Business Wire·5 days ago
Broadstone Net Lease Schedules Second Quarter 2026 Earnings Release and Conference CallVICTOR, N.Y.--(BUSINESS WIRE)-- #acquisitions--Broadstone Net Lease Schedules Second Quarter 2026 Earnings Release and Conference Call.
Broadstone Net Lease, Inc.(BNL)Earnings, Financials & Key Ratios
BNL•NYSE•REIT / Real Estate
$21.40
42.8× P/E·Price updated Jul 7, 2026
AboutBNL is an internally-managed REIT that acquires, owns, and manages primarily single-tenant commercial real estate properties that are net leased on a long-term basis to a diversified group of tenants. The Company utilizes an investment strategy underpinned by strong fundamental credit analysis and prudent real estate underwriting. As of September 30, 2020, BNL's diversified portfolio consisted of 627 properties in 41 U.S. states and one property in Canada across the industrial, healthcare, restaurant, office, and retail property types, with an aggregate gross asset value of approximately $4.0 billion.Show more
- Revenue$459M+4.6%
- FFO$267M-14.5%
- FFO/Share1.35-15.0%
- FFO Payout81.94%+18.1%
- FFO per Share1.35-15.0%
- NOI Margin23.52%+1.5%
- FFO Margin58.15%-18.3%
- ROE3.33%-32.4%
- ROA1.88%-36.8%
BNL Price & Volume
Broadstone Net Lease, Inc. (BNL) stock price & volume — 10-year historical chart
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Portfolio Pivot Drives Revenue Growth Amid Volatility
Investment Thesis • Updated 2026Q1
VerdictNeutral
Growth:Expanding
Profitability:Moderate
Financial:Healthy
Cash Flow:Improving
Primary Risk:Portfolio diversification complexity
Key Thesis Takeaways
- Broadstone Net Lease is successfully executing a strategic transition toward industrial assets, evidenced by a robust 8.6% revenue growth rate in 2026Q1.
- While the firm maintains a conservative debt-to-equity ratio of 0.89, investors should monitor the significant quarterly variance in FFO, which recovered to $0.44 per share in 2026Q1 from a low of $0.29 in 2025Q1.
- The substantial $5.0 billion cash position provides significant liquidity for future acquisitions, though the reliance on non-cash depreciation to bridge the gap between $46.4 million in net income and $87.9 million in FFO warrants continued scrutiny of cash quality.
Verdict Logic
while the dividend payout ratio relative to AFFO improved to 0.73 by 2025Q4, the high P/E TTM of 42.42 suggests the market has already priced in significant recovery expectations.
BNL Growth Metrics
Broadstone Net Lease, Inc. (BNL) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR
Revenue CAGR
10 Years16.69%
5 Years7.24%
3 Years3.94%
TTM6.19%
Profit CAGR
10 Years18.23%
5 Years14.99%
3 Years-4.03%
TTM16.54%
EPS CAGR
10 Years0.2%
5 Years2.59%
3 Years-11.45%
TTM38.8%
Return on Capital
10 Years4.12%
5 Years4.2%
3 Years4.2%
Last Year4.22%
BNL Recent Earnings
Broadstone Net Lease, Inc. (BNL) EPS & revenue vs analyst estimates — last 4 quarters
●Beat EPS 5/12 qtrs (42%)●Beat Revenue 7/12 qtrs (58%)
Q2 2026Latest
Apr 29, 2026Metric
Actual
Est
EPS
$0.24+33.9%
$0.18
Rev
$121M+2.2%
$119M
Q1 2026
Feb 18, 2026Metric
Actual
Est
EPS
$0.17-1.5%
$0.17
Rev
$118M+2.0%
$116M
Q4 2025
Oct 29, 2025Metric
Actual
Est
EPS
$0.14-62.2%
$0.37
Rev
$114M-1.9%
$116M
Q3 2025
Jul 30, 2025Metric
Actual
Est
EPS
$0.10-73.0%
$0.37
Rev
$113M+1.1%
$112M
| Quarter | Date | EPS (Act vs Est) | Revenue (Act vs Est) |
|---|---|---|---|
| Q2 2026Latest | Apr 29, 2026 | $0.24vs $0.18+33.9% | $121Mvs $119M+2.2% |
| Q1 2026 | Feb 18, 2026 | $0.17vs $0.17-1.5% | $118Mvs $116M+2.0% |
| Q4 2025 | Oct 29, 2025 | $0.14vs $0.37-62.2% | $114Mvs $116M-1.9% |
| Q3 2025 | Jul 30, 2025 | $0.10vs $0.37-73.0% | $113Mvs $112M+1.1% |
Based on last 12 quarters of dataView full earnings history →
Latest BNL News
Recent stock market news and headlines for Broadstone Net Lease, Inc. (BNL)
Seeking Alpha·Jun 29, 2026
Broadstone Net Lease: Industrial Build-To-Suit Strategy Keeps The Growth Story IntactBroadstone Net Lease remains a compelling Buy for long-term income and total return, underpinned by a focused industrial and retail portfolio. BNL's build-to-suit strategy drives growth, with $382M in pipeline projects offering initial cash yields of 7.3% and long lease terms. Q1 2026 results showed 5.6% AFFO/share growth, 99.8% occupancy, and a safe, growing 5.5% dividend yield supported by a BBB-rated balance sheet.
Seeking Alpha·Jun 27, 2026
Broadstone Net Lease: An Investment-Grade Winner Among Diversified REITs, As Margins RecoverBroadstone Net Lease is rated a strong buy, driven by margin recovery, portfolio diversification, and an investment-grade balance sheet. BNL outperformed peers and the S&P 500 YTD, benefiting from resilient industrial and retail demand, and consistent revenue and AFFO growth. Debt/equity of 0.93, no tenant over 4% of ABR, and 1.3x dividend coverage support balance sheet strength and dividend safety.
Peers Comparison
Key metrics vs top competitors for Broadstone Net Lease, Inc. (BNL)
| Company | Price | Market Cap | P/E Ratio | Rev Growth (1Y) | Net Margin | ROE | Div Yield |
|---|---|---|---|---|---|---|---|
| $21.40 | $4.1B | 42.80 | 4.64% | 22.41% | 3.33% | 5.17% | |
| $78.40 | $9.42B | 44.29 | 16.42% | 29.28% | 3.65% | — | |
| $47.44 | $9.03B | 22.92 | 6.55% | 41.38% | 8.81% | — | |
| $31.28 | $6.76B | 24.44 | 24.97% | 43.28% | 6.3% | — | |
| $64.01 | $59.69B | 54.71 | 9.07% | 18.94% | 2.8% | — | |
| $71.24 | $15.62B | 33.76 | 8.89% | 26.02% | 6.29% | — |
Compare BNL vs Peers
Broadstone Net Lease, Inc. (BNL) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.
BNL SEC Filings & Documents
Broadstone Net Lease, Inc. (BNL) SEC filings — annual & quarterly reports (10-K, 10-Q)
8-K Announcements
6Material company update
May 1, 2026·SEC
Material company update
Apr 29, 2026·SEC
Material company update
Apr 1, 2026·SEC
10-K Annual Reports
310-Q Quarterly Reports
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BNL Frequently Asked Questions
Broadstone Net Lease, Inc. (BNL) stock FAQ — growth, dividends, profitability & financials explained
Growth & Financials
What is Broadstone Net Lease, Inc.'s revenue?
Broadstone Net Lease, Inc. (BNL) reported $468.8M in revenue for fiscal year 2025. This represents a 378% increase from $98.1M in 2015.
How fast is Broadstone Net Lease, Inc. growing?
Broadstone Net Lease, Inc. (BNL) grew revenue by 4.6% over the past year. Growth has been modest.
Is BNL profitable?
Yes, Broadstone Net Lease, Inc. (BNL) is profitable, generating $128.3M in net income for fiscal year 2025 (22.4% net margin).
Dividend & Returns
Does BNL pay dividends?
Yes, Broadstone Net Lease, Inc. (BNL) pays a dividend with a yield of 5.17%. This makes it attractive for income-focused investors.
What is BNL's return on equity?
Broadstone Net Lease, Inc. (BNL) has a return on equity (ROE) of 3.3%. This is below average, suggesting room for improvement.
Industry Metrics
What is Broadstone Net Lease, Inc.'s FFO?
Broadstone Net Lease, Inc. (BNL) generated Funds From Operations (FFO) of $294.4M in the trailing twelve months. FFO is the primary profitability metric for REITs.
Is BNL a good dividend stock?
Broadstone Net Lease, Inc. (BNL) offers a 5.17% dividend yield, which is attractive for income investors. REITs are required to distribute at least 90% of taxable income to shareholders.