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Market Cap

US$3.2b

Last Updated

2021/05/12 22:40 UTC

Data Sources

Company Financials +

Executive Summary

BNL 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. More Details


Snowflake Analysis

Average dividend payer and fair value.

Share Price & News

How has Broadstone Net Lease's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: BNL is less volatile than 75% of US stocks over the past 3 months, typically moving +/- 3% a week.

Volatility Over Time: BNL's weekly volatility (3%) has been stable over the past year.


Market Performance


7 Day Return

0.9%

BNL

-1.7%

US REITs

-2.8%

US Market


1 Year Return

n/a

BNL

37.7%

US REITs

49.4%

US Market

Return vs Industry: Insufficient data to determine how BNL performed against the US REITs industry.

Return vs Market: Insufficient data to determine how BNL performed against the US Market.


Shareholder returns

BNLIndustryMarket
7 Day0.9%-1.7%-2.8%
30 Day8.7%1.1%-2.3%
90 Day9.3%6.5%-1.3%
1 Yearn/a43.4%37.7%51.8%49.4%
3 Yearn/a41.7%24.7%57.5%47.6%
5 Yearn/a50.4%20.2%121.7%97.1%

Long-Term Price Volatility Vs. Market

How volatile is Broadstone Net Lease's share price compared to the market and industry in the last 5 years?


Simply Wall St News

No news available

Valuation

Is Broadstone Net Lease undervalued compared to its fair value and its price relative to the market?

>50%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: BNL ($20.28) is trading below our estimate of fair value ($47.98)

Significantly Below Fair Value: BNL is trading below fair value by more than 20%.


Price To Earnings Ratio

PE vs Industry: BNL is poor value based on its PE Ratio (47.4x) compared to the US REITs industry average (45.2x).

PE vs Market: BNL is poor value based on its PE Ratio (47.4x) compared to the US market (19.9x).


Price to Earnings Growth Ratio

PEG Ratio: BNL is poor value based on its PEG Ratio (3.3x)


Price to Book Ratio

PB vs Industry: BNL is good value based on its PB Ratio (1.3x) compared to the US REITs industry average (1.8x).


Future Growth

How is Broadstone Net Lease forecast to perform in the next 1 to 3 years based on estimates from 5 analysts?

14.2%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: BNL's forecast earnings growth (14.2% per year) is above the savings rate (2%).

Earnings vs Market: BNL's earnings (14.2% per year) are forecast to grow slower than the US market (15.4% per year).

High Growth Earnings: BNL's earnings are forecast to grow, but not significantly.

Revenue vs Market: BNL's revenue (9% per year) is forecast to grow faster than the US market (8.8% per year).

High Growth Revenue: BNL's revenue (9% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: BNL's Return on Equity is forecast to be low in 3 years time (4.1%).


Past Performance

How has Broadstone Net Lease performed over the past 5 years?

8.3%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: BNL has a large one-off loss of $20.1M impacting its March 31 2021 financial results.

Growing Profit Margin: BNL's current net profit margins (19.1%) are lower than last year (24.7%).


Past Earnings Growth Analysis

Earnings Trend: BNL's earnings have grown by 8.3% per year over the past 5 years.

Accelerating Growth: BNL's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.

Earnings vs Industry: BNL had negative earnings growth (-18.2%) over the past year, making it difficult to compare to the REITs industry average (-8.8%).


Return on Equity

High ROE: BNL's Return on Equity (2.7%) is considered low.


Financial Health

How is Broadstone Net Lease's financial position?


Financial Position Analysis

Short Term Liabilities: BNL's short term assets ($162.6M) exceed its short term liabilities ($79.1M).

Long Term Liabilities: BNL's short term assets ($162.6M) do not cover its long term liabilities ($1.6B).


Debt to Equity History and Analysis

Debt Level: BNL's debt to equity ratio (62.1%) is considered high.

Reducing Debt: BNL's debt to equity ratio has reduced from 89.6% to 62.1% over the past 5 years.

Debt Coverage: BNL's debt is not well covered by operating cash flow (12.3%).

Interest Coverage: BNL's interest payments on its debt are not well covered by EBIT (2.2x coverage).


Balance Sheet


Dividend

What is Broadstone Net Lease current dividend yield, its reliability and sustainability?

5.03%

Current Dividend Yield


Upcoming Dividend Payment

TodayMay 13 2021Ex Dividend DateJun 29 2021Dividend Pay DateJul 15 202116 days from Ex DividendBuy in the next 46 days to receive the upcoming dividend

Dividend Yield vs Market

Notable Dividend: BNL's dividend (5.03%) is higher than the bottom 25% of dividend payers in the US market (1.25%).

High Dividend: BNL's dividend (5.03%) is in the top 25% of dividend payers in the US market (3.43%)


Stability and Growth of Payments

Stable Dividend: Too early to tell whether BNL's dividend payments have been stable as they only just started paying a dividend.

Growing Dividend: Too early to tell if BNL's dividend payments are increasing as they only just started paying a dividend.


Current Payout to Shareholders

Dividend Coverage: With its reasonably low payout ratio (38%), BNL's dividend payments are well covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: BNL's dividends in 3 years are forecast to be covered by earnings (67.6% payout ratio).


Next Steps

Management

How experienced are the management team and are they aligned to shareholders interests?

2.8yrs

Average management tenure


CEO

Chris Czarnecki (39 yo)

4.25yrs

Tenure

US$3,384,782

Compensation

Mr. Christopher J. Czarnecki, also known as Chris, has been the Chief Executive Officer of Broadstone Net Lease, Inc. since February 2017 and has been its President since August 9, 2018 and has been its Di...


CEO Compensation Analysis

Compensation vs Market: Chris's total compensation ($USD3.38M) is below average for companies of similar size in the US market ($USD5.33M).

Compensation vs Earnings: Insufficient data to compare Chris's compensation with company performance.


Leadership Team

Experienced Management: BNL's management team is considered experienced (2.8 years average tenure).


Board Members

Experienced Board: BNL's board of directors are seasoned and experienced ( 11.2 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Ownership Breakdown

Dilution of Shares: BNL only recently listed within the past 12 months.


Top Shareholders

Company Information

Broadstone Net Lease, Inc.'s company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Broadstone Net Lease, Inc.
  • Ticker: BNL
  • Exchange: NYSE
  • Founded: 2007
  • Industry: Diversified REITs
  • Sector: Real Estate
  • Implied Market Cap: US$3.187b
  • Market Cap: US$2.957b
  • Shares outstanding: 157.17m
  • Website: https://www.broadstone.com

Number of Employees


Location

  • Broadstone Net Lease, Inc.
  • 800 Clinton Square
  • Rochester
  • New York
  • 14604
  • United States

Listings


Biography

BNL 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 Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2021/05/12 22:40
End of Day Share Price2021/05/12 00:00
Earnings2021/03/31
Annual Earnings2020/12/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.