American Assets Trust Inc (AAT)vsBroadstone Net Lease Inc (BNL)
AAT
American Assets Trust Inc
$20.58
-0.96%
REAL ESTATE · Cap: $1.61B
BNL
Broadstone Net Lease Inc
$19.41
-1.17%
REAL ESTATE · Cap: $3.93B
Smart Verdict
WallStSmart Research — data-driven comparison
Broadstone Net Lease Inc generates 8% more annual revenue ($466.85M vs $433.85M). BNL leads profitability with a 27.0% profit margin vs 4.2%. BNL trades at a lower P/E of 30.2x. BNL earns a higher WallStSmart Score of 62/100 (C+).
AAT
Hold44
out of 100
Grade: D
BNL
Buy62
out of 100
Grade: C+
Intrinsic Value Comparison
Multi-model valuation · Graham Formula
Margin of Safety
+59.1%
Fair Value
$45.19
Current Price
$20.58
$24.61 discount
Margin of Safety
-2.9%
Fair Value
$18.92
Current Price
$19.41
$0.49 premium
Key Strengths & Concerns
Side-by-side fundamental analysis
Key Strengths
Reasonable price relative to book value
Strong operational efficiency at 23.4%
Reasonable price relative to book value
Strong operational efficiency at 52.2%
Earnings expanding 175.2% YoY
Keeps 27 of every $100 in revenue as profit
Areas to Watch
2.8% revenue growth
Smaller company, higher risk/reward
ROE of 2.2% — below average capital efficiency
4.2% margin — thin
Premium valuation, high expectations priced in
ROE of 4.2% — below average capital efficiency
Distress zone — elevated risk
Comparative Analysis Report
WallStSmart ResearchBull Case : AAT
The strongest argument for AAT centers on Price/Book, Operating Margin.
Bull Case : BNL
The strongest argument for BNL centers on Price/Book, Operating Margin, EPS Growth. Profitability is solid with margins at 27.0% and operating margin at 52.2%. Revenue growth of 11.7% demonstrates continued momentum.
Bear Case : AAT
The primary concerns for AAT are Revenue Growth, Market Cap, Return on Equity. A P/E of 69.3x leaves little room for execution misses. Thin 4.2% margins leave little buffer for downturns.
Bear Case : BNL
The primary concerns for BNL are P/E Ratio, Return on Equity, Altman Z-Score.
Key Dynamics to Monitor
AAT profiles as a value stock while BNL is a mature play — different risk/reward profiles.
BNL carries more volatility with a beta of 1.02 — expect wider price swings.
BNL is growing revenue faster at 11.7% — sustainability is the question.
BNL generates stronger free cash flow (75M), providing more financial flexibility.
Bottom Line
BNL scores higher overall (62/100 vs 44/100), backed by strong 27.0% margins and 11.7% revenue growth. AAT offers better value entry with a 59.1% margin of safety. Both earn "Buy" and "Hold" ratings respectively — the choice depends on your investment horizon and risk tolerance.
This analysis is generated from publicly available financial data. Not financial advice.
American Assets Trust Inc
REAL ESTATE · REIT - DIVERSIFIED · USA
American Assets Trust, Inc. is a self-managed, vertically integrated, full-service real estate investment trust, or REIT, based in San Diego, California.
Broadstone Net Lease Inc
REAL ESTATE · REIT - DIVERSIFIED · USA
BNL is an internally managed REIT that primarily acquires, owns and manages single-tenant commercial real estate that is rented out on a long-term basis to a diversified group of tenants.
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