Broadstone Net Lease (NYSE:BNL) Issues Earnings Results

Broadstone Net Lease (NYSE:BNL) 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

BNL has been the subject of a number of recent analyst reports. Wolfe Research reissued a “peer perform” rating on shares of Broadstone Net Lease in a report on Tuesday, April 9th. KeyCorp started coverage on shares of Broadstone Net Lease in a report on Wednesday, June 12th. They issued a “sector weight” rating for the company. One analyst has rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $16.75.

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.