Broadstone Net Lease (NYSE:BNL) Receives “Market Outperform” Rating from Citizens Jmp

Citizens Jmp restated their market outperform rating on shares of Broadstone Net Lease (NYSE:BNL) in a research note published on Tuesday,Benzinga reports. Citizens Jmp currently has a $21.00 price target on the stock.

A number of other brokerages also recently issued reports on BNL. Cantor Fitzgerald started coverage on Broadstone Net Lease in a research report on Wednesday, October 1st. They set an “overweight” rating and a $21.00 price target for the company. JMP Securities reaffirmed a “market outperform” rating and issued a $21.00 price target on shares of Broadstone Net Lease in a research note on Monday, September 29th. BTIG Research reiterated a “buy” rating and set a $22.00 target price on shares of Broadstone Net Lease in a report on Wednesday, October 1st. KeyCorp raised shares of Broadstone Net Lease from a “sector weight” rating to an “overweight” rating and set a $20.00 price objective on the stock in a research report on Tuesday, August 19th. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Broadstone Net Lease in a research note on Wednesday, October 8th. Eight equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $20.20.

Broadstone Net Lease Stock Down 0.4%

NYSE BNL opened at $17.43 on Tuesday. The firm has a market cap of $3.30 billion, a P/E ratio of 37.08 and a beta of 1.03. The company’s 50 day moving average is $18.19 and its 200-day moving average is $17.27. Broadstone Net Lease has a 12-month low of $13.96 and a 12-month high of $18.87.

Broadstone Net Lease (NYSE:BNL) last announced its quarterly earnings results on Wednesday, October 29th. The company reported $0.14 earnings per share for the quarter, missing the consensus estimate 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 2.93%. Broadstone Net Lease has set its FY 2025 guidance at 1.490-1.500 EPS. Equities analysts expect that Broadstone Net Lease will post 1.43 EPS for the current year.

Broadstone Net Lease Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 15th. Investors of record on Wednesday, December 31st will be given a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a yield of 6.7%. The ex-dividend date is Wednesday, December 31st. Broadstone Net Lease’s dividend payout ratio is 246.81%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of BNL. Strategic Advocates LLC purchased a new position in shares of Broadstone Net Lease in the third quarter worth approximately $30,000. Blue Trust Inc. raised its position in Broadstone Net Lease by 96.9% in the third quarter. Blue Trust Inc. now owns 1,790 shares of the company’s stock worth $32,000 after acquiring an additional 881 shares during the period. Wolff Wiese Magana LLC purchased a new position in shares of Broadstone Net Lease during the 2nd quarter worth $45,000. Advisory Services Network LLC purchased a new position in shares of Broadstone Net Lease during the 3rd quarter worth $61,000. Finally, EverSource Wealth Advisors LLC grew its position in shares of Broadstone Net Lease by 80.9% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 4,261 shares of the company’s stock valued at $68,000 after acquiring an additional 1,906 shares during the period. 89.07% of the stock is owned by hedge funds and other institutional investors.

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.