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$21.20 as of 2026-08-24 close
- Market cap$4.1B as of 2026-08-24
- 1-year return+16.2% 2025-08-22 close $18.24 → 2026-08-24 close $21.20
- P/E28.96 as of 2026-08-24
- Net margin+30.6% as of 2026-08-24
- Gross margin+87.9% as of 2026-08-24
- ROE+5.0% as of 2026-08-24
- Debt / equity0.93 as of 2026-08-24
- Revenue growth (YoY)+7.7% as of 2026-08-24
- Revenue CAGR (3y)+3.7% SEC XBRL
- Beta0.35 as of 2026-08-24
- Last reported earnings2026-07-29 SEC EDGAR Form 8-K (Item 2.02)
Dividend: yield +7.2%; 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 122 covered Real Estate peers, as of 2026-08-24
- net profit margintop 25% 161 covered Real Estate peers, as of 2026-08-24
- operating margintop 25% 161 covered Real Estate peers, as of 2026-08-24
- gross margintop 25% 156 covered Real Estate peers, as of 2026-08-24
- return on equitymiddle range 162 covered Real Estate peers, as of 2026-08-24
- 3-year revenue CAGRmiddle range 155 covered Real Estate peers
- indicated dividend yieldtop 25% 138 covered Real Estate peers, as of 2026-08-24
- free cash flow (absolute dollars, latest fiscal year)middle range 42 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.
Long-term score
51.9 #698 of 1,605 scored · #49 of 95 in Real Estate
Valuation 66th (price to book 1.4, price to earnings 29) and profitability 61st (operating margin 46.6%, return on equity 5%); weakest is financial health (37th, debt to equity 0.9).
Short-term score
48.1 #780 of 1,698 scored · #32 of 95 in Real Estate
Volume and participation 75th: trading volume is about normal versus its 30-day average; catalysts 48th: analysts have raised their average price target by 1.3% since the prior reading; weakest is setup 34th: no fresh 20-day breakout up or down.
Scores as of 24 Aug 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 3.
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 8.7% above its 200-day average, the long-term trend line — a longer-term uptrend. Its 50-day average crossed above its 200-day average about 247 trading days ago — a "golden cross", a bullish long-term signal. There is no clear trend right now — the price is choppy (ADX, a 0–100 trend-strength gauge, is 20, below the 25 that marks a real trend). Momentum is neutral — its 14-day RSI (a 0–100 momentum gauge) is 48, neither overbought (above 70) nor oversold (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 11 trading days ago.
Trend
8
| Distance from the 200-day | it is trading 8.7% above its 200-day average, the long-term trend line — a longer-term uptrend | +8.7% |
|---|---|---|
| 50-day moving average | its average price over the last 50 trading days — a short-term trend line — is $21.44 | $21.44 |
| 200-day moving average | its average price over the last 200 trading days — the long-term trend line — is $19.51 | $19.51 |
| 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 10 calendar days ago — the swings before that are what the structure reading is measured on | 10 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 21.46. 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 247 trading days ago — a "golden cross", a bullish long-term signal | 247 sessions |
| Trend strength (14-day ADX) | there is no clear trend right now — the price is choppy (ADX, a 0–100 trend-strength gauge, is 20, below the 25 that marks a real trend) | 19.8 |
Momentum
3
| 14-day RSI | momentum is neutral — its 14-day RSI (a 0–100 momentum gauge) is 48, neither overbought (above 70) nor oversold (below 30) | 48.0 |
|---|---|---|
| Position in its 14-day range | it is trading in the upper half of its 14-day range ($20.36 to $21.53) — its "stochastic" reading is 72 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. | 71.8 |
| 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 8.2% below its 52-week high (its highest price of the past year) | -8.2% |
| Above the 52-week low | it is 27.7% above its 52-week low (its lowest price of the past year) | +27.7% |
| Below the 52-week high | it is 8.2% below its highest point of the past year | 8.2% |
| Since a 20-day breakout | it made a new 20-day low about 11 trading days ago | 11 sessions |
| Since a 55-day breakout | it made a new 55-day high about 25 trading days ago | 25 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 ($16.60 to $22.84), and it has given back roughly a quarter of its rise from last year’s low — 26% of it. Chart-watchers call 61.8%-65% given back the "golden pocket" — for this company that is $18.78 to $18.98. It is watched widely enough that orders cluster there, which is the honest reason it matters; it is not a forecast. | 26.3% |
| From the all-time high | it is 24.3% below its all-time high | -24.3% |
| Nearest price level | it is trading 1.1% below a resistance level at $21.44 — a price it turned at three times since 2026-06-11, most recently on 2026-08-14. Since 2024-08-26 it has 10 such levels below the current price and 1 above. Levels like these describe where the price has reversed or paused before; they are not a forecast of where it will go. | +1.1% |
| 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 55.0% above its all-time low | +55.0% |
Volatility
5
| Band width vs its own 6 months | day-to-day price swings are about average versus its own recent 6-month history | 52nd percentile |
|---|---|---|
| Typical daily range | in a typical session it travels about $0.4247 between its high and its low — about 2.0% 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 | $0.4247 |
| Bollinger bands (20-day, ±2σ) | most of its recent trading has stayed between about $20.38 and $22.08 — 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 | $20.38 – $21.23 – $22.08 |
| Typical daily range (% of price) | its price moves about 2.0% 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 | 2.0% |
| Stretch from the 200-day average | it is trading 4.0 daily ranges above its 200-day average price (8.7% above 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 | 4.0 daily ranges above its 200-day average |
Volume
1
| Volume vs its 30-day average | trading volume is about normal versus its 30-day average | 0.99× |
|---|
Analyst
2
| Change in the average price target | analysts have raised their average price target by 1.3% since the prior reading | +1.3% |
|---|---|---|
| Change in the consensus rating | the analyst consensus rating is unchanged since the prior reading | unchanged |
Candlestick patterns
1
| Since a doji | today 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 | today |
|---|
Price gaps
2
| Gap at the open | it opened on 2026-08-24 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% |
|---|---|---|
| Gap filled | a 2.2% gap down opened on 2026-06-30 has been "filled" 36 sessions ago — price traded back through the level the gap left behind, and it took 2 sessions to close | 36 sessions ago |
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 8.5 percentage points (the stock lost 5.2% while the market gained 3.3%) | -8.5% |
|---|---|---|
| vs market, 3 months | over the past 3 months this stock beat the market by 1.5 percentage points (the stock gained 3.9% while the market gained 2.4%) | +1.5% |
| vs market, 6 months | over the past 6 months this stock lagged the market by 1.1 percentage points (the stock gained 10.0% while the market gained 11.1%) | -1.1% |
| vs market, 12 months | over the past 12 months this stock lagged the market by 2.1 percentage points (the stock gained 16.2% while the market gained 18.3%) | -2.1% |
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, trading above its 200-day average, MACD momentum is positive — these describe past price behaviour, not a forecast | 3 of 9 |
|---|---|---|
| Bearish technical signals | 2 of the 9 technical signals we can compute for it are currently in a bearish state: lagging the market over 6 months, trading below the Ichimoku cloud — these describe past price behaviour, not a forecast | 2 of 9 |
Trend (Ichimoku cloud)
1
| Vs the Ichimoku cloud | trading 0.1% below the Ichimoku cloud — a band drawn from where its own highs and lows sat up to 2026-07-17 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 3.4% of the share price. | -0.1% |
|---|
Volume-weighted price
2
| Vs this year’s average price paid | the price is 6% above the average price paid so far this year, so the typical buyer over that stretch is showing a gain. That average is $20.06 — a volume-weighted average of daily closes over 156 sessions, not a true tick-by-tick VWAP. | +5.7% |
|---|---|---|
| Vs the average paid since it last reported | the price is sitting right on the average price paid since it last reported on 2026-07-29 (its 10-Q), so the typical buyer over that stretch is roughly break-even. That average is $21.10 — a volume-weighted average of daily closes over 19 sessions, not a true tick-by-tick VWAP. | +0.5% |
Price levels it has turned at before
BNL last closed at $21.20 on 2026-08-24. Since 2024-08-26 it has turned at 10 prices below its last close and 1 above; the 3 nearest below and the nearest above are listed, nearest first.
| Level | Side | Distance | Evidence |
|---|---|---|---|
| $21.44 | Resistance | 1.1% above the last close | turned there three times · 2026-06-11 to 2026-08-14 |
| $20.34 | Support | 4.0% below the last close | turned there four times · 2026-04-20 to 2026-08-11 |
| $19.75 | Support | 6.8% below the last close | turned there six times · 2026-02-17 to 2026-06-01 |
| $19.20 | Support | 9.4% below the last close | turned there three times · 2024-09-18 to 2026-05-05 |
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 $21.46.
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 2 trading days, since 2026-08-21.
Read from daily closes as of 2026-08-24.
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 above the 200-day moving average · MACD just crossed bullish (12/26/9) · trendless / choppy (low ADX) · Analyst price target recently RAISED · Printed a doji candle · Least volatile (2% or less typical daily range) | Learn: moving average · golden cross · adx · rsi · macd · breakout
Based on daily closing prices as of 2026-08-24. Describes past price behavior only — informational, not financial advice.
Analyst consensus
- Consensus ratingBuy (1.82 mean, 1=Strong Buy…5=Strong Sell) — 10 analysts
- Mean price target$23.70 range $20.00 – $26.00; median $24.00
Analyst estimates, as of 2026-08-18. 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$0.1901 next reporting period, as of 2026-08-18
Change over time is not available yet: it needs two readings of the same reporting period at least 30 days apart, and we have been recording these estimates since 2026-08-04. An estimate for a DIFFERENT quarter is not a revision, so a reading from before the last report is never compared with one after it.
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 2026-04-30 against the prior one filed 2025-10-29.
Management's Discussion & Analysis (MD&A)
- Added:
- Reference to 2025 Annual Report on Form 10-K filed February 19, 2026 (newer filing 2026-04-30)
- Removed:
- Reference to 2024 Annual Report on Form 10-K filed February 20, 2025 (older filing 2025-10-29)
- Reference to Quarterly Report on Form 10-Q for quarter ended March 31, 2025 filed May 1, 2025 (older filing 2025-10-29)
- Text 'U.S. Securities and Exchange Commission ("SEC")' in Regulation FD Disclosures section replaced with 'SEC' (newer filing 2026-04-30)
- Reworded:
- Regulation FD Disclosures: Changed 'U.S. Securities and Exchange Commission ("SEC") filings' to 'SEC filings' (newer filing 2026-04-30)
- Portfolio composition date changed from 'As of September 30, 2025' to 'As of March 31, 2026' (newer filing 2026-04-30)
- Portfolio property count changed from '759 properties' to '773 properties' (newer filing 2026-04-30)
- U.S. properties count changed from '752 proper[ties]' to '766 properties' (newer filing 2026-04-30)
- Notes:
- Newer filing text is truncated at 'We expect to achieve growth in revenues and ear' and older filing text is truncated at 'As of September 30, 2025, our portfolio includes 759 properties, with 752 proper' - full scope of changes beyond these truncation points cannot be assessed
Risk Factors
- Reworded:
- Risk Factors section page number changed from 55 (filed 2025-10-29) to 52 (filed 2026-04-30)
- Financial statements reporting period changed from September 30, 2025 and December 31, 2024 (filed 2025-10-29) to March 31, 2026 and December 31, 2025 (filed 2026-04-30)
- Land asset value changed from $778,177 thousand (Sept 30, 2025) to $822,795 thousand (March 31, 2026)
- Buildings and improvements changed from $3,954,112 thousand (Sept 30, 2025) to $4,173,302 thousand (March 31, 2026)
- Property under development changed from $179,172 thousand (Sept 30, 2025) to $329,260 thousand (March 31, 2026)
- Total assets changed from $5,519,271 thousand (Sept 30, 2025) to $5,845,027 thousand (March 31, 2026)
- Unsecured revolving credit facility changed from $95,824 thousand (Sept 30, 2025) to $397,640 thousand (March 31, 2026)
- Unsecured term loans changed from $994,550 thousand (Sept 30, 2025) to $994,820 thousand (March 31, 2026)
- Senior unsecured notes changed from $1,190,315 thousand (Sept 30, 2025) to $1,191,143 thousand (March 31, 2026)
- Lease revenues changed from $114,167 thousand (Q3 2025) to $121,401 thousand (Q1 2026)
- Depreciation and amortization changed from $40,246 thousand (Q3 2025) to $41,526 thousand (Q1 2026)
- Provision for impairment changed from $6,999 thousand (Q3 2025) to $0 thousand (Q1 2026)
- Gain on sale of real estate changed from $3,259 thousand (Q3 2025) to $7,122 thousand (Q1 2026)
- Net income changed from $27,065 thousand (Q3 2025) to $46,392 thousand (Q1 2026)
- Net earnings per share changed from $0.14 (Q3 2025) to $0.24 (Q1 2026)
- Income statement now presents only three-month comparison (2026 vs 2025) whereas older filing included both three-month and nine-month comparisons
- Comprehensive income statement removed nine-month ended September 30 comparison data from 2026 filing
- Notes:
- The two filings compare different fiscal periods (Q1 2026 vs Q3 2025), making period-over-period comparisons reflect both operational changes and seasonal differences
- Financial statement line items show significant shifts in property under development and revolving credit facility usage that reflect operational activities rather than accounting policy changes
- The provision for impairment was $0 in Q1 2026 versus $6,999 thousand in Q3 2025, but this reflects period-specific assessments rather than a change in disclosure policy
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)
No open-market insider purchases or sales are on record for BNL — recent Form 4 activity was compensation-related (awards, option exercises, or tax withholding), not open-market buying or selling.
View full insider trading history → View SEC Form 3/4/5 filingsOnly 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 11,574,138 shares of reported short interest as of the 2026-07-31 FINRA settlement date (delayed, bi-monthly; not real-time).
BNL had 6.03% of its shares outstanding sold short as of the 2026-07-31 FINRA settlement date (percent of FLOAT would be higher — float is not disclosed in the source). FINRA reported 6.94 days to cover at the same settlement.
- Reported short interest (shares) 11,574,138
- Short interest (% of shares outstanding) 6.03%
- Prior settlement (shares) 12,395,520
- Reported change -6.63%
- Days to cover (reported) 6.94
Reported to FINRA as of the 2026-07-31 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 7.18% 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 2026-08-24). 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 neither overbought nor oversold — its 14-day RSI (a 0–100 momentum gauge) is 48, in the neutral middle (as of 2026-08-24). RSI describes recent price momentum, not a forecast — informational only, not financial advice.
Where does stocks-llm's data on BNL come from?
Fundamentals and prices come from market data, as of 2026-08-24; 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: market data, as of 2026-08-24. Filings: SEC EDGAR. Prices are delayed daily-close data.
Last updated 2026-08-24.
Informational only — NOT financial advice. All figures are delayed daily-close data from SEC EDGAR & market data, shown with their as-of date.