Broadstone Net Lease, Inc. (NYSE:BNL) Receives $16.75 Consensus Target Price from Analysts

Broadstone Net Lease, Inc. (NYSE:BNL) has been given an average recommendation of “Hold” by the six analysts that are currently covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation and one has assigned a buy recommendation to the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $16.75.

A number of analysts have weighed in on the company. Wolfe Research reaffirmed a “peer perform” rating on shares of Broadstone Net Lease in a research report on Tuesday, April 9th. KeyCorp began coverage on Broadstone Net Lease in a research report on Wednesday, June 12th. They set a “sector weight” rating for the company.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in BNL. Principal Securities Inc. acquired a new position in shares of Broadstone Net Lease during the fourth quarter valued at about $32,000. Federated Hermes Inc. acquired a new position in shares of Broadstone Net Lease during the fourth quarter valued at about $49,000. Tennessee Valley Asset Management Partners acquired a new position in Broadstone Net Lease in the fourth quarter worth about $86,000. Arden Trust Co acquired a new position in Broadstone Net Lease in the second quarter worth about $180,000. Finally, Quotient Wealth Partners LLC acquired a new position in Broadstone Net Lease in the fourth quarter worth about $186,000. Institutional investors and hedge funds own 89.07% of the company’s stock.

Broadstone Net Lease Trading Up 1.6 %

Shares of NYSE:BNL opened at $17.27 on Wednesday. Broadstone Net Lease has a 1 year low of $13.68 and a 1 year high of $17.59. The business has a fifty day simple moving average of $15.59 and a 200 day simple moving average of $15.54. The firm has a market cap of $3.25 billion, a price-to-earnings ratio of 17.99 and a beta of 1.11.

Broadstone Net Lease (NYSE:BNL) last announced its quarterly earnings data on Wednesday, May 1st. The company reported $0.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.34 by $0.01. Broadstone Net Lease had a return on equity of 5.60% and a net margin of 42.23%. The business had revenue of $105.37 million during the quarter, compared to analyst estimates of $107.76 million. During the same period last year, the company earned $0.34 earnings per share. On average, sell-side analysts forecast that Broadstone Net Lease will post 1.39 EPS for the current year.

Broadstone Net Lease Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, July 15th. Stockholders of record on Friday, June 28th were given a dividend of $0.29 per share. The ex-dividend date of this dividend was Friday, June 28th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 6.72%. This is a positive change from Broadstone Net Lease’s previous quarterly dividend of $0.29. Broadstone Net Lease’s dividend payout ratio is currently 120.83%.

About Broadstone Net Lease

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.