Broadstone Net Lease (NYSE:BNL) Hits New 52-Week High – Here’s Why

Broadstone Net Lease, Inc. (NYSE:BNL) shares hit a new 52-week high during trading on Monday . The company traded as high as $22.05 and last traded at $22.0910, with a volume of 50198 shares traded. The stock had previously closed at $21.83.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. BTIG Research increased their price objective on Broadstone Net Lease from $21.00 to $23.00 and gave the company a “buy” rating in a report on Friday, June 26th. Cantor Fitzgerald upped their target price on Broadstone Net Lease from $21.00 to $22.00 and gave the company an “overweight” rating in a research report on Monday, May 4th. KeyCorp increased their price target on shares of Broadstone Net Lease from $20.00 to $24.00 and gave the stock an “overweight” rating in a report on Thursday, July 9th. BMO Capital Markets raised their price target on shares of Broadstone Net Lease from $24.00 to $26.00 and gave the stock an “outperform” rating in a research report on Friday. Finally, Truist Financial set a $22.00 price objective on shares of Broadstone Net Lease in a research note on Monday, June 8th. Eight investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $21.70.

Broadstone Net Lease Trading Down 0.2%

The firm has a 50-day simple moving average of $20.68 and a two-hundred day simple moving average of $19.56. The company has a market capitalization of $4.19 billion, a price-to-earnings ratio of 33.70 and a beta of 0.94.

Broadstone Net Lease (NYSE:BNL) last issued its quarterly earnings data on Wednesday, April 29th. The company reported $0.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.18 by $0.06. Broadstone Net Lease had a return on equity of 4.17% and a net margin of 27.01%.The business had revenue of $121.40 million during the quarter, compared to analysts’ expectations of $118.84 million. Broadstone Net Lease has set its FY 2026 guidance at 1.530-1.570 EPS. Equities research analysts anticipate that Broadstone Net Lease, Inc. will post 1.52 EPS for the current year.

Broadstone Net Lease Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th will be issued a $0.2925 dividend. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $1.17 dividend on an annualized basis and a yield of 5.3%. Broadstone Net Lease’s payout ratio is presently 180.00%.

Institutional Investors Weigh In On Broadstone Net Lease

Several hedge funds have recently bought and sold shares of BNL. Royal Bank of Canada increased its holdings in shares of Broadstone Net Lease by 69.9% during the 1st quarter. Royal Bank of Canada now owns 91,943 shares of the company’s stock valued at $1,566,000 after purchasing an additional 37,830 shares in the last quarter. AQR Capital Management LLC grew its position in Broadstone Net Lease by 52.8% during the first quarter. AQR Capital Management LLC now owns 25,599 shares of the company’s stock valued at $436,000 after buying an additional 8,848 shares during the period. Millennium Management LLC grew its position in Broadstone Net Lease by 2.3% during the first quarter. Millennium Management LLC now owns 1,147,372 shares of the company’s stock valued at $19,551,000 after buying an additional 25,944 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in Broadstone Net Lease by 5.8% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,283,889 shares of the company’s stock valued at $21,877,000 after buying an additional 70,534 shares in the last quarter. Finally, Jane Street Group LLC increased its holdings in Broadstone Net Lease by 292.3% in the first quarter. Jane Street Group LLC now owns 553,738 shares of the company’s stock valued at $9,436,000 after buying an additional 412,604 shares in the last quarter. Hedge funds and other institutional investors own 89.07% of the company’s stock.

About Broadstone Net Lease

Broadstone Net Lease, Inc (NYSE: BNL) is a publicly traded real estate investment trust focused on owning and operating single-tenant commercial properties under long-term net leases. The company specializes in acquiring properties that are leased to creditworthy tenants, allowing it to generate predictable, stable rental income while transferring most operating expenses and responsibilities to its lessees.

Broadstone Net Lease’s portfolio spans a variety of property types, including industrial facilities, distribution centers, manufacturing plants, life science and office buildings, and essential retail locations.