Broadstone Net Lease (NYSE:BNL) Releases FY 2024 Earnings Guidance

Broadstone Net Lease (NYSE:BNL) updated its FY 2024 earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of 1.410-1.430 for the period, compared to the consensus estimate of 1.480. The company issued revenue guidance of -.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on BNL. Wedbush began coverage on Broadstone Net Lease in a research report on Monday, August 19th. They issued an “outperform” rating and a $20.00 price target on the stock. The Goldman Sachs Group increased their target price on shares of Broadstone Net Lease from $14.50 to $16.00 and gave the stock a “sell” rating in a research report on Friday, September 13th. Finally, Truist Financial boosted their price target on shares of Broadstone Net Lease from $16.00 to $18.00 and gave the company a “hold” rating in a research report on Friday, August 16th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Broadstone Net Lease presently has a consensus rating of “Hold” and an average price target of $18.25.

Broadstone Net Lease Stock Performance

Shares of NYSE BNL traded down $0.13 during trading on Friday, reaching $17.46. The company had a trading volume of 1,224,747 shares, compared to its average volume of 1,156,666. Broadstone Net Lease has a 52 week low of $14.01 and a 52 week high of $19.15. The business’s 50 day moving average price is $18.38 and its 200-day moving average price is $16.83. The stock has a market cap of $3.29 billion, a PE ratio of 22.97 and a beta of 1.11.

Broadstone Net Lease (NYSE:BNL) last posted its quarterly earnings data on Tuesday, July 30th. The company reported $0.19 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.34 by ($0.15). The firm had revenue of $105.91 million for the quarter, compared to analyst estimates of $105.95 million. Broadstone Net Lease had a return on equity of 4.45% and a net margin of 33.56%. During the same period in the prior year, the company posted $0.35 EPS. Equities analysts anticipate that Broadstone Net Lease will post 1.39 earnings per share for the current year.

Broadstone Net Lease Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be issued a $0.29 dividend. This represents a $1.16 annualized dividend and a yield of 6.64%. The ex-dividend date of this dividend is Tuesday, December 31st. Broadstone Net Lease’s dividend payout ratio is 152.63%.

Broadstone Net Lease Company Profile

Broadstone Net Lease, Inc (the Corporation) is a Maryland corporation formed on October 18, 2007, that elected to be taxed as a real estate investment trust (REIT) commencing with the taxable year ended December 31, 2008. Broadstone Net Lease, LLC (the Corporation’s operating company, or the OP), is the entity through which the Corporation conducts its business and owns (either directly or through subsidiaries) all of the Corporation’s properties.