Broadstone Net Lease (NYSE:BNL – Get Free Report) posted its quarterly earnings results on Tuesday. The company reported $0.19 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.15), Yahoo Finance reports. Broadstone Net Lease had a net margin of 36.78% and a return on equity of 4.85%. The company had revenue of $105.91 million during the quarter, compared to analysts’ expectations of $105.95 million. During the same quarter last year, the company earned $0.35 earnings per share. Broadstone Net Lease updated its FY 2024 guidance to 1.410-1.430 EPS.
Broadstone Net Lease Price Performance
Shares of NYSE:BNL traded down $0.07 during mid-day trading on Thursday, reaching $17.34. 395,897 shares of the company were exchanged, compared to its average volume of 1,211,296. Broadstone Net Lease has a 1 year low of $13.68 and a 1 year high of $18.10. The firm’s 50-day simple moving average is $16.02 and its 200 day simple moving average is $15.57. The firm has a market cap of $3.27 billion, a price-to-earnings ratio of 18.14 and a beta of 1.11.
Broadstone Net Lease Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th will be paid a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a dividend yield of 6.69%. The ex-dividend date is Monday, September 30th. Broadstone Net Lease’s dividend payout ratio (DPR) is 120.83%.
Analysts Set New Price Targets
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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.
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