34-day window
- Readings revised upward25% of 8 comparable readings
The consensus estimate for the next reporting period, and how it has moved between readings of that SAME period. A change is measured only between readings estimating one period — when a company reports, the consensus moves to the next quarter and the two numbers are not comparable. Informational only, not a forecast and not advice.
Key risks (from latest filing)
["Significant concentration of industrial, retail, and healthcare properties which may be subject to sector-specific economic downturns.","Reliance on debt financing, including unsecured credit facilities and term loans, making the company sensitive to interest rate fluctuations.","Potential for tenant defaults and the difficulty of re-leasing specialized properties under triple-net lease terms."]
What changed in the latest 10-Q
AI-assisted comparison of BNL's 10-Q filed 2026-07-29 against the prior one filed 2026-04-30.
Management's Discussion & Analysis (MD&A)
- Added:
- Newer filing (2026-07-29) changes 'build-to-suit and redevelopment projects' in the 'investments' definition; older filing (2026-04-30) had 'build-to-suit developments'
- Reworded:
- Portfolio property count changed from 773 properties, with 766 in 44 U.S. states and seven in four Canadian provinces (older, filed 2026-04-30, as of March 31, 2026) to 766 properties, with 759 in 44 U.S. states and seven in four Canadian provinces (newer, filed 2026-07-29, as of June 30, 2026)
- Notes:
- The newer filing text is truncated mid-sentence in the Overview section ('We expect to achieve growth in re...'), so subsequent MD&A content from the newer filing is not available for comparison
- The older filing text is truncated mid-sentence in the Overview section ('We expect to achieve growth in revenues and ear...'), so subsequent MD&A content from the older filing is not available for comparison
- Only the provided excerpts were compared; changes appearing in sections beyond the truncated text cannot be assessed
Risk Factors
- Removed:
- The older filing's Item 6 Exhibits list includes Exhibit 10.1 'Letter Agreement, effective February 20, 2026, by and among Broadstone Net Lease, Inc., Broadstone Net Lease, LLC, Broadstone Employee Sub, LLC, and John D. Moragne,' which is not present in the newer filing.
- The older filing's Item 6 Exhibits list includes Exhibit 10.2 'Form of Broadstone Net Lease, Inc. 2020 Omnibus Equity and Incentive Plan Restricted Stock Unit Award Agreement (2026 Form),' which is not present in the newer filing.
- Reworded:
- The Risk Factors text is identical between filings; it references the same Annual Report on Form 10-K for the year ended December 31, 2025, filed February 19, 2026, with no material changes.
- The signature date changed from April 30, 2026 in the older filing to July 29, 2026 in the newer filing.
- Notes:
- The provided text for both filings includes more than the Risk Factors section (Items 2-6, Exhibits, and Signatures); only these provided texts were compared.
- The page number following Item 5 changed from 52 in the older filing to 55 in the newer filing; this appears to be a pagination change only, not a substantive content change covered by the prompt.
AI-assisted comparison of two SEC filing sections. It describes wording and theme changes only, makes no materiality, legal, or investment judgement, and is not financial advice. Informational only — not financial advice.
Insider activity (SEC Form 4)
2 open-market purchases and 0 open-market sales by insiders in the last 90 days, of which we have read Form 4 filings through 2026-10-04. The 6 days since 2026-10-04 have not been checked yet.
- Last 90 days · read to 2026-10-042 buys ($211600) · 0 sells — 1 buying insider
- Last 180 days · read to 2026-10-042 buys ($211600) · 0 sells — 1 buying insider
Activity heuristic: net buying (a transparent product heuristic from the counts above, not a prediction or advice)
Most recent open-market transaction: 2026-08-21. Based on Form 4 filings read through 2026-10-04; anything filed since is not yet included.
View full insider trading history → View SEC Form 3/4/5 filingsAsk about BNL's insider activity →
Only open-market purchases (SEC code P) and sales (code S) are counted here. Option exercises, vesting/awards, gifts, and shares withheld for taxes are excluded — they are compensation or mechanical, not open-market conviction. Sales may be planned and non-discretionary (e.g. a Rule 10b5-1 plan) and are not necessarily bearish; open-market buying is not a recommendation to buy. Informational only — not financial advice.
Short interest (FINRA)
BNL had 20,145,672 shares of reported short interest as of the 2026-09-15 FINRA settlement date (delayed, bi-monthly; not real-time).
BNL had 10.5% of its shares outstanding sold short as of the 2026-09-15 FINRA settlement date (percent of FLOAT would be higher — float is not disclosed in the source). FINRA reported 11.56 days to cover at the same settlement.
- Reported short interest (shares) 20,145,672
- Short interest (% of shares outstanding) 10.5%
- Prior settlement (shares) 19,442,057
- Reported change 3.62%
- Days to cover (reported) 11.56
Reported to FINRA as of the 2026-09-15 settlement date. Short interest is reported to FINRA and published on a delayed, bi-monthly schedule (as of a settlement date, disseminated roughly eight business days later) — it is NOT real-time, does not cover every venue or all US trading, and is not a short-squeeze prediction or investment advice. Days-to-cover is the value FINRA reports; percent of float is not shown because the source file carries no share-count denominator — where a percent appears it is of shares OUTSTANDING, the larger base, and is therefore a floor on percent of float. Informational only — not financial advice.
Competitors & peers
- Realty Income (O)
- W. P. Carey (WPC)
- Agree Realty (ADC)
- National Retail Properties (NNN)
- Essential Properties Realty Trust (EPRT)
- STORE Capital (private)
AI-enriched competitor set. Linked names are companies covered by stocks-llm; other named peers are shown for reference only.
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Frequently asked questions
What does BROADSTONE NET LEASE INC (BNL) do?
Broadstone Net Lease is a real estate investment trust (REIT) that acquires and manages a diversified portfolio of single-tenant, triple-net lease properties. The company focuses on industrial, retail, restaurant, healthcare, and office properties primarily located in the United States. Its business model relies on long-term leases where tenants are typically responsible for property-level expenses, such as taxes, insurance, and maintenance.
What sector is BROADSTONE NET LEASE INC (BNL) in?
BROADSTONE NET LEASE INC (BNL) is classified in the Real Estate sector. Its industry is Net Lease REIT. It trades on NYSE.
Does BNL pay a dividend?
Yes — BROADSTONE NET LEASE INC (BNL) pays a dividend, with an indicated yield of about 6.04% and at least 3 years of non-decreasing per-share dividends (SEC EDGAR XBRL) — we do not hold the year before it, so the real streak may be longer (market data, as of 2026-09-03). Informational only — not financial advice.
Who are BROADSTONE NET LEASE INC's (BNL) competitors?
Notable peers of BROADSTONE NET LEASE INC (BNL) include Realty Income, W. P. Carey, Agree Realty, National Retail Properties and Essential Properties Realty Trust. This peer set is informational only — not financial advice.
Is BROADSTONE NET LEASE INC (BNL) overbought or oversold right now?
BROADSTONE NET LEASE INC (BNL) is currently in oversold territory (its 14-day RSI is 28, below 30) (as of 2026-10-09). RSI describes recent price momentum, not a forecast — informational only, not financial advice.
Where does stocks-llm's data on BNL come from?
Fundamentals come from SEC XBRL company filings for the figures marked with a fiscal year, and market data, as of 2026-09-03 for the rest; prices are market data, as of 2026-09-03; company filings and profile facts come from SEC EDGAR. All figures are delayed daily-close data shown with their as-of date — informational only, not financial advice.
Fundamentals: SEC XBRL company filings for the figures marked with a fiscal year, and market data, as of 2026-09-03 for the rest. Filings: SEC EDGAR. Prices are delayed daily-close data.
Last updated 2026-10-09.
Informational only — NOT financial advice. All figures are delayed daily-close data from SEC EDGAR & market data, shown with their as-of date.