WallStSmart

Armada Hoffler Properties, Inc. (AHRT)vsBroadstone Net Lease Inc (BNL)

VS

Smart Verdict

WallStSmart Research — data-driven comparison

Broadstone Net Lease Inc generates 60% more annual revenue ($454.14M vs $283.06M). BNL leads profitability with a 21.2% profit margin vs 2.0%. BNL earns a higher WallStSmart Score of 58/100 (C).

AHRT

Hold

43

out of 100

Grade: D

Growth: 2.7Profit: 5.0Value: 5.0Quality: 5.0

BNL

Buy

58

out of 100

Grade: C

Growth: 6.0Profit: 6.5Value: 7.7Quality: 4.8
Piotroski: 4/9Altman Z: 1.01
IV

Intrinsic Value Comparison

Multi-model valuation · Graham Formula

Intrinsic value data unavailable for AHRT.

BNLUndervalued (+15.9%)

Margin of Safety

+15.9%

Fair Value

$23.16

Current Price

$18.64

$4.52 discount

UndervaluedFair: $23.16Overvalued

Key Strengths & Concerns

Side-by-side fundamental analysis

Key Strengths

AHRT2 strengths · Avg: 10.0/10
Price/BookValuation
1.0x10/10

Reasonable price relative to book value

Operating MarginProfitability
31.1%10/10

Strong operational efficiency at 31.1%

BNL4 strengths · Avg: 9.3/10
Price/BookValuation
1.2x10/10

Reasonable price relative to book value

Operating MarginProfitability
51.2%10/10

Strong operational efficiency at 51.2%

Profit MarginProfitability
21.2%9/10

Keeps 21 of every $100 in revenue as profit

EPS GrowthGrowth
24.7%8/10

Earnings expanding 24.7% YoY

Areas to Watch

AHRT4 concerns · Avg: 3.0/10
EPS GrowthGrowth
0.0%4/10

0.0% earnings growth

Market CapQuality
$624.26M3/10

Smaller company, higher risk/reward

Profit MarginProfitability
2.0%3/10

2.0% margin — thin

Return on EquityProfitability
-13.0%2/10

ROE of -13.0% — below average capital efficiency

BNL3 concerns · Avg: 3.0/10
P/E RatioValuation
39.5x4/10

Premium valuation, high expectations priced in

Return on EquityProfitability
3.2%3/10

ROE of 3.2% — below average capital efficiency

Altman Z-ScoreHealth
1.012/10

Distress zone — elevated risk

Comparative Analysis Report

WallStSmart Research

Bull Case : AHRT

The strongest argument for AHRT 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 : AHRT

The primary concerns for AHRT are EPS Growth, Market Cap, Profit Margin. Thin 2.0% 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

AHRT profiles as a value stock while BNL is a mature play — different risk/reward profiles.

AHRT carries more volatility with a beta of 1.06 — 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 43/100), 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.

Armada Hoffler Properties, Inc.

REAL ESTATE · REIT - DIVERSIFIED · USA

AH REALTY TRUST INC is a vertically integrated, self-managed real estate investment trust.

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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