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Broadstone Net Lease Inc

Broadstone Net Lease Inc

BNL · NYSE · Real Estate / REIT - Diversified

17.60USD+0.12 (+0.69%)

Price History

Full chart

Market Stats

Previous Close17.48
Open17.63
Day Range17.47 – 17.71
52-Week Range16.42 – 23.10
Volume1.35M
Market Cap4.02B
P/E (TTM)24.87
Forward P/E24.63
EPS0.76
Dividend Yield6.19%
Beta0.94
50-Day Avg21.04
200-Day Avg19.82

About

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 Details

  • SectorReal Estate
  • IndustryREIT - Diversified
  • CEOMr. John D. Moragne J.D.
  • Employees62
  • Headquarters207 High Point Drive, Victor, NY, United States, 14564, USA
  • Websitehttps://www.broadstone.com

Leadership

  • Mr. John D. Moragne J.D.CEO & Director · b. 1983
  • Mr. Ryan M. Albano CPAPresident & COO · b. 1982
  • Mr. Kevin M. FennellExecutive VP, CFO & Treasurer · b. 1987
  • Ms. Jennie O'BrienSenior VP & Chief Accounting Officer · b. 1984
  • Mr. Michael B. CarusoSenior Vice President of Real Estate Operations · b. 1994
  • Brent MaedlDirector of Corporate Finance & Investor Relations
  • Ms. Molly Kelly WiegelSenior VP of Human Resources & Administration · b. 1972
  • Mr. John D. Callan Jr.Senior VP, General Counsel & Secretary · b. 1986
  • Mr. William D. GarnerSenior Vice President of Acquisitions · b. 1985

Financials

Income Statement

Currency: USD2014-12-312015-12-312016-12-312017-12-312018-12-312019-12-312020-12-312021-12-312022-12-312023-12-312024-12-312025-12-31
Total Revenue68.15M98.09M142.87M181.56M237.48M298.81M323.71M383.22M408.94M448.09M438.77M459.14M
Growth (%)-+43.92%+45.66%+27.08%+30.80%+25.83%+8.33%+18.38%+6.71%+9.57%-2.08%+4.64%
Cost of Revenue42.76M64.86M100.48M136.02M185.67M241.88M284.12M282.65M331.39M339.83M337.10M351.14M
Gross Profit25.39M33.23M42.39M45.54M51.80M56.93M39.59M100.57M77.55M108.26M101.67M108.00M
Gross Margin37.25%33.88%29.67%25.08%21.81%19.05%12.23%26.24%18.96%24.16%23.17%23.52%
Operating Expense-12.92M-19.10M-21.25M-41.95M-58.80M-81.50M-100.16M-95.39M-116.01M-114.00M-111.22M-120.20M
Operating Income38.31M52.33M63.64M87.49M110.61M138.43M139.75M195.96M193.56M222.26M212.89M228.20M
Operating Margin56.22%53.35%44.54%48.19%46.58%46.33%43.17%51.13%47.33%49.60%48.52%49.70%
EBITDA54.70M72.88M114.26M149.34M209.13M267.69M253.38M296.88M354.07M430.11M423.02M377.21M
EBITDA Margin80.26%74.30%79.98%82.25%88.06%89.58%78.27%77.47%86.58%95.99%96.41%82.16%
Net Income15.78M19.29M36.35M54.80M69.38M79.39M51.18M102.49M116.42M157.16M156.24M102.91M
Net Income Margin23.15%19.66%25.45%30.18%29.21%26.57%15.81%26.74%28.47%35.07%35.61%22.41%
R&D--0.280.330.320.290.180.30.310.37--
R&D as % of Total Revenue--0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%--
Interest Expense-22.61M29.96M34.75M52.85M72.53M76.14M64.15M78.65M80.05M74.08M94.47M
Interest Expense % of Total Revenue-23.05%20.97%19.14%22.26%24.27%23.52%16.74%19.23%17.87%16.88%20.57%

Balance Sheet

Currency: USD2014-12-312015-12-312016-12-312017-12-312018-12-312019-12-312020-12-312021-12-312022-12-312023-12-312024-12-312025-12-31
Total Assets-1.46B1.95B2.58B3.10B3.92B4.26B4.62B5.46B5.27B5.22B5.72B
Total Liabilities-715.96M953.52M1.29B1.57B2.14B1.78B1.88B2.20B2.07B2.07B2.68B
Total Equity-670.16M998.54M1.28B1.53B1.78B2.48B2.74B3.09B3.05B3.00B2.90B
Cash-27.14M21.64M9.36M18.61M12.46M100.49M21.67M21.79M19.49M14.85M30.54M
Total Debt-691.24M968.58M1.45B1.59B2.18B1.63B1.72B2.02B1.91B1.91B2.62B
Net Debt-664.10M844.94M1.17B1.43B1.97B1.44B1.67B2.00B1.89B1.90B2.58B

Cash Flow

Currency: USD2014-12-312015-12-312016-12-312017-12-312018-12-312019-12-312020-12-312021-12-312022-12-312023-12-312024-12-312025-12-31
Operating Cash Flow32.77M38.62M67.19M97.94M128.01M147.36M179.03M244.94M255.91M271.07M276.25M299.50M
Investing Cash Flow-198.57M-480.47M-470.57M-611.11M-510.46M-831.71M-60.24M-582.30M-859.64M24.34M-59.70M-675.27M
Financing Cash Flow156.90M464.77M399.35M500.89M391.34M685.67M-28.38M254.41M636.00M-334.82M-221.19M393.43M
Capital Expenditure215.00K10.56M1.94M6.61M4.96M5.05M10.81M1.60M31.37M46.25M16.80M29.71M
Free Cash Flow32.56M28.06M65.25M91.33M123.05M142.31M168.22M243.34M224.54M224.82M259.46M269.79M
Dividends Paid18.83M23.80M35.73M44.54M51.84M61.96M71.53M154.46M181.22M207.52M216.76M218.78M
FCF to OCF99.34%72.65%97.12%93.26%96.13%96.57%93.96%99.35%87.74%82.94%93.92%90.08%
Dividend Paid to FCF57.84%84.85%54.76%48.77%42.13%43.54%42.52%63.47%80.71%92.31%83.54%81.09%

Earnings

Report DateAug 7, 2019Nov 12, 2019Feb 27, 2020May 7, 2020Aug 4, 2020Nov 5, 2020Feb 24, 2021May 4, 2021Aug 3, 2021Nov 1, 2021Feb 22, 2022May 3, 2022Aug 3, 2022Nov 2, 2022Feb 22, 2023May 3, 2023Aug 2, 2023Nov 1, 2023Feb 21, 2024May 1, 2024Jul 30, 2024Oct 30, 2024Feb 19, 2025Apr 30, 2025Jul 30, 2025Oct 29, 2025Feb 18, 2026May 6, 2026Jul 29, 2026Nov 4, 2026
EPS Estimate0.000.000.000.000.200.150.130.140.140.160.130.160.170.170.170.150.170.180.180.180.170.210.180.170.180.170.370.160.370.38
EPS Actual0.190.150.170.070.140.040.110.160.190.170.190.190.170.150.200.160.330.260.030.310.180.190.110.100.120.140.380.240.39-
Surprise-----29.25%-73.33%-15.38%14.29%35.71%6.25%46.15%18.75%0.00%-11.76%17.65%6.67%94.12%44.44%-83.33%72.22%5.88%-9.52%-41.50%-41.18%-33.33%-17.65%2.70%47.11%5.41%-
TimingAfter-hoursPre-marketPre-marketAfter-hoursAfter-hoursAfter-hoursAfter-hoursAfter-hoursAfter-hoursAfter-hoursAfter-hoursAfter-hoursAfter-hoursAfter-hoursAfter-hoursAfter-hoursAfter-hoursAfter-hoursAfter-hoursAfter-hoursAfter-hoursAfter-hoursPre-marketAfter-hoursAfter-hoursAfter-hoursAfter-hours-After-hours-

Key Statistics & Ratios

Market Cap4.02B
Enterprise Value6.29B
Trailing P/E24.87
Forward P/E24.63
Price / Sales8.45
Price / Book1.26
EPS0.76
Book Value15.02
Revenue (TTM)476.17M
Gross Profit (TTM)451.69M
EBITDA405.56M
Profit Margin30.61%
Operating Margin46.19%
Return on Equity4.92%
Return on Assets2.66%
Shares Outstanding204.60M
Shares Float189.60M
Beta0.94
Dividend Yield6.19%
Dividend Rate1.17
Payout Ratio101.87%

Analyst Ratings

Buy
Based on 11 analystsTarget 23.70
  • Strong Buy
    2
  • Buy
    3
  • Hold
    5
  • Sell
    1

Ownership Breakdown

Institutions
95.02%
Insiders
0.98%
Retail / Other
4.00%

Top Institutional Holders

  • BlackRock Inc
    25.36M13.21%
  • Vanguard Portfolio Management, LLC
    18.12M9.44%
  • Vanguard Capital Management, LLC
    8.53M4.44%
  • State Street Corp
    7.90M4.11%
  • Nuveen, LLC
    5.95M3.10%
  • Geode Capital Management, LLC
    5.28M2.75%
  • Amvescap Plc.
    4.55M2.37%
  • AllianceBernstein L.P.
    4.46M2.33%
  • Charles Schwab Investment Management Inc
    3.48M1.81%
  • AEW Capital Management LP
    3.26M1.70%
  • Fuller & Thaler Asset Management Inc
    3.06M1.59%
  • Dimensional Fund Advisors, Inc.
    2.83M1.48%
  • CenterSquare Investment Management LLC
    2.47M1.29%
  • GRS Advisors, LLC
    2.42M1.26%

Top Fund Holders

  • iShares Core S&P Small-Cap ETF
    11.69M6.09%
  • Vanguard Real Estate Index Investor
    7.21M3.76%
  • Vanguard MStar Total Stk Mkt Idx Invest
    6.11M3.18%
  • iShares Russell 2000 ETF
    5.04M2.63%
  • Vanguard Small Cap Index
    4.42M2.30%
  • Vanguard MStar Small Cap Value Index
    2.80M1.46%

Dividends

20263×
0.29Sep 30, 20260.29Jun 30, 20260.29Mar 31, 2026
20254×
0.29Dec 31, 20250.29Sep 30, 20250.29Jun 30, 20250.29Mar 31, 2025
20244×
0.29Dec 31, 20240.29Sep 30, 20240.29Jun 28, 20240.28Mar 27, 2024
20234×
0.28Dec 28, 20230.28Sep 28, 20230.28Jun 29, 20230.28Mar 30, 2023
20224×
0.28Dec 29, 20220.27Sep 29, 20220.27Jun 29, 20220.27Mar 30, 2022
20214×
0.27Dec 30, 20210.26Sep 29, 20210.26Jun 29, 20210.25Mar 30, 2021
20201×
0.25Dec 30, 2020