Broadstone Net Lease (BNL) vs Independence Realty (IRT)
Head-to-head comparison of performance, valuation, growth, profitability and dividends. Prices delayed 15 minutes; data as of Oct 9, 2026.
Summary
Broadstone Net Lease (BNL) has outperformed Independence Realty (IRT) over the past year, losing 0.9% versus a loss of 10.5%. Over five years, BNL leads with a -29.7% price change compared with -31.3% for IRT. Broadstone Net Lease is the larger company by market cap ($3.89 billion vs $3.59 billion), about 1.1 times the size.
On valuation, Broadstone Net Lease trades at a lower forward P/E (26.6x vs 185.6x for Independence Realty). Broadstone Net Lease offers the higher dividend yield (6.37% vs 4.65%). Broadstone Net Lease converts more of its revenue into profit, with a net margin of 21.2% versus 8.6%.
Summary generated from market data by MetaCap's automated system. Methodology
Relative performance
Percent change in share price from the first common trading day shown; excludes dividends.
Head-to-head
| Metric | BNL | IRT |
|---|---|---|
| Share price | $18.28 | $14.85 |
| Market cap | $3.89B | $3.59B |
| 1-day change | +0.22% | +1.40% |
| YTD return | +5.01% | -16.25% |
| 1-year return | -0.87% | -10.51% |
| 5-year return | -29.71% | -31.30% |
| P/E ratio (TTM) | 24.05 | 82.47 |
| Forward P/E | 26.57 | 185.56 |
| EPS (TTM) | $0.76 | $0.18 |
| Dividend yield | 6.37% | 4.65% |
| Annual dividend | $1.17 | $0.69 |
| Revenue (latest FY) | $454.14M | $657.70M |
| Revenue growth (YoY) | +5.17% | +2.76% |
| Net income (latest FY) | $96.50M | $56.56M |
| Net margin | 21.25% | 8.60% |
| 52-week high | $23.10 | $17.79 |
| 52-week low | $17.16 | $14.33 |
| Distance from 52-week high | -20.87% | -16.55% |
| Analyst consensus | buy | buy |
| Avg. price target upside | +29.10% | +29.81% |
| Average volume | 2.02M | 3.21M |
| Shares outstanding | 204.60M | 235.74M |
| Employees | 62 | 904 |
| Sector | Real Estate | Real Estate |
| Industry | Real Estate Investment Trusts | Real Estate Investment Trusts |
Highlighted cells mark the higher value for growth, returns, margins and yield, and the lower value for P/E ratios. Highlighting is a mechanical comparison, not a recommendation.
Key differences
- Independence Realty trades at a higher earnings multiple (82.5x vs 24.1x trailing P/E).
- Broadstone Net Lease offers a meaningfully higher dividend yield (6.37% vs 4.65%).
- Broadstone Net Lease is more profitable, keeping 21.2 cents of every revenue dollar as net income versus 8.6 cents for Independence Realty.
About Broadstone Net Lease
BNL stock →Broadstone Net Lease, Inc. is an industrial-focused, diversified net lease REIT that invests in primarily single-tenant commercial real estate properties that are net leased on a long-term basis to a diversified group of tenants.
Real Estate · Real Estate Investment Trusts · 62 employees
About Independence Realty
IRT stock →Independence Realty Trust, Inc., an S&P 400 MidCap Company, is a real estate investment trust that owns and operates multifamily communities across non-gateway U.S. markets.
Real Estate · Real Estate Investment Trusts · 904 employees
BNL vs IRT FAQ
Which is bigger, Broadstone Net Lease or Independence Realty?
Broadstone Net Lease (BNL) is larger, with a market capitalization of $3.89B compared with $3.59B for Independence Realty (IRT).
Which stock has performed better over the past year, BNL or IRT?
BNL returned -0.87% over the past 12 months, compared with -10.51% for IRT (price return, excluding dividends). Past performance does not predict future results.
Which has the lower P/E ratio, BNL or IRT?
BNL has the lower trailing P/E at 24.1, versus 82.5 for IRT. A lower P/E is not by itself a sign of a better investment; it can reflect slower expected growth or higher risk.
Which pays a higher dividend, Broadstone Net Lease or Independence Realty?
Broadstone Net Lease has the higher yield at 6.37%, compared with 4.65% for Independence Realty.
Are Broadstone Net Lease and Independence Realty in the same industry?
Yes. Both are classified in the Real Estate Investment Trusts industry within the Real Estate sector.