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Broadstone Net Lease, Inc. logo

Broadstone Net Lease, Inc.

BNL

NYSEReal EstateREIT - Diversified

Open in GoAI

Previous close

$21.12

−$0.09 · -0.42%

Aug 21, 4:00 PM ET

BNL company overview

Regular session · ET · Market data may be delayed.

GoAI snapshot

AI-powered factor overview

Jul 10, 2026

GoAI score

Buy

Favorable setup — positive multi-factor alignment

Valuation

75

Undervalued

Momentum

56

Neutral

Sentiment

69

Bullish

Risk resilience

80

Low Risk

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Company profile

Company website

Broadstone Net Lease, Inc. (BNL) operates as a self-managed Real Estate Investment Trust. Its strategy focuses on acquiring, owning, and overseeing primarily single-tenant commercial properties that are subject to long-term net leases with a varied tenant base. The company's investment approach is anchored by robust fundamental credit evaluations and judicious real estate underwriting. As of September 30, 2020, BNL's diverse portfolio comprised 627 properties. Geographically, these holdings span 41 U.S. states and one location in Canada, encompassing sectors such as industrial, healthcare, restaurant, office, and retail, with a cumulative gross asset value of approximately $4.0 billion.

Industry
REIT - Diversified
Sector
Real Estate
Headquarters
US
CEO
John D. Moragne
Listed since
Sep 17, 2020
Employees
62

Market position

Day range

Current $21.12

52-week range

Current $21.12

Open
$21.26
Previous close
$21.21
Volume
741.4K
0.36× average
Average volume
2.09M
Average daily volume
Market cap
4.05B USD
Beta
0.95
Market reference 1
50-day average
$21.4292
-1.44% below average
200-day average
$19.5437
+8.07% above average

Financials

Financial snapshot

Latest / TTM

Valuation & yield

P/E (TTM)
27.79×
P/B (TTM)
1.4×
P/S (TTM)
8.47×
Dividend yield
5.52%

Profitability & efficiency

Gross margin
43.19%
Operating margin
48.87%
Net margin
30.22%

Financial health

Debt / equity
0.95×

Financial statements

Margin trends

Profitability as a percentage of reported revenue.

Gross marginOperating marginNet margin
Gross, operating, and net margin trends54%41%29%16%Gross margin, FY2021: 26.24%Gross margin, FY2022: 18.96%Gross margin, FY2023: 24.16%Gross margin, FY2024: 23.17%Gross margin, FY2025: 23.52%Operating margin, FY2021: 51.13%Operating margin, FY2022: 47.33%Operating margin, FY2023: 49.60%Operating margin, FY2024: 48.52%Operating margin, FY2025: 49.70%Net margin, FY2021: 26.74%Net margin, FY2022: 28.47%Net margin, FY2023: 35.07%Net margin, FY2024: 35.61%Net margin, FY2025: 22.41%FY2021FY2022FY2023FY2024FY2025
Gross margin FY2021 26.24%. Gross margin FY2022 18.96%. Gross margin FY2023 24.16%. Gross margin FY2024 23.17%. Gross margin FY2025 23.52%. Operating margin FY2021 51.13%. Operating margin FY2022 47.33%. Operating margin FY2023 49.60%. Operating margin FY2024 48.52%. Operating margin FY2025 49.70%. Net margin FY2021 26.74%. Net margin FY2022 28.47%. Net margin FY2023 35.07%. Net margin FY2024 35.61%. Net margin FY2025 22.41%.

Income trends

Revenue

459.14M USD+4.64%

Operating income

228.2M USD+7.19%

Net income

102.91M USD-34.13%
Income trends across reported periods494.81M USD352.15M USD209.48M USD66.82M USDRevenue, FY2021: 383.22M USDRevenue, FY2022: 408.94M USDRevenue, FY2023: 448.09M USDRevenue, FY2024: 438.77M USDRevenue, FY2025: 459.14M USDOperating income, FY2021: 195.96M USDOperating income, FY2022: 193.56M USDOperating income, FY2023: 222.26M USDOperating income, FY2024: 212.89M USDOperating income, FY2025: 228.2M USDNet income, FY2021: 102.49M USDNet income, FY2022: 116.43M USDNet income, FY2023: 157.16M USDNet income, FY2024: 156.24M USDNet income, FY2025: 102.91M USDFY2021FY2022FY2023FY2024FY2025
Revenue FY2021 383.22M USD. Revenue FY2022 408.94M USD. Revenue FY2023 448.09M USD. Revenue FY2024 438.77M USD. Revenue FY2025 459.14M USD. Operating income FY2021 195.96M USD. Operating income FY2022 193.56M USD. Operating income FY2023 222.26M USD. Operating income FY2024 212.89M USD. Operating income FY2025 228.2M USD. Net income FY2021 102.49M USD. Net income FY2022 116.43M USD. Net income FY2023 157.16M USD. Net income FY2024 156.24M USD. Net income FY2025 102.91M USD.
Metric (USD)FY2025FY2024FY2023FY2022FY2021
Revenue459.14M USD438.77M USD448.09M USD408.94M USD383.22M USD
Cost of goods sold351.14M USD337.1M USD339.83M USD331.39M USD282.65M USD
Gross profit108M USD101.68M USD108.26M USD77.55M USD100.57M USD
Operating expenses−120.2M USD−111.22M USD−114M USD−116.01M USD−95.39M USD
Interest income389K USD994K USD512K USD44K USD17K USD
Interest expense94.47M USD74.08M USD80.05M USD78.65M USD64.15M USD
Depreciation and amortization164.09M USD156.18M USD158.63M USD154.81M USD132.1M USD
Operating income228.2M USD212.89M USD222.26M USD193.56M USD195.96M USD
Net income102.91M USD156.24M USD157.16M USD116.43M USD102.49M USD

Company facts updated Aug 24, 2026.

Analyst ratings

Third-party consensus; not a GoAI recommendation.

Rating distribution

13 ratings
Strong buy00%
Buy969%
Hold431%
Sell00%
Strong sell00%

Corporate actions

Annual dividends per share

Cash distributions grouped by calendar year; partial years are marked.

$1.16

2025 complete year+13.2% since 2021

2026 partial: $0.585

* Partial calendar year in the available dividend history.

Corporate action history

DividendUpcoming

Ex-dividend Sep 30, 2026

$0.2925

Quarterly

Record Sep 30, 2026 · Payment Oct 15, 2026

Dividend

Ex-dividend Jun 30, 2026

$0.2925

Quarterly

Record Jun 30, 2026 · Payment Jul 15, 2026

Dividend

Ex-dividend Mar 31, 2026

$0.2925

Quarterly

Record Mar 31, 2026 · Payment Apr 15, 2026

Dividend

Ex-dividend Dec 31, 2025

$0.29

Quarterly

Record Dec 31, 2025 · Payment Jan 15, 2026

Dividend

Ex-dividend Sep 30, 2025

$0.29

Quarterly

Record Sep 30, 2025 · Payment Oct 15, 2025

Dividend

Ex-dividend Jun 30, 2025

$0.29

Quarterly

Record Jun 30, 2025 · Payment Jul 15, 2025

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SPG

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DLR

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ETFs holding BNL

Funds reporting this stock among their holdings, ordered by reported position size.

iShares Core S&P Small-Cap ETF logoiShares Core S&P Small-Cap ETFIJR
Market value
247.51M
Weight
0.22%
AUM
111.19B USD
Expense ratio
0.06%
Price / 1D
$147.31+0.64%
Vanguard Real Estate ETF logoVanguard Real Estate ETFVNQ
Market value
156.06M
Weight
0.21%
AUM
73.1B USD
Expense ratio
0.13%
Price / 1D
$98.50-0.10%
Vanguard Morningstar Total Stock Market ETF logoVanguard Morningstar Total Stock Market ETFVTI
Market value
130.94M
Weight
0.01%
AUM
2.3T USD
Expense ratio
0.03%
Price / 1D
$378.24+0.44%
iShares Russell 2000 ETF logoiShares Russell 2000 ETFIWM
Market value
106.88M
Weight
0.13%
AUM
81.62B USD
Expense ratio
0.19%
Price / 1D
$299.96+0.77%
Vanguard Morningstar Small-Cap ETF logoVanguard Morningstar Small-Cap ETFVB
Market value
94.4M
Weight
0.05%
AUM
183.4B USD
Expense ratio
0.03%
Price / 1D
$304.76+0.64%
Vanguard Morningstar Small-Cap Value ETF logoVanguard Morningstar Small-Cap Value ETFVBR
Market value
59.95M
Weight
0.09%
AUM
68.3B USD
Expense ratio
0.05%
Price / 1D
$249.18+0.68%
Vanguard Extended Market ETF logoVanguard Extended Market ETFVXF
Market value
47.24M
Weight
0.05%
AUM
93.7B USD
Expense ratio
0.05%
Price / 1D
$245.53+0.82%
State Street SPDR Portfolio S&P 600 Small Cap ETF logoState Street SPDR Portfolio S&P 600 Small Cap ETFSPSM
Market value
39.55M
Weight
0.23%
AUM
17.03B USD
Expense ratio
0.03%
Price / 1D
$57.28+0.61%

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