Broadstone Net Lease, Inc. (NYSE:BNL) Receives Average Rating of “Moderate Buy” from Brokerages

Broadstone Net Lease, Inc. (NYSE:BNL) has received an average recommendation of “Moderate Buy” from the eleven ratings firms that are covering the firm, MarketBeat Ratings reports. Three investment analysts have rated the stock with a hold recommendation and eight have issued a buy recommendation on the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $20.10.

A number of equities analysts have weighed in on the stock. BTIG Research dropped their target price on shares of Broadstone Net Lease from $22.00 to $21.00 and set a “buy” rating for the company in a research note on Friday, December 5th. Wall Street Zen raised Broadstone Net Lease from a “sell” rating to a “hold” rating in a research note on Sunday, November 30th. JMP Securities reiterated a “market outperform” rating and issued a $21.00 price target on shares of Broadstone Net Lease in a report on Monday, September 29th. Cantor Fitzgerald reiterated an “overweight” rating on shares of Broadstone Net Lease in a research report on Thursday, December 4th. Finally, BMO Capital Markets restated an “outperform” rating on shares of Broadstone Net Lease in a research report on Thursday, December 4th.

Institutional Trading of Broadstone Net Lease

Several institutional investors and hedge funds have recently made changes to their positions in the business. Jane Street Group LLC increased its holdings in Broadstone Net Lease by 292.3% during the 1st quarter. Jane Street Group LLC now owns 553,738 shares of the company’s stock worth $9,436,000 after purchasing an additional 412,604 shares in the last quarter. Franklin Resources Inc. boosted its position in shares of Broadstone Net Lease by 14.6% during the second quarter. Franklin Resources Inc. now owns 649,748 shares of the company’s stock worth $10,428,000 after buying an additional 82,779 shares during the period. Canandaigua National Trust Co of Florida bought a new position in shares of Broadstone Net Lease during the second quarter worth about $965,000. Caisse DE Depot ET Placement DU Quebec acquired a new stake in Broadstone Net Lease in the 1st quarter valued at approximately $4,870,000. Finally, Promethium Advisors LLC lifted its stake in Broadstone Net Lease by 12.1% in the 1st quarter. Promethium Advisors LLC now owns 206,513 shares of the company’s stock valued at $3,579,000 after acquiring an additional 22,226 shares in the last quarter. Institutional investors own 89.07% of the company’s stock.

Broadstone Net Lease Stock Up 1.3%

Shares of BNL stock opened at $17.49 on Friday. The company has a market capitalization of $3.31 billion, a P/E ratio of 37.21 and a beta of 1.03. Broadstone Net Lease has a 12-month low of $13.96 and a 12-month high of $18.87. The firm has a 50-day moving average price of $17.93 and a 200 day moving average price of $17.45.

Broadstone Net Lease (NYSE:BNL) last posted its quarterly earnings data 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). Broadstone Net Lease had a return on equity of 2.93% and a net margin of 20.04%.The firm had revenue of $114.17 million for the quarter, compared to analyst estimates of $111.89 million. Broadstone Net Lease has set its FY 2025 guidance at 1.490-1.500 EPS. As a group, research analysts expect that Broadstone Net Lease will post 1.43 earnings per share for the current year.

Broadstone Net Lease Announces Dividend

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

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.