Broadstone Net Lease (NYSE:BNL) Trading Down 4.3% – What’s Next?

Broadstone Net Lease, Inc. (NYSE:BNL)’s share price fell 4.3% on Tuesday . The company traded as low as $17.98 and last traded at $17.6750. 2,721,049 shares changed hands during trading, an increase of 80% from the average session volume of 1,513,887 shares. The stock had previously closed at $18.46.

Wall Street Analysts Forecast Growth

BNL has been the topic of several analyst reports. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Broadstone Net Lease in a research note on Wednesday, October 8th. UBS Group increased their target price on shares of Broadstone Net Lease from $16.00 to $17.00 and gave the stock a “neutral” rating in a report on Friday, August 15th. BTIG Research restated a “buy” rating and set a $22.00 price objective on shares of Broadstone Net Lease in a research report on Wednesday, October 1st. KeyCorp upgraded shares of Broadstone Net Lease from a “sector weight” rating to an “overweight” rating and set a $20.00 target price for the company in a research report on Tuesday, August 19th. Finally, Wall Street Zen lowered Broadstone Net Lease from a “hold” rating to a “sell” rating in a report on Saturday. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $20.11.

Broadstone Net Lease Price Performance

The firm has a market capitalization of $3.34 billion, a price-to-earnings ratio of 37.57 and a beta of 1.00. The stock’s 50 day moving average price is $18.29 and its two-hundred day moving average price is $17.21.

Broadstone Net Lease (NYSE:BNL) last issued its earnings results on Wednesday, October 29th. The company reported $0.14 EPS for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.23). The firm had revenue of $114.17 million during the quarter, compared to analyst estimates 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. As a group, equities research analysts anticipate that Broadstone Net Lease, Inc. will post 1.43 EPS for the current fiscal year.

Broadstone Net Lease Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 15th. Investors of record on Wednesday, December 31st will be paid a dividend of $0.29 per share. The ex-dividend date of this dividend is Wednesday, December 31st. This represents a $1.16 dividend on an annualized basis and a dividend yield of 6.6%. Broadstone Net Lease’s payout ratio is 246.81%.

Institutional Trading of Broadstone Net Lease

A number of large investors have recently bought and sold shares of BNL. Vanguard Group Inc. grew 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 acquiring an additional 266,900 shares in the last quarter. State Street Corp increased its stake in shares of 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 purchasing an additional 178,186 shares during the period. Geode Capital Management LLC lifted its position in shares of Broadstone Net Lease by 1.5% during the 2nd quarter. Geode Capital Management LLC now owns 5,104,154 shares of the company’s stock valued at $81,929,000 after acquiring an additional 76,531 shares during the period. Centersquare Investment Management LLC raised its holdings in shares of Broadstone Net Lease by 3.0% during the 3rd quarter. Centersquare Investment Management LLC now owns 5,052,587 shares of the company’s stock worth $90,290,000 after buying an additional 146,402 shares in the last quarter. Finally, Alliancebernstein L.P. raised its position in 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 purchasing an additional 124,589 shares during the last quarter. 89.07% of the stock is owned by institutional investors.

Broadstone Net Lease Company Profile

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.