Broadstone Net Lease (NYSE:BNL) Issues FY 2024 Earnings Guidance

Broadstone Net Lease (NYSE:BNL) updated its FY 2024 earnings guidance on Tuesday. The company provided earnings per share (EPS) guidance of 1.410-1.430 for the period, compared to the consensus estimate of 1.480. The company issued revenue guidance of -.

Analysts Set New Price Targets

A number of brokerages have commented on BNL. Wolfe Research restated a peer perform rating on shares of Broadstone Net Lease in a research note on Tuesday, April 9th. KeyCorp began coverage on Broadstone Net Lease in a research note on Wednesday, June 12th. They issued a sector weight rating on the stock. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of Hold and an average target price of $16.75.

Broadstone Net Lease Trading Down 0.8 %

BNL traded down $0.14 on Friday, hitting $17.18. 1,300,535 shares of the stock traded hands, compared to its average volume of 1,219,531. Broadstone Net Lease has a 52 week low of $13.68 and a 52 week high of $18.10. The firm has a market capitalization of $3.24 billion, a PE ratio of 18.04 and a beta of 1.11. The business has a fifty day moving average price of $16.10 and a two-hundred day moving average price of $15.60.

Broadstone Net Lease (NYSE:BNL) last issued its quarterly earnings results on Tuesday, July 30th. The company reported $0.19 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.34 by ($0.15). Broadstone Net Lease had a net margin of 36.78% and a return on equity of 4.85%. The firm had revenue of $105.91 million for the quarter, compared to the consensus estimate of $105.95 million. During the same quarter in the prior year, the firm earned $0.35 earnings per share. On average, equities research analysts forecast that Broadstone Net Lease will post 1.39 EPS for the current fiscal year.

Broadstone Net Lease Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Monday, September 30th will be paid a dividend of $0.29 per share. The ex-dividend date is Monday, September 30th. This represents a $1.16 annualized dividend and a yield of 6.75%. Broadstone Net Lease’s dividend payout ratio is 120.83%.

Broadstone Net Lease Company Profile

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.