Broadstone Net Lease, Inc. (NYSE:BNL) Given Average Recommendation of “Moderate Buy” by Brokerages

Shares of Broadstone Net Lease, Inc. (NYSE:BNL) have earned an average recommendation of “Moderate Buy” from the eleven research firms that are currently covering the stock, Marketbeat reports. Three equities research analysts have rated the stock with a hold recommendation, seven have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $19.8889.

A number of research analysts have issued reports on the stock. JMP Securities reaffirmed a “market outperform” rating and issued a $21.00 target price on shares of Broadstone Net Lease in a report on Monday, September 29th. The Goldman Sachs Group raised Broadstone Net Lease from a “sell” rating to a “buy” rating and set a $21.00 price objective for the company in a research note on Thursday, August 21st. BTIG Research reaffirmed a “buy” rating and set a $22.00 price objective on shares of Broadstone Net Lease in a report on Wednesday, October 1st. Weiss Ratings reissued a “hold (c+)” rating on shares of Broadstone Net Lease in a report on Wednesday, October 8th. Finally, Cantor Fitzgerald began coverage on Broadstone Net Lease in a research report on Wednesday, October 1st. They issued an “overweight” rating and a $21.00 price target for the company.

Broadstone Net Lease Stock Performance

Shares of NYSE BNL opened at $18.15 on Thursday. Broadstone Net Lease has a one year low of $13.96 and a one year high of $18.87. The firm has a market capitalization of $3.43 billion, a P/E ratio of 38.61 and a beta of 1.00. The company’s fifty day moving average is $18.36 and its two-hundred day moving average is $17.08.

Broadstone Net Lease (NYSE:BNL) last announced its quarterly earnings results on Wednesday, October 29th. The company reported $0.14 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.23). The company had revenue of $114.17 million during the quarter, compared to analysts’ expectations of $111.89 million. Broadstone Net Lease had a net margin of 20.04% and a return on equity of 2.91%. Broadstone Net Lease has set its FY 2025 guidance at 1.490-1.500 EPS. On average, sell-side analysts forecast that Broadstone Net Lease will post 1.43 earnings per share for the current fiscal year.

Broadstone Net Lease Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 15th. Shareholders of record on Wednesday, December 31st will be issued a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a yield of 6.4%. The ex-dividend date is Wednesday, December 31st. Broadstone Net Lease’s dividend payout ratio (DPR) is 246.81%.

Institutional Trading of Broadstone Net Lease

Several large investors have recently modified their holdings of the business. Vanguard Group Inc. increased its stake in shares of Broadstone Net Lease by 1.0% during the 1st quarter. Vanguard Group Inc. now owns 27,711,994 shares of the company’s stock worth $472,212,000 after purchasing an additional 266,900 shares in the last quarter. State Street Corp increased its position in Broadstone Net Lease by 2.2% during the second quarter. State Street Corp now owns 8,388,518 shares of the company’s stock worth $136,998,000 after buying an additional 178,186 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Broadstone Net Lease by 1.5% in the second quarter. Geode Capital Management LLC now owns 5,104,154 shares of the company’s stock worth $81,929,000 after acquiring an additional 76,531 shares during the last quarter. Centersquare Investment Management LLC raised its holdings in shares of Broadstone Net Lease by 3.0% in the third quarter. Centersquare Investment Management LLC now owns 5,052,587 shares of the company’s stock worth $90,290,000 after acquiring an additional 146,402 shares during the last quarter. Finally, Alliancebernstein L.P. lifted its position in shares of Broadstone Net Lease by 2.7% in the second quarter. Alliancebernstein L.P. now owns 4,791,006 shares of the company’s stock valued at $76,896,000 after acquiring an additional 124,589 shares in the last quarter. 89.07% of the stock is currently owned by institutional investors and hedge funds.

About Broadstone Net Lease

Broadstone Net Lease, Inc (the Corporation) is a Maryland corporation formed on October 18, 2007, that elected to be taxed as a real estate investment trust (REIT) commencing with the taxable year ended December 31, 2008. Broadstone Net Lease, LLC (the Corporation’s operating company, or the OP), is the entity through which the Corporation conducts its business and owns (either directly or through subsidiaries) all of the Corporation’s properties.