−Removed: Market for Registrant’s Common Equity, Related Stoc kholder Matters and Issuer Purchases of Equity Securities
+Added: Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities
Market Information
7 unchanged sentences
Performance Graph
−Removed: The following graph is a comparison of the cumulative total return of shares of our common stock, the S&P 500, and the MCSI US REIT Index.
−Removed: The graph assumes that $100 was invested on December 31, 2019, in each of shares of our common stock, the S&P 500 and the MCSI US REIT Index, and that all dividends were reinvested.
+Added: The following graph is a comparison of the cumulative total return of shares of our common stock, the S&P 500, and the MSCI US REIT Index.
+Added: The graph assumes that $100 was invested on December 31, 2020, in each of shares of our common stock, the S&P 500 and the MSCI US REIT Index, and that all dividends were reinvested.
There can be no assurance that the performance of our shares will continue in line with the same or similar trends depicted in the graph below.
−Removed: The MCSI US REIT Index is a free float-adjusted market capitalization index that is comprised of equity REITs.
+Added: The MSCI US REIT Index is a free float-adjusted market capitalization index that is comprised of equity REITs.
The index is based on MSCI USA Investable Market Index (IMI), its parent index, which captures large, mid, and small capitalization securities.
−Removed: While funds used in this benchmark typically target institutional investors and have characteristics that differ from us (including differing fees), we feel that the MCSI US REIT Index is an appropriate and accepted index for the purpose of evaluating returns on investments in direct real estate funds.
+Added: While funds used in this benchmark typically target institutional investors and have characteristics that differ from us (including differing fees), we feel that the MSCI US REIT Index is an appropriate and accepted index for the purpose of evaluating returns on investments in direct real estate funds.
+Added: 2020 2021 2022 2023 2024 2025
Broadstone Net Lease 100.00 132.67 91.87 104.73 103.60 121.50
+Added: S&P 500 100.00 128.71 105.40 133.10 166.40 196.20
MSCI US REIT Index 100.00 143.06 108.00 122.84 133.58 137.50
−Removed: Prior to our IPO in September 2020 and the listing of our common stock on the NYSE, we sold shares of common stock in a private offering at a share price established by the committee of our Board of Directors comprised of our independent directors (“Independent Directors Committee”) based on the net asset value of our portfolio, input from management and third-party consultants, and such other factors the Independent Directors Committee deemed necessary.
−Removed: Subsequent to our IPO and listing of our common stock on the NYSE, our share price is determined by market participants.
The information in this “Performance Graph” section is not “soliciting material,” is not deemed “filed” with the SEC, and is not to be incorporated by reference into any of our filings under the Securities Act or the Exchange Act, whether made before or after the date hereof and irrespective of any general incorporation language contained in such filing, except as shall be expressly set forth by specific reference in such filing.
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.