Is Broadstone Net Lease, Inc. overvalued or undervalued?

As of 3 August 2021, the valuation grade for Broadstone Net Lease, Inc. moved from expensive to very attractive, indicating a significant improvement in its valuation outlook. The company appears undervalued, particularly when considering its P/E ratio of 20, which is lower than the industry average, and an EV to EBITDA ratio of 8.20, suggesting it is trading at a discount relative to its earnings potential. Additionally, the Price to Book Value stands at 1.04, further supporting the undervaluation thesis.
In comparison to its peers, Broadstone Net Lease, Inc. has a P/E ratio of 24.20, while Essential Properties Realty Trust, Inc. is at 25.37 and Cousins Properties, Inc. at 82.34, indicating that Broadstone is relatively cheaper. The company’s 1-month return of 11.75% outperformed the S&P 500's 2.33%, but its 3-year return of -2.83% significantly lagged behind the S&P 500's 70.41%, highlighting a potential for recovery in the long term.