Is Broadstone Net Lease, Inc. overvalued or undervalued?

As of 3 August 2021, Broadstone Net Lease, Inc. has moved from a fair to a very attractive valuation grade. The company appears to be undervalued, given its P/E ratio of 20, which is significantly lower than peers such as Essential Properties Realty Trust, Inc. with a P/E of 28.21 and Cousins Properties, Inc. at 96.12. Additionally, Broadstone's EV to EBITDA ratio stands at 8.20, which is competitive compared to the industry average, indicating a favorable valuation relative to earnings.
Further supporting this undervaluation, Broadstone boasts a dividend yield of 7.10%, which is appealing in the current market environment. Its ROCE of 7.29% and ROE of 5.15% suggest that the company is generating reasonable returns on capital and equity, respectively. While Broadstone's recent stock performance has lagged behind the S&P 500 over longer periods, its recent 1-week return of 3.56% compared to the S&P 500's -0.13% indicates a potential turnaround. Overall, Broadstone Net Lease, Inc. presents a compelling investment opportunity at its current price.