Broadstone Net Lease, Inc. (NYSE:BNL) Given Consensus Rating of “Hold” by Brokerages

Shares of Broadstone Net Lease, Inc. (NYSE:BNL) have been given an average rating of “Hold” by the seven brokerages that are covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, four have given a hold recommendation and two have issued a buy recommendation on the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $17.60.

A number of brokerages recently weighed in on BNL. KeyCorp assumed coverage on shares of Broadstone Net Lease in a research note on Wednesday, June 12th. They set a “sector weight” rating for the company. Truist Financial upped their target price on Broadstone Net Lease from $16.00 to $18.00 and gave the company a “hold” rating in a research report on Friday, August 16th. Finally, Wedbush initiated coverage on Broadstone Net Lease in a report on Monday, August 19th. They issued an “outperform” rating and a $20.00 target price for the company.

Broadstone Net Lease Stock Up 0.4 %

NYSE BNL opened at $18.44 on Thursday. The company has a market capitalization of $3.48 billion, a price-to-earnings ratio of 19.20 and a beta of 1.11. Broadstone Net Lease has a twelve month low of $13.68 and a twelve month high of $18.72. The stock has a fifty day simple moving average of $17.26 and a 200 day simple moving average of $15.85.

Broadstone Net Lease (NYSE:BNL) last issued its quarterly earnings data on Tuesday, July 30th. The company reported $0.19 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.15). Broadstone Net Lease had a return on equity of 4.86% and a net margin of 36.78%. The company had revenue of $105.91 million for the quarter, compared to the consensus estimate of $105.95 million. During the same quarter last year, the business earned $0.35 earnings per share. Research analysts expect that Broadstone Net Lease will post 1.39 earnings per share for the current fiscal year.

Broadstone Net Lease Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Monday, September 30th will be paid a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a yield of 6.29%. The ex-dividend date is Monday, September 30th. Broadstone Net Lease’s dividend payout ratio (DPR) is currently 120.83%.

Institutional Investors Weigh In On Broadstone Net Lease

Hedge funds and other institutional investors have recently modified their holdings of the company. Principal Securities Inc. bought a new stake in Broadstone Net Lease during the 4th quarter valued at $32,000. Quarry LP increased its position in shares of Broadstone Net Lease by 93.1% during the second quarter. Quarry LP now owns 2,556 shares of the company’s stock worth $41,000 after acquiring an additional 1,232 shares in the last quarter. Federated Hermes Inc. acquired a new stake in shares of Broadstone Net Lease in the 4th quarter worth about $49,000. Arden Trust Co bought a new position in Broadstone Net Lease in the 2nd quarter valued at about $180,000. Finally, Quotient Wealth Partners LLC acquired a new position in Broadstone Net Lease during the 4th quarter valued at about $186,000. Institutional investors own 89.07% of the company’s stock.

Broadstone Net Lease Company Profile

BNL is an industrial-focused, diversified net lease REIT that acquires, owns, and manages primarily single-tenant commercial real estate properties that are net leased on a long-term basis to a diversified group of tenants. Utilizing an investment strategy underpinned by strong fundamental credit analysis and prudent real estate underwriting, as of September 30, 2023, BNL's diversified portfolio consisted of 800 individual net leased commercial properties with 793 properties located in 44 U.S.