Broadstone Net Lease (BNL) Scheduled to Post Earnings on Wednesday

Broadstone Net Lease (NYSE:BNL) will be posting its quarterly earnings results after the market closes on Wednesday, May 1st. Analysts expect Broadstone Net Lease to post earnings of $0.34 per share for the quarter. Individual interested in registering for the company’s earnings conference call can do so using this link.

Broadstone Net Lease Stock Performance

BNL stock opened at $14.55 on Wednesday. The stock has a market cap of $2.73 billion, a P/E ratio of 17.74 and a beta of 1.09. The firm has a 50 day simple moving average of $14.98 and a 200 day simple moving average of $15.58. Broadstone Net Lease has a 52 week low of $13.68 and a 52 week high of $17.59.

Broadstone Net Lease Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Friday, March 29th were issued a dividend of $0.285 per share. This represents a $1.14 annualized dividend and a dividend yield of 7.84%. The ex-dividend date was Wednesday, March 27th. Broadstone Net Lease’s dividend payout ratio is currently 139.03%.

Insider Activity at Broadstone Net Lease

In related news, Director Michael A. Coke bought 10,000 shares of the business’s stock in a transaction that occurred on Monday, February 26th. The stock was purchased at an average cost of $14.67 per share, for a total transaction of $146,700.00. Following the purchase, the director now directly owns 34,817 shares in the company, valued at $510,765.39. The purchase was disclosed in a filing with the SEC, which is available through this link. In other Broadstone Net Lease news, Director Michael A. Coke purchased 10,000 shares of the stock in a transaction on Monday, February 26th. The shares were purchased at an average price of $14.67 per share, with a total value of $146,700.00. Following the acquisition, the director now directly owns 34,817 shares of the company’s stock, valued at approximately $510,765.39. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Kevin Fennell purchased 4,000 shares of the stock in a transaction on Monday, February 26th. The stock was acquired at an average cost of $14.63 per share, for a total transaction of $58,520.00. Following the acquisition, the chief financial officer now directly owns 63,556 shares in the company, valued at $929,824.28. The disclosure for this purchase can be found here. Corporate insiders own 0.81% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently weighed in on BNL shares. Wolfe Research reaffirmed a “peer perform” rating on shares of Broadstone Net Lease in a research report on Tuesday, April 9th. The Goldman Sachs Group initiated coverage on shares of Broadstone Net Lease in a research note on Thursday, March 7th. They issued a “sell” rating and a $14.00 price objective for the company. Truist Financial reduced their price objective on shares of Broadstone Net Lease from $18.00 to $17.00 and set a “hold” rating for the company in a research note on Tuesday, February 27th. Finally, TheStreet cut shares of Broadstone Net Lease from a “b-” rating to a “c+” rating in a research note on Thursday, February 22nd. One analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $16.75.

About Broadstone Net Lease

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.