Broadstone Net Lease, Inc. (NYSE:BNL) Receives $16.75 Average Target Price from Analysts

Shares of Broadstone Net Lease, Inc. (NYSE:BNL) have earned a consensus rating of “Hold” from the six ratings firms that are covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, four have issued a hold recommendation and one has given a buy recommendation to the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $16.75.

Separately, KeyCorp began coverage on shares of Broadstone Net Lease in a research report on Wednesday, June 12th. They issued a “sector weight” rating for the company.

Hedge Funds Weigh In On Broadstone Net Lease

A number of large investors have recently added to or reduced their stakes in BNL. Asset Management One Co. Ltd. increased its holdings in Broadstone Net Lease by 10.7% during the 4th quarter. Asset Management One Co. Ltd. now owns 520,862 shares of the company’s stock worth $9,094,000 after purchasing an additional 50,543 shares in the last quarter. Prime Capital Investment Advisors LLC bought a new position in Broadstone Net Lease during the 4th quarter worth about $10,074,000. Mirae Asset Global Investments Co. Ltd. increased its holdings in Broadstone Net Lease by 1.5% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 608,567 shares of the company’s stock worth $10,480,000 after purchasing an additional 8,926 shares in the last quarter. E&G Advisors LP bought a new position in Broadstone Net Lease during the 4th quarter worth about $643,000. Finally, Allspring Global Investments Holdings LLC boosted its stake in shares of Broadstone Net Lease by 250.5% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 26,281 shares of the company’s stock worth $453,000 after buying an additional 18,782 shares during the last quarter. Institutional investors own 89.07% of the company’s stock.

Broadstone Net Lease Stock Up 0.5 %

BNL stock opened at $17.24 on Friday. The business’s fifty day moving average is $16.35 and its 200-day moving average is $15.61. The company has a market cap of $3.25 billion, a P/E ratio of 17.96 and a beta of 1.11. Broadstone Net Lease has a twelve month low of $13.68 and a twelve month high of $18.10.

Broadstone Net Lease (NYSE:BNL) last posted its quarterly earnings results on Tuesday, July 30th. The company reported $0.19 earnings per share for the quarter, missing analysts’ consensus estimates 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 company had revenue of $105.91 million during the quarter, compared to analyst estimates of $105.95 million. During the same period last year, the company earned $0.35 EPS. Research analysts anticipate that Broadstone Net Lease will post 1.39 earnings per share for the current fiscal year.

Broadstone Net Lease Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th will be issued a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a yield of 6.73%. The ex-dividend date of this dividend is Monday, September 30th. Broadstone Net Lease’s dividend payout ratio (DPR) is presently 120.83%.

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.