In September 2020, Broadstone Net Lease (NYSE: BNL) became a public company, selling shares at $17 each. That was right in the middle of the coronavirus pandemic, but a heavy industrial focus was the probable attraction for investors, as shares climbed to around $28 in 2021 as homebound shoppers bought more things online. The stock has since started a long downtrend, as interest have rates moved higher and life has returned to a more normal pace. Today, the stock is back to roughly $17, but after a number of dividend increases, the yield is a very attractive 6.6%. Here's why it looks sustainable.

Broadstone is a net-lease real estate investment trust (REIT). That means it owns single-tenant properties for which the tenant is responsible for most property-level expenses. While any single property is a high-risk investment (it's either 100% occupied or 0% occupied), across the REIT's roughly 800 properties the risk is fairly minimal.

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Source Fool.com