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

Broadstone Net Lease, Inc. (NYSE:BNL) has been assigned an average recommendation of “Hold” from the six research firms that are covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating on the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $18.00.

BNL has been the topic of several research reports. The Goldman Sachs Group raised their price objective on shares of Broadstone Net Lease from $14.50 to $16.00 and gave the company a “sell” rating in a research report on Friday, September 13th. Truist Financial lifted their price target on Broadstone Net Lease from $16.00 to $18.00 and gave the stock a “hold” rating in a research note on Friday, August 16th. Wedbush began coverage on Broadstone Net Lease in a research report on Monday, August 19th. They set an “outperform” rating and a $20.00 price objective on the stock. Finally, KeyCorp began coverage on Broadstone Net Lease in a research note on Wednesday, June 12th. They issued a “sector weight” rating for the company.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. boosted its position in Broadstone Net Lease by 0.6% during the 1st quarter. Vanguard Group Inc. now owns 27,962,340 shares of the company’s stock valued at $438,170,000 after buying an additional 178,102 shares during the period. Cohen & Steers Inc. grew its stake in shares of Broadstone Net Lease by 22.4% in the fourth quarter. Cohen & Steers Inc. now owns 3,752,300 shares of the company’s stock worth $64,615,000 after purchasing an additional 686,765 shares during the last quarter. Millennium Management LLC grew its stake in shares of Broadstone Net Lease by 709.4% in the second quarter. Millennium Management LLC now owns 3,177,459 shares of the company’s stock worth $50,426,000 after purchasing an additional 2,784,878 shares during the last quarter. Cbre Investment Management Listed Real Assets LLC increased its holdings in Broadstone Net Lease by 74.3% during the 4th quarter. Cbre Investment Management Listed Real Assets LLC now owns 2,860,534 shares of the company’s stock valued at $49,258,000 after purchasing an additional 1,219,509 shares during the period. Finally, Dimensional Fund Advisors LP raised its position in Broadstone Net Lease by 25.1% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,332,490 shares of the company’s stock valued at $40,166,000 after purchasing an additional 467,919 shares during the last quarter. Institutional investors own 89.07% of the company’s stock.

Broadstone Net Lease Stock Performance

Shares of BNL stock opened at $18.84 on Monday. The company has a market capitalization of $3.55 billion, a PE ratio of 19.63 and a beta of 1.11. Broadstone Net Lease has a 52-week low of $13.68 and a 52-week high of $19.10. The business’s fifty day moving average is $18.02 and its 200 day moving average is $16.29.

Broadstone Net Lease (NYSE:BNL) last issued its quarterly earnings data on Tuesday, July 30th. The company reported $0.19 EPS for the quarter, missing the consensus estimate 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 business had revenue of $105.91 million for the quarter, compared to analysts’ expectations of $105.95 million. During the same period in the previous year, the firm posted $0.35 EPS. On average, sell-side analysts forecast that Broadstone Net Lease will post 1.39 EPS for the current fiscal year.

Broadstone Net Lease Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th will be paid a $0.29 dividend. The ex-dividend date is Monday, September 30th. This represents a $1.16 dividend on an annualized basis and a yield of 6.16%. Broadstone Net Lease’s dividend payout ratio (DPR) is currently 120.83%.

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.