Broadstone Net Lease (NYSE:BNL – Get Free Report) released its earnings results on Tuesday. The company reported $0.19 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.34 by ($0.15), Yahoo Finance reports. Broadstone Net Lease had a return on equity of 4.85% and a net margin of 36.78%. The business had revenue of $105.91 million for the quarter, compared to analyst estimates of $105.95 million. During the same quarter in the previous year, the firm posted $0.35 EPS. Broadstone Net Lease updated its FY 2024 guidance to 1.410-1.430 EPS.
Broadstone Net Lease Price Performance
NYSE:BNL traded down $0.09 on Thursday, reaching $17.32. The stock had a trading volume of 1,525,554 shares, compared to its average volume of 1,218,981. Broadstone Net Lease has a 12-month low of $13.68 and a 12-month high of $18.10. The company has a market cap of $3.26 billion, a price-to-earnings ratio of 18.10 and a beta of 1.11. The firm’s fifty day moving average is $16.02 and its two-hundred day moving average is $15.57.
Broadstone Net Lease Announces Dividend
The business also recently disclosed 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 dividend yield of 6.70%. The ex-dividend date is Monday, September 30th. Broadstone Net Lease’s payout ratio is currently 120.83%.
Wall Street Analyst Weigh In
Check Out Our Latest Stock Report on BNL
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.
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