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    The Bull Case For Broadstone Net Lease (BNL) Could Change Following New 2026 Guidance And Investment Plan

    Simply Wall St·12/07/2025 21:12:08
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    • In early December 2025, Broadstone Net Lease held an investor day where management detailed its ongoing portfolio reshaping and issued initial 2026 guidance, including plans for US$500–US$625 million of investments focused on industrial and retail properties, build-to-suit developments, and asset management initiatives.
    • The event also underscored Broadstone’s multi-year pivot toward industrial and essential retail assets and its build-to-suit pipeline of nearly US$900 million, which management and covering analysts view as a key engine for potential adjusted funds from operations growth.
    • We’ll now look at how this new 2026 guidance and planned US$500–US$625 million investment program could reshape Broadstone’s investment narrative.

    Find companies with promising cash flow potential yet trading below their fair value.

    Broadstone Net Lease Investment Narrative Recap

    To own Broadstone Net Lease, you need to believe in its shift toward industrial and essential retail properties, underpinned by long-term net leases and build-to-suit projects that can support steady adjusted funds from operations. The investor day and 2026 guidance directly reinforce that thesis, with the US$500–US$625 million investment plan acting as the key near term catalyst, while balance sheet risk and funding this growth at higher leverage levels remain the central concern.

    The most relevant update is management’s initial 2026 guidance calling for about 4% adjusted funds from operations per share growth at the midpoint, supported by that US$500–US$625 million investment pipeline. This targets industrial and retail acquisitions, build-to-suit developments, and asset management projects, tying directly into Broadstone’s multi year portfolio reshaping and its push to rely less on broadly marketed deals and more on relationship driven opportunities.

    Yet against this growth push, investors should be aware of the rising leverage tolerance and what that could mean if interest costs stay elevated or...

    Read the full narrative on Broadstone Net Lease (it's free!)

    Broadstone Net Lease's narrative projects $518.6 million revenue and $148.3 million earnings by 2028. This requires 5.5% yearly revenue growth and about a $50.6 million earnings increase from $97.7 million today.

    Uncover how Broadstone Net Lease's forecasts yield a $20.27 fair value, a 16% upside to its current price.

    Exploring Other Perspectives

    BNL Community Fair Values as at Dec 2025
    BNL Community Fair Values as at Dec 2025

    Three Simply Wall St Community fair value estimates span from US$15 to about US$42.66, showing how far apart individual views can be. When you set those opinions against Broadstone’s reliance on regular acquisitions and build to suit projects funded partly with more debt, it underscores why many investors want to weigh several perspectives before deciding how comfortable they are with the company’s growth path.

    Explore 3 other fair value estimates on Broadstone Net Lease - why the stock might be worth 14% less than the current price!

    Build Your Own Broadstone Net Lease Narrative

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    This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.