Broadstone Net Lease Inc (BNL)vsEmpire State Realty Trust Inc (ESRT)
BNL
Broadstone Net Lease Inc
$21.26
-0.70%
REAL ESTATE · Cap: $4.28B
ESRT
Empire State Realty Trust Inc
$4.94
+0.20%
REAL ESTATE · Cap: $1.55B
Smart Verdict
WallStSmart Research — data-driven comparison
Empire State Realty Trust Inc generates 64% more annual revenue ($782.82M vs $476.17M). BNL leads profitability with a 30.6% profit margin vs 0.9%. BNL trades at a lower P/E of 28.2x. BNL earns a higher WallStSmart Score of 60/100 (C+).
BNL
Buy60
out of 100
Grade: C+
ESRT
Hold47
out of 100
Grade: D+
Intrinsic Value Comparison
Multi-model valuation · Graham Formula
Margin of Safety
-28.7%
Fair Value
$15.13
Current Price
$21.26
$6.13 premium
Margin of Safety
+52.0%
Fair Value
$13.28
Current Price
$4.94
$8.34 discount
Key Strengths & Concerns
Side-by-side fundamental analysis
Key Strengths
Reasonable price relative to book value
Keeps 31 of every $100 in revenue as profit
Strong operational efficiency at 46.2%
Earnings expanding 95.7% YoY
Reasonable price relative to book value
Areas to Watch
Moderate valuation
Distress zone — elevated risk
ROE of 4.4% — below average capital efficiency
Weak financial health signals
3.2% revenue growth
Smaller company, higher risk/reward
ROE of 3.8% — below average capital efficiency
0.9% margin — thin
Comparative Analysis Report
WallStSmart ResearchBull Case : BNL
The strongest argument for BNL centers on Price/Book, Profit Margin, Operating Margin. Profitability is solid with margins at 30.6% and operating margin at 46.2%.
Bull Case : ESRT
The strongest argument for ESRT centers on Price/Book.
Bear Case : BNL
The primary concerns for BNL are P/E Ratio, Altman Z-Score, Return on Equity.
Bear Case : ESRT
The primary concerns for ESRT are Revenue Growth, Market Cap, Return on Equity. A P/E of 253.0x leaves little room for execution misses. Debt-to-equity of 2.21 is elevated, increasing financial risk.
Key Dynamics to Monitor
BNL profiles as a mature stock while ESRT is a value play — different risk/reward profiles.
ESRT carries more volatility with a beta of 1.36 — expect wider price swings.
BNL is growing revenue faster at 8.3% — sustainability is the question.
BNL generates stronger free cash flow (75M), providing more financial flexibility.
Bottom Line
BNL scores higher overall (60/100 vs 47/100), backed by strong 30.6% margins. ESRT offers better value entry with a 52.0% 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.
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.
Empire State Realty Trust Inc
REAL ESTATE · REIT - DIVERSIFIED · USA
Empire State Realty Trust, Inc. (NYSE: ESRT), a major real estate investment trust (REIT), owns, manages, operates, acquires and repositions offices and retail properties in Manhattan and the New York metropolitan area, including the Empire State Building, the?
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