NYSE: BNL · Diversified REITs
Broadstone Net Lease (BNL) fair value: undervalued or overvalued?
As of 3 Oct 2026, Faircurve's model values Broadstone Net Lease (BNL) at $19.62 a share. The stock last closed at $18.56, which puts the model's fair value 5.7% above the price. On the model's bands that reads as Fairly valued.
Revalued . Price is the close of 2 Oct 2026. Broadstone Net Lease, Inc.
Faircurve Insights · 3 Oct 2026
Broadstone Net Lease, Inc. (BNL) operates as a self-managed Real Estate Investment Trust.
Faircurve's model on 3 Oct 2026 gave a fair value of $19.62 a share. The previous run on 26 Sep 2026 gave $19.89, and the fair value moved -1.4%. The calibrated range over 63 trading days is $16.37 to $23.79, and ranges built this way held the price 60% of the time at this horizon. The evidence grade for this fair value is High.
The business quality scores against Essential Properties Realty Trust, Inc. (EPRT), Global Net Lease, Inc. (GNL), American Assets Trust, Inc. (AAT), Safehold Inc. (SAFE), W. P. Carey Inc. (WPC), JBG SMITH Properties (JBGS), and VICI Properties Inc. (VICI). The stock's moves around the last 8 earnings reports ranged from -5.8% to +8.0%, with a median size of 3.1% ignoring direction.
Written from the figures on this page for the 3 Oct 2026 valuation and checked by rule before publishing: every number is one printed here, no forecast, no instruction. The price, the gap and the verdict are the page's own and change daily. Not a recommendation.
What price range does the model give BNL?
The calibrated range for BNL over 63 trading days is $16.37 to $23.79. There is no live options data for this stock, so the range is built from the fair value and calibrated weekly against realised prices (n = 4,809 past valuations, refreshed 3 Oct 2026). Ranges built this way held the price 60% of the time at this horizon.
The model's own range is $18.08 to $21.40.
How does BNL compare with similar companies?
The companies in diversified reits closest to Broadstone Net Lease in market value, each on the same model and the same date.
| Company | Last close | Model fair value | Gap | Model verdict |
|---|---|---|---|---|
| RITM Rithm Capital Corp. | $8.71 | $15.32 | +75.9% | Gap wider than 60% |
| EPRT Essential Properties Realty Trust, Inc. | $25.90 | $20.76 | -19.8% | Overvalued |
| GNL Global Net Lease, Inc. | $8.25 | $8.63 | +4.6% | Fairly valued |
| AAT American Assets Trust, Inc. | $21.55 | $22.71 | +5.4% | Fairly valued |
| SAFE Safehold Inc. | $12.06 | $16.92 | +40.3% | Undervalued |
| WPC W. P. Carey Inc. | $64.52 | $48.51 | -24.8% | Overvalued |
| JBGS JBG SMITH Properties | $10.56 | $5.68 | -46.2% | Overvalued |
| VICI VICI Properties Inc. | $22.65 | $32.28 | +42.5% | Undervalued |
When does BNL report earnings, and how has the stock reacted?
Broadstone Net Lease's next earnings report is scheduled for 4 Nov 2026. Companies can move their dates.
How BNL moved around its last 8 earnings reports
Each move runs from the last close before the report to the first close after it, so it covers companies that report before the open and after the close. The median size across these 8 reports, ignoring direction, was 3.1%.
| Report date | Two session move |
|---|---|
| 29 Jul 2026 | -4.0% |
| 29 Apr 2026 | -1.1% |
| 18 Feb 2026 | -5.8% |
| 29 Oct 2025 | -4.2% |
| 30 Jul 2025 | +0.9% |
| 30 Apr 2025 | +8.0% |
| 19 Feb 2025 | +2.2% |
| 30 Oct 2024 | -2.3% |
Broadstone Net Lease at a glance
Broadstone Net Lease, Inc. (BNL) operates as a self-managed Real Estate Investment Trust.
- Market value
- $3.6B
- Sector
- Real Estate
- Industry
- Diversified REITs
- Beta to the US market
- -0.04
- First valued by Faircurve
- 11 Jul 2026
How the fair value is worked out: the model values Broadstone Net Lease three ways and blends them; the range around the fair value comes from 2,000 simulations of the dividend model. The full method is documented here.
What changed in the latest valuation?
On 26 Sep 2026 the model's fair value for BNL was $19.89. As of 3 Oct 2026 it is $19.62, a change of -1.4%. The model revalues every stock it covers each week, and again after an earnings report.
Questions about Broadstone Net Lease's valuation
Is Broadstone Net Lease stock undervalued or overvalued?
On Faircurve's model, BNL reads as Fairly valued as of 3 Oct 2026. The model's fair value is $19.62 a share against a last close of $18.56, a gap of +5.7%.
What is BNL's fair value?
$19.62 a share as of 3 Oct 2026. The fair value blends three methods: a cash-flow multiple against comparable companies, a dividend model, and the value of the properties. The model's own range is $18.08 to $21.40.
What price range does the model give BNL?
$16.37 to $23.79 over 63 trading days. Ranges built this way held the price 60% of the time across 4,809 past valuations, refreshed 3 Oct 2026.
When does Broadstone Net Lease report earnings next?
The next report is scheduled for 4 Nov 2026. Companies can move their dates.
How much has BNL moved on past earnings reports?
Across its last 8 reports the median two session move was 3.1%, ignoring direction. The largest was +8.0% around the report of 30 Apr 2025.
How confident is the model in this valuation?
The model's evidence grade for BNL is high. For real estate investment trusts (REITs) the grade looks at the dividend record: at least three years of paid dividends with no cut. It is not a probability that the fair value is right, or that the price reaches it.