Brokerages Set Broadstone Net Lease, Inc. (NYSE:BNL) PT at $21.70

Broadstone Net Lease, Inc. (NYSE:BNL) has received an average recommendation of “Moderate Buy” from the twelve ratings firms that are currently covering the company, MarketBeat reports. Four research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The average 12 month target price among brokerages that have covered the stock in the last year is $21.70.

A number of equities analysts have issued reports on the stock. Citigroup cut shares of Broadstone Net Lease from a “market perform” rating to a “market perform” rating in a report on Friday, June 12th. Citizens Jmp lowered Broadstone Net Lease from an “outperform” rating to a “market perform” rating in a report on Friday, June 12th. BTIG Research increased their price target on Broadstone Net Lease from $21.00 to $23.00 and gave the stock a “buy” rating in a research report on Friday, June 26th. KeyCorp raised their price target on Broadstone Net Lease from $20.00 to $24.00 and gave the stock an “overweight” rating in a report on Thursday, July 9th. Finally, Weiss Ratings raised Broadstone Net Lease from a “buy (b-)” rating to a “buy (b)” rating in a report on Monday, May 4th.

Hedge Funds Weigh In On Broadstone Net Lease

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

Broadstone Net Lease Stock Performance

Shares of NYSE:BNL opened at $22.76 on Tuesday. The company’s fifty day moving average is $20.77 and its two-hundred day moving average is $19.63. Broadstone Net Lease has a 1-year low of $15.67 and a 1-year high of $22.81. The stock has a market capitalization of $4.36 billion, a price-to-earnings ratio of 35.02 and a beta of 0.94.

Broadstone Net Lease (NYSE:BNL) last posted its quarterly earnings results on Wednesday, April 29th. The company reported $0.24 EPS for the quarter, beating the consensus estimate of $0.18 by $0.06. Broadstone Net Lease had a net margin of 27.01% and a return on equity of 4.17%. The business had revenue of $121.40 million during the quarter, compared to analyst estimates of $118.84 million. Broadstone Net Lease has set its FY 2026 guidance at 1.530-1.570 EPS. Sell-side analysts expect that Broadstone Net Lease will post 1.52 EPS for the current fiscal year.

Broadstone Net Lease Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th were paid a $0.2925 dividend. This represents a $1.17 dividend on an annualized basis and a yield of 5.1%. The ex-dividend date was Tuesday, June 30th. Broadstone Net Lease’s dividend payout ratio (DPR) is presently 180.00%.

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.