American Assets Trust Inc (AAT)vsBroadstone Net Lease Inc (BNL)
AAT
American Assets Trust Inc
$18.31
-3.12%
REAL ESTATE · Cap: $1.48B
BNL
Broadstone Net Lease Inc
$18.64
-3.72%
REAL ESTATE · Cap: $3.94B
Smart Verdict
WallStSmart Research — data-driven comparison
Broadstone Net Lease Inc generates 5% more annual revenue ($454.14M vs $431.87M). BNL leads profitability with a 21.2% profit margin vs 12.9%. AAT trades at a lower P/E of 20.8x. BNL earns a higher WallStSmart Score of 58/100 (C).
AAT
Hold48
out of 100
Grade: D+
BNL
Buy58
out of 100
Grade: C
Intrinsic Value Comparison
Multi-model valuation · Graham Formula
Margin of Safety
-195.5%
Fair Value
$6.26
Current Price
$18.31
$12.05 premium
Margin of Safety
+15.9%
Fair Value
$23.16
Current Price
$18.64
$4.52 discount
Key Strengths & Concerns
Side-by-side fundamental analysis
Key Strengths
Reasonable price relative to book value
Strong operational efficiency at 21.3%
Reasonable price relative to book value
Strong operational efficiency at 51.2%
Keeps 21 of every $100 in revenue as profit
Earnings expanding 24.7% YoY
Areas to Watch
Smaller company, higher risk/reward
ROE of 6.4% — below average capital efficiency
Weak financial health signals
Expensive relative to growth rate
Premium valuation, high expectations priced in
ROE of 3.2% — 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, Profit Margin. Profitability is solid with margins at 21.2% and operating margin at 51.2%.
Bear Case : AAT
The primary concerns for AAT are Market Cap, Return on Equity, Piotroski F-Score.
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 declining 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 5.5% — sustainability is the question.
BNL generates stronger free cash flow (61M), providing more financial flexibility.
Bottom Line
BNL scores higher overall (58/100 vs 48/100), backed by strong 21.2% margins. 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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