AlphaMadera's AlphaVal page classifies Broadstone Net Lease, Inc. as a Real Estate Investment Trust business and values it using P/FFO × Diversified REIT Multiple, then compares the result to the current market price to flag BNL as undervalued, fairly valued, or overvalued.

What is Broadstone Net Lease, Inc.'s fair value?

Fair value for BNL comes from a P/FFO × Diversified REIT Multiple model -- the approach AlphaVal selected for this company's Real Estate Investment Trust classification. The live AlphaVal page shows bear, base, and bull scenarios alongside the key assumption behind each.

How does AlphaMadera value BNL?

AlphaVal routes each company to one of ten valuation archetypes based on its business model. BNL was classified as Real Estate Investment Trust and is valued using P/FFO × Diversified REIT Multiple, built from BNL's most recent reported fundamentals.

BNL - Broadstone Net Lease, Inc.

Price: -- -- | CONSENSUS: Buy DETAILS | PRICE TARGET: $23.57 DETAILS

AlphaVal

Deterministic, archetype-aware fair value

Real Estate Investment Trust 85% confidence

Primary model: P/FFO × Diversified REIT Multiple

Valuation Signal Fair Value Mild

Trading 5.3% below fair value

Current Price $21.09

Bear Case $18.50 12.3% downside ($18.50 - $21.09) / $21.09 = -12.3% $1.39 FFO × 14x

Fair Value $22.28 5.6% upside ($22.28 - $21.09) / $21.09 = 5.6% $1.39 FFO × 17x

Bull Case $26.06 23.6% upside ($26.06 - $21.09) / $21.09 = 23.6% $1.39 FFO × 20x

Adjust Assumptions

P/FFO Multiple

17.0x

FFO per Share

1.39$

Key Value Driver

FFO/share ($1.39) × diversified P/FFO multiple

Terminal Value % of EV

Implied Market Multiple 15.1x

Market is pricing in (growth)

Plain-Language Summary

At $1.39 FFO/share with a 17x diversified REIT multiple, the base-case value is $22.28 per share. Dividend yield: 5.5%. DDM cross-check: $19.04.

Analyst Consensus (External Reference)

Never blended into the bear/base/bull estimates above -- shown only as an outside comparison.

Average Target (13 analysts) $23.57

Analyst Range $20.00 – $26.00

Divergence from AlphaVal 5%

Warnings

⚠ Standard profit figures are misleading for real estate companies — large non-cash accounting charges make profits look artificially low. Dividend yield and funds from operations are better measures.

⚠ Dividend yield of 5.5% is unusually high — make sure the company generates enough cash to keep paying it.

Key Risks

P/E and EV/EBITDA are structurally wrong for REITs — use P/FFO and NAV
Interest rate sensitivity: REIT multiples compress when rates rise
FFO approximation (NI + D&A) may include gains on property sales — verify