Broadstone Net Lease, Inc. (BNL)
Real Estate · NYQ · US
Price as at 30 Sept 2026, 16:37 UTC. Quotes are delayed.
Fundamentals
Valuation and ratings
Broadstone Net Lease, Inc. trades at $18.59, which is 57% below the $29.26 our fair value estimate puts on the business. On that measure alone it screens as undervalued, though a valuation model is an argument rather than a measurement, and the market is frequently right about why something is cheap.
Our moat model scores it 67 out of 100, which is a moat, but not a deep one. A moat is a structural reason competitors cannot take the profits away, and it matters more to a long holding period than any single quarter's numbers do.
It changes hands at 24.8 times earnings. Be careful reading that in isolation: for a cyclical business a low P/E arrives at the top of the cycle, when profits are peaking and about to fall, which is exactly when the shares look cheapest and are not.
BNL dividend history
Dividends per share by year
| Year | Total per share | Payments |
|---|---|---|
| 2026 (year to date) | $0.879 | 3 |
| 2025 | $1.16 | 4 |
| 2024 | $1.16 | 4 |
| 2023 | $1.12 | 4 |
| 2022 | $1.08 | 4 |
| 2021 | $1.02 | 4 |
| 2020 | $0.385 | 2 |
Split-adjusted amounts in the listing currency, grouped by the calendar year of the ex-dividend date, from the filed record. Growth and streak figures compare complete years only.
BNL earnings and analyst estimates
Recommendation mix, 11 published ratings
Estimates are the published analyst consensus and move often. An earnings date is scheduled, not certain, and a share tends to reprice most violently on the day itself.
About Broadstone Net Lease, Inc.
Broadstone Net Lease, Inc. is an industrial-focused, diversified net lease REIT that invests in primarily single-tenant commercial real estate properties that are net leased on a long-term basis to a diversified group of tenants. Utilizing an investment strategy underpinned by strong fundamental credit analysis and prudent real estate underwriting, as of June 30, 2026, BNL's diversified portfolio consisted of 766 individual net leased commercial properties with 759 properties located in 44 U.S. states and seven properties located in four Canadian provinces across the industrial, retail, and other property types. Broadstone Net Lease, Inc. was established and incorporated on October 18th, 2017, in Maryland and is based in Victor, New York.
Company profile, industry and headcount are as reported by our data provider and can lag a company's own filings by a reporting period. The annual report is the authority.
BNL passes 5 of our 30 screens today
Each screen prints the exact criteria it used, and the circumstances in which it is wrong.
Super investor ownership
7 of the funds we track reported a position in their latest SEC 13F filing. Largest first:
- Two Sigma, TWO SIGMA INVESTMENTS, LP$40.43M · 0.0% of book
- Renaissance Technologies, RENAISSANCE TECHNOLOGIES LLC$12.11M · 0.0% of book
- Ken Fisher, Fisher Asset Management, LLC$7.71M · 0.0% of book
- Cliff Asness, AQR CAPITAL MANAGEMENT LLC$7.52M · 0.0% of book
- Israel Englander, MILLENNIUM MANAGEMENT LLC$2.86M · 0.0% of book
A word of warning on reading these figures: a 13F reports the market value of a holding, so a fund that traded nothing at all still appears to have sold when the price fell. We found 102 companies where the standard reading gives the opposite answer. Only the share count is honest.
BNL peers
The largest companies in the same industry (REIT - Diversified), then in the same sector.
- WPC W. P. Carey Inc.
- CHC.AX Charter Hall Group
- AAT American Assets Trust, Inc.
- SAFE Safehold Inc.
- FVR FrontView REIT, Inc.
- AHRT AH REALTY TRUST INC
- WELL Welltower Inc.
- PLD Prologis Inc.
Every real estate company we cover is on the Real Estate hub.
Common questions
Is Broadstone Net Lease, Inc. (BNL) undervalued?
Against our fair value estimate of $29.26, BNL at $18.59 is 57% below fair value. That is one model's answer, not a recommendation. It is built from normalized earning power with growth capped deliberately low, which understates companies whose value is mostly future growth.
Which funds own BNL?
7 of the institutions we track reported a position in BNL in their most recent SEC 13F filing. A 13F is filed up to 45 days after quarter end, so it tells you what a fund held then, not what it holds now.
What is BNL's P/E ratio?
BNL trades at 24.8 times earnings. A low P/E is not automatically cheap: on a cyclical company it is usually a warning that earnings are at a peak.
Does Broadstone Net Lease, Inc. (BNL) pay a dividend?
Yes. Broadstone Net Lease, Inc. yields 6.20% at the current share price. It has paid $1.17 per share over the trailing twelve months. It has paid a dividend in each of the last 6 complete calendar years. A dividend is declared by the board and can be cut at any time; a yield is a fact about the current price, not a promise.
When does BNL report earnings next?
Broadstone Net Lease, Inc. is scheduled to report on 28 Oct 2026. Companies move earnings dates, so read it as scheduled rather than certain.
Where does SteadyShares get its BNL data?
Fundamentals for BNL come from company filings and exchange data, as listed on NYQ; institutional ownership comes from SEC 13F filings. The share price shown was last refreshed on 30 Sept 2026, 16:37 UTC and is delayed. Our data quality score for this company is 100/100, which is the share of the inputs behind our scores that were actually available rather than assumed. Metrics we do not hold are left out of the page rather than estimated.
The full research page for BNL, with financial statements, ownership detail, peer comparison and alerts, is free inside the app.
Data from company filings, exchange quotes and SEC EDGAR 13F disclosures. Quotes are delayed. Metrics we do not have are left out rather than estimated. Educational information, not financial advice.