BNL Broadstone Net Lease, Inc.

XNYS 17.90 Delayed
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Stock quote, options chain, IV rank, technicals, AI analysis, and institutional ownership. Iron condor setups Expected move IV rank history Fibonacci levels Insider trading

Market data may be delayed, incomplete, or inaccurate. Not a recommendation to buy, sell, or hold any security. Verify quotes with your broker before trading. See Terms §17.

BNL $17.90 —

What changed

Recent filings, trades and moves
Key stats
$17.90
52-Week Range
$16.70 – $23.10
YTD
+2.50%
IV Rank (30D)
19.76
Straddle Price
$1.48
P/C Vol Ratio
7.77
Market Cap
$3.4B
Open
$17.68
Day Range
$17.55 – $17.95
Volume
1,270,856
Prev Close
$17.51
Fair Value
MODEL: SHORT

A blended fair-value estimate combining up to six valuation methods. Each method is weighted by how well it fits the company — DCF down-weights for unprofitable names; DDM only fires for steady dividend payers; comparables down-weight when peer multiples disagree.

  • DCF (quality-aware) — projects free cash flow with a horizon that scales to business quality. True compounders (quality 6/6) get 10 years explicit + 10 years fade before terminal; cyclical/struggling names (quality 0-1) get a 5-year terminal cliff. Quality is scored from ROE, gross margin, growth, FCF margin, debt load, and FCF consistency — the same factors that drive market premium for compounders.
  • Market-Implied Growth (in Model Inputs) — reverse-DCF that answers "what growth rate is the market pricing in?". Lets you sanity-check the deviation: if implied growth is plausible for the business, the model's bearish flag may be wrong; if implausible, the market may be over-extrapolating.
  • DDM (Gordon Growth Dividend Model) — values the stream of future dividends. Only used when trailing yield ≥ 2% and dividend payments are stable — below that the dividend is a token payout and Gordon (which values only the dividend stream) systematically underprices growth names, so those route to DCF + comparables + market anchor instead.
  • P/E, EV/EBITDA, P/B, P/S — applies the peer-group median multiple to this company's per-share metric. Peers come from the same set as the "Related symbols" card. Earnings/sales metrics are forward-tilted by the company's recent revenue growth (capped at 25%) so they're comparable to peers' growth-embedded multiples — mimics how analysts use NTM rather than TTM. Per-multiple weights are biased by company quality (e.g. P/B down-weighted for asset-light tech).
  • Market Anchor (SMA50) — the 50-day moving average, weighted by recent trading-range stability (tighter Bollinger bands → higher weight). Captures information fundamentals miss (forward consensus, sentiment, supply/demand) — but only when recent trading is steady enough that the market has converged on a view. During wild breakouts or breakdowns the anchor's weight collapses.
  • Options Expected (B-L 30d) — the risk-neutral expected stock price at 30-day options expiration, derived from the full implied-volatility surface via Breeden-Litzenberger (second derivative of call price wrt strike → implied PDF, then E[S_T]). Forward-looking, captures all options-implied information (smile, skew, term structure) in one number. Weighted by chain liquidity. SP500-only at present (pre-computed daily). Backtest evidence: adds modest alpha across most bucket × holding combos.
  • Blended value — weighted average. Confidence reflects how many methods fired and how tight peer dispersion is.
  • Deviation pill — green when blended FV ≥ 10% above current price (undervalued); red when ≥ 10% below; grey otherwise.
10-yr Treasury (rf)4.90%
Beta vs SPY0.72
Cost of Equity (CAPM)8.48% (VRP-adj)
WACC7.61%
Volatility Risk Premium+75.5pp (IV − HV30)
Effective Tax Rate0.9%
Rev. Growth (YoY, DCF input)+3.0%
DCF Horizon10 years explicit + fade
Forward Tilt (NTM/TTM)×1.03 (applied to P/E, EV/EBITDA, P/S)
Free Cash Flow (TTM)$0.3B
Return on Equity (TTM)5.1%
Book / Price85.1% — banking bias active (P/B is primary)
Gross Margin (TTM)100.0%
FCF Margin (TTM)55.3%
Debt / Equity0.96
Quality Score3/6 — normal (10y DCF)
Market-Implied Growth+5.3% (reverse-DCF on current price)
SMA 50$18.79 (Market Anchor value)
SMA 20 / Bollinger Mid$17.66
Bollinger Width / SMA209.6% (drives anchor stability)
Net Debt$2.9B
Market Cap$4B
Peers used for multiples: GLPI, O, PLD, VICI, WELL, WPC (filtered from 8 ETF-co-members; sector bias active)
60-Day Conviction
30%
20-Day Fair Value
≈ by Dec 8, 2026
$17.81
α -0.5% rank 67%
conviction
35%
40-Day Fair Value
≈ by Jan 6, 2027
$17.92
α +0.2% rank 67%
conviction
7%
60-Day Fair Value
≈ by Feb 4, 2027
$17.70
α -1.1% rank 67%
conviction
30%
MethodImplied PriceWeightDetail
DCF $13.31 20%
DDM (Gordon) $27.59 16%
Peer P/E $20.27 6% median 25.9× · 6 peers
Peer EV/EBITDA $20.41 6% median 16.5× · 6 peers
Peer P/B $29.06 6% median 1.9× · 6 peers
Peer P/S $22.83 6% median 9.2× · 6 peers
Market Anchor (SMA50) $18.79 40% stability 100% (BB-width)
Options Expected (B-L 30d) $17.53 0% 7 strikes · skew +0.19
As of 2026-11-09 · updated
About
Industry (SIC)
REAL ESTATE INVESTMENT TRUSTS (6798) · industry map
Exchange
XNYS
Market Cap
$3.4B
Employees
62
List Date
2020-09-17
CIK
0001424182
Last Earnings
Oct 28 before open · −1.9% vs ±5.4% expected
Next Earnings
~Feb 17, 2027 (estimated)
Headquarters
Victor, NY
Homepage
https://www.broadstone.com

Broadstone Net Lease Inc is an internally managed real estate investment trust that invests in, owns, and manages single-tenant commercial real estate properties that are net leased on a long-term basis to a diversified group of tenants. The company has selectively invested in net leased assets in the industrial, healthcare, restaurant, retail, and office property types. The company focuses on investing in real estate that is operated by creditworthy single tenants in industries characterized by positive business drivers and trends. The company targets properties that are an integral part of t…

Summary
—
composite
—
No summary data available for this symbol yet.

Each spoke is this symbol's rank within its sector (0–100; the dotted ring marks the sector median at 50). Higher is more constructive for a long. One spoke — News sentiment — is an absolute reading, not a sector rank. Grayed spokes have no data. A fuller shape is a summary, not a recommendation.

Chart
Seasonality
'21'22'23'24'25'26Avg
Jan-6.39%-5.90%11.86%-8.43%0.32%6.01%-0.42%
Feb-0.93%-5.17%-1.61%-9.42%7.81%5.96%-0.56%
Mar-1.93%2.74%-3.90%3.91%1.19%-5.43%-0.57%
Apr9.67%-6.30%-3.69%-5.88%-5.38%7.03%-0.76%
May8.07%5.01%-2.97%4.99%0.32%3.00%3.07%
Jun2.45%-3.21%-1.28%3.59%0.19%4.08%0.97%
Jul10.11%7.09%4.55%11.32%-0.43%3.11%5.96%
Aug7.32%-14.44%-2.65%5.66%14.54%-1.88%1.43%
Sep-9.58%-17.48%-11.84%3.21%-3.20%-11.14%-8.34%
Oct4.36%6.72%-1.26%-5.73%-2.34%-6.30%-0.76%
Nov-7.24%-1.74%13.56%0.29%-3.20%1.79%*0.58%
Dec1.55%-4.76%4.74%-8.22%-0.69%---1.48%
Total16.00%-34.07%2.82%-7.07%7.88%4.51%-1.65%
Technical Indicators

Quick-reference for reading the values below. Indicators combine to confirm a view — no single one is a trade signal on its own.

Trend Indicators
  • SMA 20 / 50 / 200 — price above = uptrend, below = downtrend. SMA 50 crossing SMA 200 is the golden/death cross.
  • EMA 12 / 26 — faster-reacting averages; 12 above 26 is short-term bullish.
  • MACD — bullish when MACD > signal (green badge), bearish when below. Divergence from price often precedes reversals.
  • ADX (14) — trend strength regardless of direction. <20 range, 20–25 weak trend, 25–50 trend, >50 strong trend.
  • +DI / −DI — +DI > −DI favors bulls; the reverse favors bears. Read alongside ADX.
Momentum Oscillators
  • RSI (14) — <30 oversold, >70 overbought. 40–60 is neutral; trending names can stay extreme.
  • Stochastic %K / %D — <20 oversold, >80 overbought. %K crossing %D is an early momentum signal.
  • Williams %R — inverted scale: <−80 oversold, >−20 overbought.

Oscillators work best in range-bound markets; in strong trends they give premature reversal signals.

Volume & Volatility
  • Bollinger Bands — price at upper band = overbought, lower = oversold. Narrow bands (squeeze) often precede expansion.
  • OBV — cumulative volume; rising OBV confirms uptrend, falling OBV confirms downtrend. Divergence from price is a warning.
  • Vol SMA 20 / Vol ROC — today's volume vs. 20-day average. Positive ROC with price move = conviction.
  • ATR / True Range — average daily $ move; sizing and stop-loss reference.
  • HV 20 / 30 / 60 — realized (historical) volatility. Compare to IV on the options cards: IV > HV = rich premium.

Confluence matters: trend + momentum + volume agreeing carries far more weight than any single indicator. For how these feed the spread scanner score, see the algorithm docs →

Trend Indicators

SMA 20: $17.63
SMA 50: $18.72
SMA 200: $19.84
Current: $17.89
EMA 12: $17.67
EMA 26: $17.94
MACD: -0.2710 | Signal: 0.1317
BEARISH
ADX (14): 39.87
TREND
+DI: 14.31
−DI: 17.38

Momentum Oscillators

RSI (14): 48.95
NEUTRAL
Stoch %K: 63.43
Stoch %D: 68.17
Williams %R: -25.08

Volume & Volatility

BB Upper: $18.42
BB Lower: $16.85
NEUTRAL
OBV: 49,457,870
Vol SMA 20: 3,590,364
Vol ROC: -64.93%
ATR: $0.51
True Range: $0.44
HV 20: 29.1%
HV 30: 26.2%
HV 60: 21.5%

Data Summary

Data Points: 500
Last Updated:
Date Range: 2024-11-08T00:00:00 – 2026-11-06T00:00:00
AI Analysis
Written before BNL’s Oct 28 earnings report, so it doesn’t reflect the results.

Here is my comprehensive stock analysis report for BNL:

Executive Summary

Overall Assessment: NEUTRAL with confidence level 6/10 Key Drivers:

  • Bullish momentum from MACD signal
  • Neutral RSI reading
  • Low volatility regime

Primary Risks:

  • Risk of mean reversion from overbought position
  • Potential catalysts driving stock price movement (earnings, product launches)

Investment Thesis: BNL's recent rally is driven by positive market sentiment and technical momentum. While the stock has reached an overbought level, the low volatility regime suggests a higher probability of a correction rather than a significant decline.

Recent News Sentiment Impact:

  • Positive news headlines on dividend yields have contributed to the stock's upward movement.
  • Neutral news headlines on earnings expectations have not significantly impacted the stock price.

Technical Analysis

Trend Direction: Short-term (1-4 weeks): Uptrend, Medium-term (1-3 months): Range-bound, Long-term (3-12 months): Uptrend Support/Resistance Levels:

  • SMA 20: $19.95 (support)
  • SMA 50: $19.57 (support)
  • Upper Bollinger Band: $20.44 (resistance) Momentum Signals:
  • RSI: 64.74 (neutral)
  • MACD signal: Bullish
  • Bollinger Bands position: Overbought

Volume Analysis:

  • Volume SMA 20: 1887959.25 (moderate volume)
  • On-Balance Volume (OBV): 91279268.59 (increasing trend)
  • Volume Rate of Change: -68.23% (decreasing trend)

News & Sentiment Analysis

Recent Headlines Summary:

  1. Positive news on dividend yields
  2. Neutral news on earnings expectations
  3. Positive news on landlord performance
  4. Neutral news on triple net REITs
  5. Neutral news on yield buying
  6. Neutral news on UDR's Q1 FFO estimates

Sentiment Assessment: NEUTRAL with a slight lean towards positivity

Catalyst Identification:

  • Earnings expectations may drive stock price movement in the near term
  • Product launches or dividend announcements could impact the stock in the medium term

Market Narrative:

  • Technical momentum suggests the stock may continue to move higher, but recent news headlines have not significantly impacted the stock price.
  • The market is expecting a potential correction due to the overbought position.

Risk & Volatility Assessment

Risk Interpretation: Low volatility - stock moves less than market Beta: 0.22 (vs SPY) - relatively low risk compared to the broader market IV Rank: 29.6% (Medium) - shows if volatility is historically high/low Current IV: 114.2% - above average historical volatility

Downside Protection:

  • Support levels at SMA 20 and SMA 50 provide a potential floor for the stock price.

Market Context & Positioning

Sector Performance:

  • Real Estate Investment Trusts (REITs) have outperformed the broader market in recent months.

Institutional Activity:

  • Moderate institutional interest indicated by increasing OBV trend.

Correlation Analysis:

  • The stock has demonstrated a low correlation to the broader market, indicating a relatively independent price movement.

Relative Valuation:

  • BNL is trading within its historical range and is not significantly overvalued or undervalued compared to its peers.

Key Levels & Action Items

Critical Price Levels:

  • SMA 20: $19.95 (support)
  • Upper Bollinger Band: $20.44 (resistance)

Breakout/Breakdown Levels:

  • A potential breakout above the upper Bollinger Band could trigger a new uptrend.
  • A breakdown below SMA 50 could indicate a more significant decline.

Time-Sensitive Catalysts:

  • Earnings expectations may drive stock price movement in the near term.

Risk Management:

  • Consider setting a stop-loss level at SMA 20 to manage risk in case of a correction.
  • Position sizing should be adjusted based on individual risk tolerance and market conditions.
Generated
Earnings History
19 of 19 under expected move
Avg Expected Move
6.46%
Avg Actual Move
1.41%
Each row pairs the pre-earnings straddle-implied expected move with the realized close-to-close move. Sorted oldest first.
Earnings Date Timing Expected Move Actual Move Ratio Outcome
2021-05-04 Pre-Market 4.50% 0.40% 0.09x Within
2021-06-23 Pre-Market 2.53% 1.39% 0.55x Within
2022-05-03 Pre-Market 14.40% 1.29% 0.09x Within
2022-09-28 Pre-Market 7.63% 4.33% 0.57x Within
2023-05-03 Pre-Market 8.53% 0.75% 0.09x Within
2023-08-02 Pre-Market 7.28% 0.78% 0.11x Within
2023-11-01 Pre-Market 7.63% 0.42% 0.06x Within
2024-02-21 Pre-Market 5.35% 1.03% 0.19x Within
2024-06-03 Pre-Market 7.65% 0.20% 0.03x Within
2024-07-30 After-Close 4.87% 3.12% 0.64x Within
2024-11-18 Pre-Market 5.96% 0.76% 0.13x Within
2025-01-06 After-Close 4.62% 0.70% 0.15x Within
2025-04-30 After-Close 8.81% 1.98% 0.22x Within
2025-07-30 Pre-Market 8.07% 1.18% 0.15x Within
2025-10-29 Pre-Market 8.91% 3.19% 0.36x Within
2026-02-18 Pre-Market 2.14% 1.71% 0.80x Within
2026-04-29 Pre-Market 3.74% 0.50% 0.13x Within
2026-07-29 Pre-Market 4.69% 1.12% 0.24x Within
2026-10-28 Pre-Market 5.38% 1.86% 0.35x Within

Earnings calendar: this week’s reports with expected vs actual moves →

BNL Options Activity & IV Rank

BNL IV rank history, 52-week IV rank and IV percentile →

Volatility Metrics

Current IV: 36.4%
7-DTE IV: 45.1%
Expected Move: $1.48
7-DTE Move: $1.00
Days to Exp: 39 (2026-12-18)

Options Flow · All expiries

Call Volume: 106
Put Volume: 824
P/C Volume: 7.774
BEARISH
Call OI: 1,655
Put OI: 1,414
P/C OI: 0.854
Total OI: 3,069

ATM Options Pricing

ATM Call: $1.00
ATM Put: $0.47
Call %: 5.6%
Put %: 2.7%

Chain Summary

Chain Volume: 930
Chain OI: 3,069
Last Updated: 11/9/2026
Spread Scanner
Full Algorithm Docs ↗

Each spread is ranked by a composite score built in three stages. Full documentation →

Stage 1 — Base Score

score = P(profit) × (credit / spread_width)
P(profit) from short leg delta (1 − |delta|), penalised above 85%. Credit uses mid-price to handle illiquid chains fairly.
Calendars: the long leg is valued at the short leg’s expiration (Black-Scholes at its current IV) across the range of prices the short leg’s IV implies, giving the best-case profit (R/R = that over the debit) and P(profit).

Stage 2 — Skew Adjustment (±25% cap)

RR and BF (30-delta) from the persisted per-symbol skew snapshot — wing strikes picked by real greeks.delta, not a moneyness proxy. Put skew boosts bull puts, penalises bear calls. High butterfly boosts iron condors. Calendars are skew-neutral.

Stage 3 — Technical Overlay (±50% cap, 5 groups)
Group 1 · Directional Bias (±0.25)
  • RSI <40 bullish / >60 bearish
  • MACD crossover + histogram trend
  • Price vs SMA 50 & SMA 200
Group 2 · Momentum (±0.10)
  • Stochastic %K <20 / >80
  • Williams %R <−80 / >−20
Group 3 · Volatility (up to −0.25 / +0.15)
  • Blended ATR + straddle expected-move penalty
  • Bollinger Band signal (+ counter-trend penalty)
  • BB width — vol contraction boost for ICs
Group 4 · IV Regime (±0.15)
  • IV rank ≥ 75 → strong boost for credit spreads
  • IV rank < 25 → penalty (selling cheap vol)
Group 5 · Liquidity (penalty up to −0.10)
  • Min open interest across all legs
  • OI < 100 → −0.10 · OI < 500 → −0.05

score = base_score × skew_multiplier × tech_multiplier
Both multipliers are shown per spread. Beta is informational only — ATR already captures realized vol. Full algorithm documentation →

Scanning bull put, bear call, iron condor and calendar spreads…

Dealer Positioning
TYPICAL γ

Estimated net dealer gamma is at the 63rd percentile of this name's own daily history, within its typical range. This describes current positioning; it is not a forecast or a trading signal.

Gamma percentile
63%
vs own history
GEX tilt
+0.87
OI-weighted, today
Vanna tilt
-0.50
δ-sensitivity to IV
Charm tilt
-0.45
δ-decay vs time
Vanna tilt -0.50: the estimated dealer exposure leans negative, so the modeled hedge would shift noticeably if implied volatility changed.
Charm tilt -0.45: the estimated dealer exposure leans negative, so the modeled hedge would shift noticeably as time passes and options approach expiry.

Net dealer gamma is an estimate of the aggregate gamma held by options market makers across this name's option chain, weighted by open interest. Dealer positions aren't public, so it uses a standard simplifying assumption: dealers are treated as long the calls and short the puts that are open. Actual dealer books can differ.

Gamma percentile ranks today's estimate against this name's own daily history, from 0% (the lowest reading on record) to 100% (the highest). Raw gamma scales with how much open interest a chain carries, so it isn't comparable across names; the percentile is. The badge marks the bottom 20% as low and the top 20% as high.

Tilts run from −1 to +1 and show how lopsided the estimated dealer exposure is. GEX tilt compares call gamma with put gamma. Vanna tilt describes how the hedge would shift if implied volatility changed, and charm tilt how it would shift with the passage of time.

This card describes estimated positioning and where it sits historically. It is not a forecast of price direction or volatility and not a trading signal. Market-wide view: Dealer positioning screener.

· 8 ATM contracts, 1k total OI
Skew (Wing IV − ATM IV)
DTE:
Wing Δ:
Metric:
Wing vs ATM
IV(put wing) − IV(ATM), in vol points

How much the OTM put trades above (or below) the at-the-money strike. Measures the height of the put-side tail relative to ATM — i.e. how expensive crash insurance is on this name.

  • Positive (typical) — wing IV > ATM IV. Standard equity put skew: portfolios bid up crash protection, so OTM puts trade richer than ATM.
  • Near zero or negative (unusual) — wing IV ≤ ATM IV. Flat or inverted put side. Common when there's no fear demand, in tightly mean-reverting names, or right after an earnings catalyst clears.
  • Percentile vs own 3-yr history: high = wings rich (good time to sell wing premium); low = wings cheap (good time to buy protection).
  • Not directional — high or low wings don't predict up or down moves. It's a price tag on tail insurance, not a forecast.
Risk Reversal
IV(call wing) − IV(put wing), equal delta on each side

Which side of the smile is the market paying up for? Measures the tilt of the surface — call skew vs put skew at matched deltas.

  • Negative (typical) — puts richer than calls. Standard equity behavior: hedging demand makes puts carry a premium. Most large-caps sit in the −1 to −5 vol-point range.
  • Strongly negative (< −5 pts) — heavy downside hedging, elevated fear, or an upcoming catalyst (earnings, FDA, macro event). Worth flagging.
  • Positive — calls richer than puts. Unusual for equities; signals bullish momentum, short-squeeze positioning, or takeover/M&A speculation.
  • Near zero — symmetric surface. Market sees roughly equal up/down risk. Rare for large-caps; more common in commodities and FX.
Reading them together

Wing-vs-ATM tells you how expensive the tails are. Risk Reversal tells you which side is favored. Combined:

  • High wing percentile + deeply negative RR → strong put bid; stress or major event priced in. Owning protection costs a premium; selling put premium is dangerous.
  • Low wing percentile + near-zero RR → complacency; insurance cheap and balanced. Good environment to add cheap downside hedges.
  • Positive RR + elevated wings → call-side fear-of-missing-out; common in squeeze setups. Upside calls expensive, downside puts not bid.
14 DTE / 10d —
— pts EXTREME
No data
30 DTE / 10d —
— pts EXTREME
No data

Percentile is the rank of today's reading within ~3 years of this symbol's own history. High percentile = wings are rich relative to history; not a directional signal. Skew is read off the chain in real time, not from CBOE SKEW.

Volatility Surface

Loading the implied volatility surface…

Volatility Smile

Loading the implied volatility smile…

IV Rank (7 DTE)11.6LowNov 9
IV Rank (30 DTE)19.8LowNov 9
Straddle Price (30 DTE)$1.48Nov 9
Beta Analysis

Risk Metrics

Beta: 0.0549
Alpha: 0.15%
Correlation: 0.0379
R-Squared: 0.1%
Stock Volatility: 20.0%
Market Volatility: 13.8%

Analysis Details

Benchmark: SPY
Data Points: 251
Period: 252 trading days
Interpretation:
Low volatility - stock moves less than market
Beta & Alpha Over Time
Notable investors who own BNL
3 of 37 tracked investors
InvestorValueShare of their portfolioRankQ/Q sharesSource
Renaissance Technologies Hedge fund
Jim Simons
$12.1M
0.02%
#954 of 3138+846.8%13F
Millennium Management Hedge fund
Izzy Englander
$2.9M
0.00%
#2378 of 3716+134.5%13F
Rockefeller Capital Management Family office
Rockefeller family
$403K
0.00%
#2207 of 4729-4.1%13F

Hedge funds, activists, holding companies and family offices we track, from their latest 13F (quarter-end value) and Form 4 filings in the last 3 years. Family offices · all institutions

BNL Institutional Ownership (13F)

Filings for 2026-06-30 · 173 already for 2026-09-30
Diluted shares outstanding: 199,939,500 (as of 2026-09-30)

Institutional managers with $100M+ AUM file Form 13F-HR quarterly, due 45 days after quarter end. Holdings are reported gross at quarter-end market value — they are a snapshot, not a real-time position.

  • Shares — long equity positions in this name, aggregated across share classes.
  • Calls / Puts — notional value of long call / put exposure where this ticker is the underlying.
  • % of Float — holder's reported shares divided by the latest diluted shares outstanding. Sums above 100% indicate large custodian / prime broker positions where the same shares are reported by multiple filers.
  • Custodian badge — filers with more than 5,000 holdings are typically broker-dealers / custodians reporting customer-held shares, not active managers.

Each filer is counted once at its latest 13F-HR filing. New filings are ingested on a weekly cadence.

390 filers191,349,788 shares$3.87B value95.70% of float
# Filer Shares Value % of Total % of Float Period
1 BlackRock, Inc. Custodian 34,462,110 $712.33M 18.40% 17.24% 2026-06-30
2 Vanguard Portfolio Management LLC 20,047,478 $414.38M 10.71% 10.03% 2026-06-30
3 State Street Corp 10,818,323 $226.73M 5.86% 5.41% 2026-06-30
4 Vanguard Capital Management LLC 8,622,817 $178.23M 4.60% 4.31% 2026-06-30
5 Geode Capital Management, LLC Custodian 5,539,281 $102.49M 2.65% 2.77% 2026-09-30
6 Nuveen, LLC Custodian 4,586,676 $94.81M 2.45% 2.29% 2026-06-30
7 Invesco Ltd. Custodian 4,306,063 $89.01M 2.30% 2.15% 2026-06-30
8 AllianceBernstein L.P. 4,435,319 $81.03M 2.09% 2.22% 2026-06-30
9 Charles Schwab Investment Management, Inc. 3,722,825 $76.95M 1.99% 1.86% 2026-06-30
10 FULLER & THALER ASSET MANAGEMENT, INC. 2,950,786 $60.99M 1.58% 1.48% 2026-06-30
11 AEW CAPITAL MANAGEMENT INC 3,207,298 $59.34M 1.53% 1.60% 2026-09-30
12 AEW CAPITAL MANAGEMENT L P 3,207,298 $59.34M 1.53% 1.60% 2026-09-30
13 JPMorgan Chase & Co Custodian 2,748,630 $58.34M 1.51% 1.37% 2026-06-30
14 Dimensional Fund Advisors LP Custodian 2,933,251 $54.27M 1.40% 1.47% 2026-09-30
15 Northern Trust Corp Custodian 2,573,690 $53.20M 1.37% 1.29% 2026-06-30
16 CENTERSQUARE INVESTMENT MANAGEMENT LLC 2,466,690 $50.99M 1.32% 1.23% 2026-06-30
17 GRS Advisors, LLC 2,420,071 $50.02M 1.29% 1.21% 2026-06-30
18 Norges Bank 2,254,795 $46.61M 1.20% 1.13% 2026-06-30
19 Victory Capital Management Inc. 2,085,661 $43.11M 1.11% 1.04% 2026-06-30
20 Alyeska Investment Group, L.P. 2,050,198 $42.38M 1.09% 1.03% 2026-06-30
21 Two Sigma Investments, LP Custodian 1,956,029 $40.43M 1.04% 0.98% 2026-06-30
22 Allspring Global Investments Holdings, LLC 2,063,141 $37.65M 0.97% 1.03% 2026-09-30
23 Wellington Management Group LLP Custodian 1,727,563 $35.71M 0.92% 0.86% 2026-06-30
24 Bank of New York Mellon Corp Custodian 1,924,201 $35.60M 0.92% 0.96% 2026-09-30
25 Bank of America Corp Custodian 1,595,463 $32.98M 0.85% 0.80% 2026-06-30
6 filers$3.89M notional
# Filer Notional Value % of Total Period
1 Susquehanna International Group, LLP Custodian $2.16M 55.63% 2026-06-30
2 Citadel Advisors LLC Custodian $568.42K 14.61% 2026-06-30
3 IMC-Chicago, LLC Custodian $558.70K 14.36% 2026-09-30
4 Jane Street Group, LLC Custodian $551.89K 14.19% 2026-06-30
5 Simplex Trading, LLC Custodian $37.00K 0.95% 2026-09-30
6 GROUP ONE TRADING LLC Custodian $10.34K 0.27% 2026-06-30
2 filers$33.95K notional
# Filer Notional Value % of Total Period
1 Simplex Trading, LLC Custodian $27.75K 81.74% 2026-09-30
2 GROUP ONE TRADING LLC Custodian $6.20K 18.26% 2026-06-30

BNL Insider Trading (Form 4)

Latest: 2026-10-02
Form 4 filings — insider beneficial-ownership changes by officers, directors, and 10%+ holders. Filed within 2 business days of transaction.
Filed Reporter Role Action Shares Avg Price Net $ Link
2026-10-02 Joseph Saffire Director Award (A) +912 — EDGAR
2026-10-02 Richard P Imperiale Director Award (A) +523 — EDGAR
2026-10-02 James H Watters Director Award (A) +1,013 — EDGAR
2026-10-02 Laura L. Felice Director Award (A) +1,148 — EDGAR
2026-10-02 David M Jacobstein Director Award (A) +202 — EDGAR
2026-10-02 Laurie A. Hawkes Director Award (A) +1,858 — EDGAR
2026-10-02 Jessica Duran Director Award (A) +1,148 — EDGAR
2026-10-02 Michael A Coke Director Award (A) +1,081 — EDGAR
2026-08-24 Richard P Imperiale Director Buy (P) +10,000 $21.16 $211.6K EDGAR
2026-05-01 James H Watters Director Award (A) +4,987 — EDGAR
2026-05-01 David M Jacobstein Director Award (A) +4,987 — EDGAR
2026-05-01 Richard P Imperiale Director Award (A) +4,987 — EDGAR
2026-05-01 Joseph Saffire Director Award (A) +4,987 — EDGAR
2026-05-01 Laura L. Felice Director Award (A) +4,987 — EDGAR
2026-05-01 Jessica Duran Director Award (A) +4,987 — EDGAR
Codes: P = open-market purchase · S = open-market sale · A = grant/award · M = option exercise · F = tax withholding at vest · G = bona-fide gift · D = disposition to issuer · J = other (described in filing footnote — typically 401(k), trust, inheritance) · W = will/inheritance. Only P / S codes carry directional signal.

BNL Insider Holdings

16 insiders · @ $17.89
Officers, directors, and 10%+ owners who have filed a Form 4 in the past two years, ranked by current disclosed exposure (shares × today's price). Shares are direct + indirect (via trusts / LLCs / spouse). Excludes unvested RSU and option grants — those aren't beneficially owned until vest.
# Insider Role Shares Disclosed Exposure Lifetime OM Net Filings Last Filed
1 John David Moragne CEO 652,483 $11.68M $409.0K 16 2026-03-16
2 Ryan M Albano President & COO 457,555 $8.19M $269.0K 15 2026-03-16
3 Kevin Fennell EVP, CFO & Treasurer 220,036 $3.94M $205.0K 15 2026-03-16
4 Laurie A. Hawkes Director 147,541 $2.64M $1.11M 17 2026-10-02
5 James H Watters Director 128,362 $2.30M $64.2K 15 2026-10-02
6 Michael B. Caruso SVP, Underwriting & Strategy 117,417 $2.10M $16.3K 9 2026-03-16
7 John Callan SVP & General Counsel 108,610 $1.94M $0 9 2026-03-16
8 Michael A Coke Director 86,983 $1.56M $486.6K 14 2026-10-02
9 Jennie O'Brien SVP, Chief Accounting Officer 78,043 $1.40M $0 5 2026-03-16
10 Molly Wiegel SVP, Human Resources & Admin 75,872 $1.36M -$196.4K 14 2026-03-16
Lifetime OM Net = signed sum of open-market buys (P) and sells (S) over their career; excludes grants, tax withholdings, and dispositions to issuer. A large negative number is normal for long-tenured executives — they've sold compensation grants over many years.

BNL Board & Officers

As of SEC filings through Oct 2, 2026

Directors 8

Officers 8

Changes in the last 10 years (54)
Mar 4, 2026John David Moragne no longer listed as a director in SEC filings
Mar 4, 2025Kevin Fennell listed as EVP, CFO & Treasurer (previously EVP & CFO) in SEC filings
Feb 13, 2025The company announced the departure of Denise Brooks-Williams from the board in an SEC filing
Feb 13, 2025Richard P Imperiale became a director
Feb 13, 2025Joseph Saffire became a director
Nov 1, 2024Michael B. Caruso listed as SVP, Underwriting & Strategy (previously SVP, Finance) in SEC filings
Oct 24, 2024William D. Garner became SVP, Acquisitions
Sep 13, 2024Jennie O'Brien listed as SVP - Chief Accounting Officer (previously SVP - Accounting & Controller) in SEC filings
Aug 11, 2024The company announced the departure of Timothy Dieffenbacher as SVP & Chief Accounting Officer in an SEC filing
Mar 1, 2024Molly Wiegel listed as SVP - Human Resources & Admin (previously SVP - Human Resources) in SEC filings
Feb 27, 2024The company announced the departure of Roderick Pickney as SVP - Acquisitions in an SEC filing
Mar 20, 2023Ryan M Albano listed as President & COO (previously EVP & Chief Financial Officer) in SEC filings
Mar 20, 2023John David Moragne listed as Chief Executive Officer (previously EVP & Chief Operating Officer) in SEC filings
Mar 20, 2023John David Moragne first listed as a director in an SEC filing
Mar 10, 2023Kevin Fennell listed as EVP & CFO (previously SVP - Capital Markets) in SEC filings
Feb 17, 2023Jennie O'Brien became SVP - Accounting & Controller
Jan 17, 2023The company announced the departure of Geoffrey Rosenberger from the board in an SEC filing
Jan 17, 2023Laura L. Felice became a director
Jan 17, 2023Jessica Duran became a director
Jan 6, 2023The company announced the departure of Christopher J Czarnecki from the board in an SEC filing
Not reported recently (11)
  • Shekar Narasimhan · Last reported as a director in an SEC filing dated May 3, 2024
  • Laurier J Lessard Jr · Last reported as SVP - Asset Management in an SEC filing dated Mar 2, 2023
  • Andrea T. Wright · Last reported as SVP, Property Management in an SEC filing dated Mar 2, 2023
  • Kristen Duckles · Last reported as SVP & Chief Admin. Officer in an SEC filing dated Mar 2, 2022
  • Amy L Tait · Last reported as a director in an SEC filing dated Apr 5, 2021
  • Sean T Cutt · Last reported as EVP & Chief Investment Officer in an SEC filing dated Mar 3, 2021
  • Steve Haupt · Last reported as SVP - Property Management in an SEC filing dated Feb 10, 2021
  • Agha S Khan · Last reported as a director in an SEC filing dated May 22, 2020
  • Timothy John Holland · Last reported as Executive Vice President and Chief Administrative Officer in an SEC filing dated Jun 23, 2017
  • Kevin F Barry · Last reported as Chief Accounting Officer and Treasurer in an SEC filing dated Jun 23, 2017
  • David E Kasprzak · Last reported as Executive Vice President and Chief Business Development Officer in an SEC filing dated Jun 23, 2017
Compiled from SEC filings by the company and its directors and officers. Dates are as stated in those filings. Where no filing says when someone left, we show the last filing that listed them.
Recent SEC Filings
Latest: 2026-10-28
Current reports — material events the company must disclose within 4 business days (earnings releases, M&A, executive changes, etc.).
Filing Date Event Link
2026-10-28 Earnings results EDGAR
2026-10-05 Regulation FD disclosure EDGAR
2026-08-25 Regulation FD disclosure EDGAR
2026-08-10 Other events EDGAR
2026-07-29 New debt obligation EDGAR
2026-07-29 Earnings results EDGAR
2026-07-08 Regulation FD disclosure EDGAR
2026-07-02 Regulation FD disclosure EDGAR
2026-06-11 Regulation FD disclosure EDGAR
Annual report — audited financial statements, MD&A, risk factors. Filed 60–90 days after fiscal year-end.
Filing Date Accession Link
Quarterly report — unaudited financials and MD&A. Filed 40–45 days after each of the first three fiscal quarters.
Filing Date Accession Link
2026-10-28 0001424182-26-000081 EDGAR
2026-07-29 0001424182-26-000063 EDGAR
ETF Holders
109 ETFs hold BNL
25 shown · $1.03B total exposure · 0.18% AUM-weighted avg weight
# ETF Provider Weight $ Exposure ETF AUM As Of
1 IJR iShares Core S&P Small-Cap ETF iShares (BlackRock) 0.20% $203.4M $103.8B 2026-11-06
2 VNQ Vanguard Real Estate ETF Vanguard 0.20% $134.3M — 2026-09-30
3 VTI Vanguard Morningstar Total Stock Market ETF Vanguard 0.01% $119.7M — 2026-09-30
4 IWM iShares Russell 2000 ETF iShares (BlackRock) 0.12% $89.9M $76.6B 2026-11-06
5 VB Vanguard Morningstar Small-Cap ETF Vanguard 0.05% $84.4M — 2026-09-30
6 VBR Vanguard Morningstar Small-Cap Value ETF Vanguard 0.09% $55.0M — 2026-09-30
7 VXF Vanguard Extended Market ETF Vanguard 0.04% $40.0M — 2026-09-30
8 IWN iShares Russell 2000 Value ETF iShares (BlackRock) 0.23% $32.3M $13.9B 2026-11-06
9 SCHH Schwab U.S. REIT ETF Nport 0.28% $31.5M — 2026-08-31
10 SPSM State Street® SPDR® Portfolio S&P 600™ Small Cap ETF SPDR (State Street) 0.20% $31.4M $15.7B 2026-11-05
11 DFAR Dimensional US Real Estate ETF Dimensional 0.28% $24.0M — 2026-11-05
12 XSMO Invesco S&P SmallCap Momentum ETF Invesco 0.87% $23.0M — 2026-11-05
13 VTWO Vanguard Russell 2000 ETF Vanguard 0.12% $21.0M — 2026-09-30
14 IJS iShares S&P Small-Cap 600 Value ETF iShares (BlackRock) 0.27% $20.7M $7.5B 2026-11-06
15 SCHA Schwab U.S. Small-Cap ETF Nport 0.08% $19.0M — 2026-08-31
16 SLYV State Street® SPDR® S&P 600™ Small Cap Value ETF SPDR (State Street) 0.28% $13.5M $4.9B 2026-11-05
17 VIOO Vanguard S&P Small-Cap 600 ETF Vanguard 0.21% $12.6M — 2026-09-30
18 USRT iShares Core U.S. REIT ETF iShares (BlackRock) 0.29% $12.1M $4.2B 2026-11-06
19 USVM VictoryShares US Small Mid Cap Value Momentum ETF Nport 0.68% $11.8M — 2026-06-30
20 FNDA Schwab Fundamental U.S. Small Company ETF Nport 0.10% $9.3M — 2026-08-31
21 DES WisdomTree U.S. SmallCap Dividend Fund Nport 0.42% $9.1M — 2026-06-30
22 REET iShares Global REIT ETF iShares (BlackRock) 0.18% $9.0M $4.9B 2026-11-06
23 IJT iShares S&P Small-Cap 600 Growth ETF iShares (BlackRock) 0.11% $7.9M $7.3B 2026-11-06
24 SRET Global X SuperDividend REIT ETF Global X 3.82% $7.7M — 2026-11-06
25 DFGR Dimensional Global Real Estate ETF Dimensional 0.18% $7.3M $4.0B 2026-11-05
Fundamentals

Quarterly filings sourced from SEC 10-Q / 10-K reports. TTM tiles aggregate the most recent four quarters; bars show the last ~12 quarters oldest → newest.

Metrics
  • Revenue — top-line sales. Look for consistent YoY growth; seasonal businesses need same-quarter comparisons (Q4 '24 vs Q4 '23).
  • Net Income — bottom-line profit after all expenses. Can be volatile from one-time items; red bars = net loss.
  • Diluted EPS — net income per share assuming options/converts are exercised. Direct input to the P/E ratio.
  • Operating Cash Flow — cash generated from core operations, before capex and financing. Harder to manipulate than net income; growing OCF is a quality signal.
How to read the bars
  • Sequential growth — quarter-over-quarter trend. Accelerating bars are a momentum signal.
  • YoY growth — compare to the same quarter a year earlier to remove seasonality.
  • Quality — OCF should roughly track Net Income over time. Large divergence (net income ≫ OCF) flags accruals risk.
  • Margins — scan the bar ratios: Net Income / Revenue tells you margin trend without needing a separate chart.

TTM (trailing-twelve-month) smooths seasonality and is used for the P/E calculation. Filings appear 30–90 days after the period closes.

Trailing P/E
23.56
TTM Diluted EPS
$0.76
TTM Revenue
$483.87M
TTM Net Income
$146.09M
TTM Op. Cash Flow
$306.46M
Quarterly figures (12 quarters)
QuarterPeriod EndRevenueNet IncomeDiluted EPSOp. Cash Flow
Q3 '262026-09-30$121.87M$27.12M$0.14$87.64M
Q2 '262026-06-30$122.31M$39.48M$0.21$58.17M
Q1 '262026-03-31$121.40M$46.37M$0.24$76.09M
Q4 '252025-12-31$118.30M$33.13M$0.17$84.57M
Q3 '252025-09-30$114.17M$26.47M$0.14$64.19M
Q2 '252025-06-30$112.99M$19.85M$0.10$79.28M
Q1 '252025-03-31$108.69M$16.74M$0.09$71.46M
Q4 '242024-12-31$112.13M$26.39M$0.14$63.91M
Q3 '242024-09-30$108.40M$35.61M$0.19$67.30M
Q2 '242024-06-30$105.91M$35.33M$0.19$74.17M
Q1 '242024-03-31$105.37M$65.11M$0.35$70.87M
Q4 '232023-12-31$105.00M$5.92M$0.03$60.58M
Q3 2026 • period ending 2026-09-30 • filed 2026-10-28
Valuation

Ratios derived from TTM financials and the current market price, sampled daily. History chart shows how expensive the stock is today relative to its own recent past.

Price Multiples
  • P/E — price / TTM earnings. Rough market rule: 10–15 value, 15–25 market, >30 growth/premium. Negative when earnings are negative.
  • P/B — price / book value. Useful for financials and asset-heavy names; meaningless for asset-light software.
  • P/S — price / TTM revenue. Useful when earnings are negative or noisy (early-stage growth).
  • EV/EBITDA — capital-structure-neutral. <10 cheap, 10–15 reasonable, >20 rich. Good for comparing across leverage profiles.
  • EV/Sales — like P/S but accounts for debt + cash. Compare within sector.
Profitability & Yields
  • ROE — return on equity. >15% strong, >25% exceptional. Caution: high leverage inflates ROE.
  • ROA — return on assets. Leverage-neutral; >5% solid, >10% exceptional.
  • Div Yield — annual dividend / price. Compare to 10Y Treasury; sustained yield >6% often signals distress.
  • FCF Yield — free cash flow / market cap. >5% is attractive; negative means burning cash.
Balance Sheet
  • Debt/Equity — leverage. <1 conservative, >2 aggressive. Sector-dependent (utilities naturally high, tech low).
  • Current Ratio — short-term liquidity. >1.5 comfortable, <1 raises short-term solvency flags.
Reading the history chart
  • Compare current level to the 3-year band: near the high end = relatively expensive; near the low = relatively cheap.
  • Multiples expanding while earnings are flat = sentiment-driven rally.
  • Multiples compressing while earnings grow = value coming from fundamentals.
P/E
23.56
P/B
1.18
P/S
7.48
EV/EBITDA
15.35
EV/Sales
13.07
ROE
4.8%
ROA
2.5%
Div Yield
6.54%
FCF Yield
7.95%
Debt/Equity
0.89
Current Ratio
—
Market Cap
$3.56B
as of 2026-11-09

BNL vs Peers

Related companies, largest first
Company Market cap P/E Revenue growth YTD IV rank
WELL Welltower Inc. $179.7B 106.6 +40.5% +31.8% 43
PLD PROLOGIS, INC. $120.7B 29.0 +7.2% +1.2% 44
EQIX Equinix, Inc. Common Stock REIT $100.2B 63.9 +11.1% +39.2% 36
AMT American Tower Corporation $87.6B 26.7 +5.3% +8.4% 38
O Realty Income Corporation $56.1B 43.2 +8.2% +4.0% 22
VICI VICI Properties Inc. Common Stock $27.3B 11.6 +5.4% −10.3% 41
WPC W.P. Carey Inc. (REIT) $15.0B 22.8 +9.0% +1.9% 58
GLPI Gaming and Leisure Properties, Inc. $11.3B 16.0 −21.2% −11.0% 60
BNL Broadstone Net Lease, Inc. $3.4B 23.5 +8.0% +2.5% 20
Peer median $71.9B 27.9 +7.7% +2.9% 42

P/E uses the latest reported trailing-12-month diluted EPS; "—" means no positive earnings or no data.

Short Interest & Float

Regulatory short-interest reports publish on a bi-weekly settlement cadence; short-volume is reported daily by the trade-reporting facilities. Float is derived from insider-ownership filings.

Metric definitions
  • Short Interest — total shares currently sold short as of the settlement date. Lags real time by ~8 business days.
  • SI % of Float — short interest / free float. The key crowding metric.
  • Days to Cover — short interest / avg daily volume. How many full trading days it would take shorts to buy back. High DTC + catalyst = squeeze fuel.
  • Short Vol Ratio — today's short-sale volume / total volume. Intraday selling pressure proxy (not the same as short interest).
  • Free Float — shares available for public trading (total shares minus insider / restricted).
  • Float % — free float / shares outstanding. <50% = tightly held, more prone to squeezes.
How to read the signals
  • SI % of Float < 5% — typical, no particular signal.
  • 5–15% — elevated; watch for catalysts (earnings, guidance, macro).
  • 15–30% — heavily shorted; tight-float names in this range have produced notable squeezes historically.
  • >30% — extreme; borrow is likely expensive and squeeze risk is material.
  • Days to Cover > 5 combined with high SI% amplifies squeeze potential.
History chart
  • Trend matters more than level. Rapidly rising short interest often precedes negative catalysts or heavy hedging.
  • A sudden drop in SI after a rally may indicate a squeeze in progress.

Short interest is reported mid-month and end-of-month; short volume is daily.

Short Interest
20.77M
SI % of Float
10.93%
Days to Cover
9.96
Short Vol Ratio
56.4%
Free Float
190.05M
Float %
99.0%
Short interest 2026-10-15 • Short volume 2026-11-06 • Float 2026-08-24