BNL at a glance
Broadstone Net Lease, Inc. (BNL, SEC CIK 1424182) filed its latest 10-K annual report on February 19, 2026, a 10-Q quarterly report on July 29, 2026, an 8-K current report on October 5, 2026 and Form 4 insider filings as recently as October 2, 2026. SignalX summarizes each filing with AI and tracks the company's insider trades and institutional holders.
- For the fiscal year ended December 31, 2025 (FY2025), Broadstone Net Lease, Inc. (BNL) reported revenue of $454.1 million (up 5.2% from FY2024) and net income of $96.5 million. Diluted EPS was $0.50.
- As of June 30, 2026, 32 institutional investment managers tracked by SignalX reported holding Broadstone Net Lease, Inc. (BNL) shares worth $2.1 billion in 13F-HR filings.
- The most recent insider open-market purchase reported on Form 4 was by Imperiale Richard P on August 21, 2026 of 5,000 shares at $21.10 per share.
- In the last 90 days, BNL insiders reported 2 open-market purchases ($212K) and 0 open-market sales ($0) on Form 4, a net purchase of $212K.
Source: SEC EDGAR (XBRL financial data, 13F-HR and Form 4 filings).
- Revenue · FY2025
- $454.1M
- +5.2% vs prior year
- Insiders · 90 days
- 2 buys · 0 sells
- Net +$212K
- 13F holders
- 32 funds
- $2.1B · −1 vs prior quarter
- Latest 8-K
- Aug 25, 2026
- Item 7.01
AI 10-K Annual Report Analysis
Latest 10-K, fiscal year ended Dec 31, 2025
Business Overview
- Industrial-focused diversified net lease REIT with 771 primarily single-tenant properties across 44 U.S. states and 4 Canadian provinces
- Invested $748.4M in 2025 including $209.3M on build-to-suit developments and $429.9M in new property acquisitions
- Extended $1.0B revolving credit facility maturity to March 2029 and issued $350M senior unsecured notes due 2032 at 5.000%
- Portfolio 99.8% leased with weighted average remaining lease term 9.6 years and 2.1% average contractual rent escalation
- Achieved 4.2% AFFO growth to $296.3M or $1.49 per diluted share reflecting strong rent collections and occupancy
Risk Factors
- Risk of tenant default under master leases affecting 38.6% of ABR, with 64.9% of multi-site tenant ABR linked to master leases as of 12/31/25
- Geographic concentration risk: 35.4% of ABR in top 5 states including Texas (10.2%) and Michigan (8.6%) vulnerable to regional downturns
- Supply chain disruptions increasing renovation costs and delays for specialty properties, impairing re-leasing and liquidity
- Competition from larger REITs and investors with lower cost of capital may limit acquisition opportunities and reduce yields
- Debt outstanding of $2.5B as of 12/31/25 with covenants that could trigger accelerated repayment risks under stress
Management Discussion & Analysis
- Revenue $454.1M, up 5.2% YoY from $431.8M driven by rent escalations and portfolio growth
- Operating expenses $265.7M, down 0.8% YoY; depreciation up 5.1%, property expense down 7.2%, impairments down 18.9%
- Net income $99.4M, down 41.2% YoY from $169.0M; net margin approx. 21.9% vs 39.1% due to lower gains on property sales and higher interest expense
- Best segment: rental lease revenues $454.1M; Worst: gain on sales fell 82.8% to $12.6M from $73.2M
- Cash flow from operations $299.5M, capex and acquisitions $438.2M; financing provided $393.4M including increased borrowings; dividends declared $59.5M
- Guidance/risks: focus on maintaining leverage below 6.0x; expects to fund growth via debt/equity and selective dispositions; exposed to interest rate and FX risks; no material debt maturities until 2027
AI summary of the BNL 10-K filed . Generated from the filing text; verify against the original.View on SEC EDGARHow to read a 10-K
AI 10-Q Quarterly Report Analysis
Latest 10-Q, quarter ended Jun 30, 2026
Management Discussion & Analysis
- Forward-looking statements subject to economic, competitive, market, and business-decision risks
Risk Factors
- No material changes to risk factors since the December 31, 2025 Form 10-K
- Significant carried-forward risks remain detailed exclusively in the 2025 Form 10-K
- No newly triggered regulatory, legal, operational, competitive, or financial risks disclosed
AI summary of the BNL 10-Q filed . Generated from the filing text; verify against the original.View on SEC EDGAR10-K vs 10-Q vs 8-K
AI 8-K Current Report Analysis
The most recent material events, by 8-K item
Item 7.01: Regulation FD Disclosure
- Broadstone Net Lease issued a press release on August 25, 2026, updating investors on recent business activity
- Exhibit 99.1 contains the substantive disclosure and may affect assessments of operating momentum and investment outlook
Item 8.01: Other Events
- $259.3M gross equity offering from 12.65M shares at $20.50 per share, including fully exercised 1.65M-share option
- Forward-sale structure delays Broadstone’s cash proceeds and share issuance until settlements no later than September 30, 2027
AI summaries of BNL 8-K current reports filed with the SEC. What 8-K item codes mean
SignalX for BNL
Don't miss the next BNL filing
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- Fund moves. Which tracked funds opened, added or cut BNL, by share count.
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Recent Insider Transactions (Form 4)
Latest reported trades by officers, directors and 10% owners
| Insider | Type | Date | Shares | Price |
|---|---|---|---|---|
| Saffire Joseph | A | Oct 1, 2026 | 912 | - |
| Watters James H | A | Oct 1, 2026 | 1,013 | - |
| JACOBSTEIN DAVID M | A | Oct 1, 2026 | 202 | - |
| Duran Jessica | A | Oct 1, 2026 | 1,148 | - |
| COKE MICHAEL A | A | Oct 1, 2026 | 1,081 | - |
| Imperiale Richard P | A | Oct 1, 2026 | 523 | - |
| Hawkes Laurie A. | A | Oct 1, 2026 | 1,858 | - |
| Felice Laura L. | A | Oct 1, 2026 | 1,148 | - |
Financial SummaryXBRL
| Metric | FY2023 | FY2024 | FY2025 |
|---|---|---|---|
| Profitability | |||
| Revenue | $442.9M | $431.8M | $454.1M |
| Net Income | $155.5M | $162.4M | $96.5M |
| Net Margin | 35.1% | 37.6% | 21.2% |
| Balance Sheet | |||
| Total Assets | $5.3B | $5.2B | $5.7B |
| Equity | $3.0B | $3.0B | $2.9B |
| ROE | 5.1% | 5.4% | 3.3% |
| Per Share | |||
| EPS | $0.83 | $0.86 | $0.50 |
| Cash Flow | |||
| Operating CF | $271.1M | $276.3M | $299.5M |
| CapEx | - | $16.8M | $29.7M |
Source: XBRL data in Broadstone Net Lease, Inc. (BNL)'s 10-K filings on SEC EDGAR, in USD. Compare across companies →
13F Fund Holdings: Quarterly Trend
Latest: Q2 2026Aggregate BNL share value held by 13F filers tracked by SignalX, by quarter.
Quarterly totals table
| Quarter | Funds | Total value |
|---|---|---|
| Q2 2026 | 32 | $2.08B |
| Q1 2026 | 33 | $1.56B |
| Q4 2025 | 31 | $1.44B |
| Q3 2025 | 30 | $1.42B |
| Q2 2025 | 32 | $1.25B |
| Q1 2025 | 28 | $1.12B |
| Q4 2024 | 23 | $987.5M |
| Q3 2024 | 19 | $445.1M |
- BlackRock+9.10M (+36%)
- State Street Corp+2.92M (+37%)
- Vanguard Portfolio Management LLC+1.92M (+11%)
- Principal Financial Group+690.2K (+113%)
- JPMorgan Chase & Co+644.1K (+31%)
- Goldman Sachs Group−677.8K (-33%)
- Bank of America Corp−636.4K (-29%)
- Two Sigma Investments−367.0K (-16%)
- FMR LLC (Fidelity)−333.3K (-95%)
- Invesco Ltd−239.0K (-5%)
- Citadel Advisors LLC−793.3K
Source: 13F-HR filings on SEC EDGAR (aggregated from 228 fund-quarter rows). Reflects only 13F filers tracked by SignalX, not the full institutional ownership universe. How 13F filings work
BNL filing archive
AI analysis pages for each 10-K, 10-Q and 8-K
10-K annual reports
10-Q quarterly reports
Latest 2026 SEC Filings: 10-K, 10-Q, 8-K & Form 4
| Form | Filing date | Period | Analysis | SEC |
|---|---|---|---|---|
| 8-K | Oct 5, 2026 | - | - | - |
| 4 | Oct 2, 2026 | - | - | - |
| 4 | Oct 2, 2026 | - | - | - |
| 4 | Oct 2, 2026 | - | - | - |
| 4 | Oct 2, 2026 | - | - | - |
| 4 | Oct 2, 2026 | - | - | - |
| 4 | Oct 2, 2026 | - | - | - |
| 4 | Oct 2, 2026 | - | - | - |
| 4 | Oct 2, 2026 | - | - | - |
| 8-K | Aug 25, 2026 | - | Analysis | - |
| 4 | Aug 24, 2026 | - | - | - |
| 8-K | Aug 10, 2026 | - | Analysis | - |
| SC 13G | Aug 7, 2026 | - | - | |
| 10-Q | Jul 29, 2026 | Jun 30, 2026 | Analysis | |
| 8-K | Jul 29, 2026 | - | Analysis | - |
| 8-K | Jul 29, 2026 | - | Analysis | - |
| 8-K | Jul 8, 2026 | - | Analysis | - |
| 8-K | Jul 2, 2026 | - | Analysis | - |
| 8-K | Jun 11, 2026 | - | Analysis | - |
| 8-K | May 1, 2026 | - | Analysis | - |
| 4 | May 1, 2026 | - | - | - |
| 4 | May 1, 2026 | - | - | - |
| 4 | May 1, 2026 | - | - | - |
| 4 | May 1, 2026 | - | - | - |
| 4 | May 1, 2026 | - | - | - |
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BNL SEC filings: frequently asked questions
Are BNL insiders buying or selling?
In the last 90 days, Broadstone Net Lease, Inc. (BNL) officers, directors and 10% owners reported 2 open-market purchases worth $211,600 by 1 insider and no open-market sales on Form 4. Many insider sales are pre-planned or for taxes, so purchases usually carry more information.
Which institutions hold BNL stock?
As of June 30, 2026, the largest Broadstone Net Lease, Inc. (BNL) holders among the 13F filers tracked by SignalX were BlackRock ($712.3 million), Vanguard Portfolio Management LLC ($414.4 million), State Street Corp ($226.7 million), Vanguard Capital Management LLC ($178.2 million), Invesco Ltd ($89.0 million). 13F-HR reports are filed up to 45 days after each quarter ends.
What was BNL's revenue in fiscal year 2025?
For the fiscal year ended December 31, 2025 (FY2025), Broadstone Net Lease, Inc. (BNL) reported revenue of $454.1 million (up 5.2% from FY2024) and net income of $96.5 million. Diluted EPS was $0.50. The figures come from the XBRL data in the 10-K.
What are the main risks in BNL's latest 10-K?
In the 10-K filed February 19, 2026, Broadstone Net Lease, Inc. (BNL) flagged: Risk of tenant default under master leases affecting 38.6% of ABR, with 64.9% of multi-site tenant ABR linked to master leases as of 12/31/25. Geographic concentration risk: 35.4% of ABR in top 5 states including Texas (10.2%) and Michigan (8.6%) vulnerable to regional downturns. (AI summary of the Risk Factors section.)
What did BNL report in its latest 8-K?
Broadstone Net Lease, Inc. (BNL) filed an 8-K on August 25, 2026 reporting Item 7.01 (Regulation FD Disclosure). Broadstone Net Lease issued a press release on August 25, 2026, updating investors on recent business activity.
What are the latest BNL SEC filings?
Broadstone Net Lease, Inc. (BNL) filed its latest 10-K annual report on February 19, 2026, a 10-Q quarterly report on July 29, 2026, an 8-K current report on October 5, 2026 and a Form 4 insider filing on October 2, 2026.
What is BNL's SEC CIK number?
Broadstone Net Lease, Inc. (BNL)'s SEC Central Index Key (CIK) is 1424182. EDGAR lists every BNL filing under that number.
Ask anything about BNL
The research agent reads BNL's filings, financials, insider trades and 13F holders, then answers with sources.