BNL is an internally managed REIT that primarily acquires, owns and manages single-tenant commercial real estate that is rented out on a long-term basis to a diversified group of tenants.
| Revenue (TTM) | $466.85M |
| Gross Profit (TTM) | $443.19M |
| EBITDA | $399.20M |
| Operating Margin | 52.20% |
| Return on Equity | 4.21% |
| Return on Assets | 2.74% |
| Revenue/Share (TTM) | $2.47 |
| Book Value | $15.08 |
| Price-to-Book | 1.41 |
| Price-to-Sales (TTM) | 9.17 |
| EV/Revenue | 14.34 |
| EV/EBITDA | 16.94 |
| Quarterly Earnings Growth (YoY) | 175.20% |
| Quarterly Revenue Growth (YoY) | 11.70% |
| Shares Outstanding | $191.77M |
| Float | $189.55M |
| % Insiders | 1.04% |
| % Institutions | 95.74% |
Volatility is currently contracting
This is an auspicious time to invest in REITs outyielding the no-risk rate by 100 bps or more. This article presents 3 Net Lease REITs that offer compelling yields, strong balance sheets, positive growth prospects, and favorable valuations. All 3 companies demonstrate superb occupancy, stable triple-net lease structures, and steady dividend growth, with yields outpacing Treasuries by 100 - 200 basis points.
Broadstone 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.
VICTOR, N.Y.--(BUSINESS WIRE)-- #acquisitions--Broadstone Net Lease Adds $40 million to its Committed Pipeline of Build-to-Suit Developments.
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Thirty-three US REITs utilized their at-the-market (ATM) offering programs during the recent quarter, raising $4.15 billion in aggregate proceeds. Healthcare REIT Welltower Inc. raised the most capital during the first quarter, selling nearly 7.7 million shares of common stock through its ATM program for $1.56 billion in gross proceeds. In the aggregate, healthcare REITs raised $2.67 billion through their ATM programs during the first quarter, the most of any property sector. The data center REIT sector was next with $875.0 million.
VICTOR, N.Y.--(BUSINESS WIRE)-- #acquisitions--Broadstone Net Lease Announces First Quarter 2026 Results and Adds $30 million to its Committed Pipeline of Build-to-Suit Developments.
Broadstone Net Lease's business model remains accretive, generating 67 basis points of economic profit; however, the discounted value of the economic profit is already reflected in the valuation. BNL's enterprise value is currently at a 22.96% premium to invested capital, close to our justified premium to invested capital of 26.08%. Only about 20% of tenants are investment-grade rated. Exposure to weaker tenants (e.g., Red Lobster) warrants ongoing scrutiny.
I have lowered my conviction in Broadstone Net Lease, as I believe its tailwinds might fade amid a shift in the macroeconomic landscape. BNL's S&P 600 small-cap index inclusion may boost trading volume but does not guarantee sustained price appreciation. Fixed rent escalations and a 5.6-year asset-liability mismatch expose the company to inflation and refinancing risk.
NEW YORK, April 6, 2026 /PRNewswire/ -- S&P MidCap 400 constituent Casey's General Stores Inc. (NASD: CASY) will replace Hologic Inc. (NASD: HOLX) in the S&P 500, S&P SmallCap 600 constituent DigitalOcean Holdings Inc. (NYSE: DOCN) will replace Casey's General Stores in the S&P MidCap 400, and Broadstone Net Lease Inc. (NYSE: BNL) will replace DigitalOcean Holdings in the S&P SmallCap 600 effective prior to the opening of trading on Thursday, April 9. Affiliates of Blackstone Inc. and TPG Global are acquiring Hologic in a deal expected to be completed on or about April 7.
