BROADSTONE NET LEASE, INC.
At today's price, BROADSTONE NET LEASE, INC. (BNL) is priced for -2.1% FFO growth. boothcheck doesn't publish a fair value or a price target; it shows what the price assumes, so you can judge whether that bar is too high. Built from SEC EDGAR filings.
The one number that decides this case is adjusted funds from operations. At about $21 the price implies BNL lets its AFFO decline about 3.3% a year. In the first quarter of 2026 AFFO grew 5.6% to $0.38 per share, and full-year guidance of $1.53 to $1.57 was maintained. The price is betting on decline; the trust is delivering growth. The portfolio backs the growth. BNL owned 773 properties at 99.8% occupancy, collected 100% of base rents, and recaptured 119% of expiring lease rents, with a build
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339 institutional managers reported holding BNL in 13F filings for the quarter ended 2026-03-31. Together they hold about 71% of the company; the top 10 hold 33%. 39 opened new positions that quarter. Held by BlackRock, State Street, Nuveen, among others. On the short side, 10.0M shares were sold short as of the 2026-06-15 count, about 5% of shares outstanding (6.1 days of typical volume to cover).
Quarterly 13F filings arrive up to 45 days after quarter end, so the picture is never current (filed through 2026-05-29). Nothing here is investment advice.
BNL's share count grew 30.3% over the past five years. It pays a dividend, and has paid one every year in our records (10 and counting), raised 5 years straight; the current rate is $1.16 a share annually. Cash returned over the past three years: $595.23M in dividends.
Share counts are split-adjusted; repurchase totals are gross of share issuance. Nothing here is investment advice.
Open-market insider buys at BNL over the trailing three years: 2024: 4 buys totaling $427k; 2025: 16 buys totaling $1.40M. 16 officers and directors are on file.
Code P open-market purchases from SEC Form 4 filings, non-derivative, excluding scheduled 10b5-1 plans. Nothing here is investment advice.
BNL's recent reports: the day-one move, then what the following quarter actually did.
| report | day one | next quarter |
|---|---|---|
| 2023-08-04 | -1.0% | -12.6% |
| 2023-11-03 | +1.6% | +11.9% |
| 2024-02-23 | -4.1% | -3.0% |
| 2024-05-03 | +4.8% | +3.9% |
Day-one is the close-to-close move around the filing. Nothing here is investment advice.
BNL's latest 8-K filings: 2026-07-08 (items 7.01, 9.01); 2026-07-02 (items 7.01, 9.01); 2026-06-11 (items 7.01, 9.01); 2026-05-01 (items 5.07, 9.01); 2026-04-29 (items 2.02, 9.01).
Item codes are the SEC's own classification of what each report discloses. Nothing here is investment advice.
Last analyzed: June 27, 2026
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For informational and research purposes only. Not investment advice. Not a recommendation to buy, sell, or hold any security. boothcheck is not a registered investment adviser. Past performance does not guarantee future results.