WallStSmart

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

VS

Smart Verdict

WallStSmart Research — data-driven comparison

Broadstone Net Lease Inc generates 63% more annual revenue ($466.85M vs $286.85M). BNL leads profitability with a 27.0% profit margin vs -5.1%. BNL earns a higher WallStSmart Score of 62/100 (C+).

AHRT

Hold

44

out of 100

Grade: D

Growth: 4.0Profit: 4.0Value: 5.0Quality: 2.5
Piotroski: 3/9Altman Z: 0.27

BNL

Buy

62

out of 100

Grade: C+

Growth: 6.7Profit: 7.0Value: 3.7Quality: 6.5
Piotroski: 3/9Altman Z: 1.75
IV

Intrinsic Value Comparison

Multi-model valuation · Graham Formula

Intrinsic value data unavailable for AHRT.

BNLSignificantly Overvalued (-31.6%)

Margin of Safety

-31.6%

Fair Value

$14.80

Current Price

$20.58

$5.78 premium

UndervaluedFair: $14.80Overvalued

Key Strengths & Concerns

Side-by-side fundamental analysis

Key Strengths

AHRT2 strengths · Avg: 9.0/10
Price/BookValuation
1.3x10/10

Reasonable price relative to book value

Operating MarginProfitability
22.9%8/10

Strong operational efficiency at 22.9%

BNL4 strengths · Avg: 9.8/10
Price/BookValuation
1.4x10/10

Reasonable price relative to book value

Operating MarginProfitability
52.2%10/10

Strong operational efficiency at 52.2%

EPS GrowthGrowth
175.2%10/10

Earnings expanding 175.2% YoY

Profit MarginProfitability
27.0%9/10

Keeps 27 of every $100 in revenue as profit

Areas to Watch

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

0.0% earnings growth

Market CapQuality
$668.74M3/10

Smaller company, higher risk/reward

Piotroski F-ScoreQuality
3/93/10

Weak financial health signals

Return on EquityProfitability
-3.9%2/10

ROE of -3.9% — below average capital efficiency

BNL4 concerns · Avg: 3.5/10
P/E RatioValuation
32.4x4/10

Premium valuation, high expectations priced in

Altman Z-ScoreHealth
1.754/10

Distress zone — elevated risk

Return on EquityProfitability
4.4%3/10

ROE of 4.4% — below average capital efficiency

Piotroski F-ScoreQuality
3/93/10

Weak financial health signals

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, 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 : AHRT

The primary concerns for AHRT are EPS Growth, Market Cap, Piotroski F-Score. Debt-to-equity of 2.39 is elevated, increasing financial risk.

Bear Case : BNL

The primary concerns for BNL are P/E Ratio, Altman Z-Score, Return on Equity.

Key Dynamics to Monitor

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

AHRT carries more volatility with a beta of 1.11 — 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. 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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