Brokerages Set Broadstone Net Lease, Inc. (NYSE:BNL) Price Target at $18.00

Shares of Broadstone Net Lease, Inc. (NYSE:BNL) have been assigned an average recommendation of “Hold” from the six brokerages that are covering the stock, MarketBeat reports. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $18.00.

Several analysts recently commented on the company. The Goldman Sachs Group raised their target price on Broadstone Net Lease from $14.50 to $16.00 and gave the stock a “sell” rating in a report on Friday, September 13th. Wedbush started coverage on Broadstone Net Lease in a report on Monday, August 19th. They set an “outperform” rating and a $20.00 target price on the stock. Truist Financial raised their price objective on Broadstone Net Lease from $16.00 to $18.00 and gave the company a “hold” rating in a report on Friday, August 16th. Finally, KeyCorp started coverage on Broadstone Net Lease in a report on Wednesday, June 12th. They issued a “sector weight” rating on the stock.

Broadstone Net Lease Stock Up 0.6 %

Broadstone Net Lease stock opened at $18.84 on Monday. The firm has a market cap of $3.55 billion, a price-to-earnings ratio of 19.63 and a beta of 1.11. Broadstone Net Lease has a 52 week low of $13.68 and a 52 week high of $19.10. The business’s 50-day moving average price is $18.02 and its 200 day moving average price is $16.27.

Broadstone Net Lease (NYSE:BNL) last posted its earnings results on Tuesday, July 30th. The company reported $0.19 EPS for the quarter, missing the consensus estimate of $0.34 by ($0.15). The company had revenue of $105.91 million for the quarter, compared to analyst estimates of $105.95 million. Broadstone Net Lease had a return on equity of 4.86% and a net margin of 36.78%. During the same period last year, the business earned $0.35 earnings per share. Equities analysts expect that Broadstone Net Lease will post 1.39 EPS for the current year.

Broadstone Net Lease Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th will be issued a $0.29 dividend. This represents a $1.16 annualized dividend and a yield of 6.16%. The ex-dividend date is Monday, September 30th. Broadstone Net Lease’s payout ratio is currently 120.83%.

Institutional Trading of Broadstone Net Lease

Institutional investors have recently made changes to their positions in the company. GSI Capital Advisors LLC boosted its stake in shares of Broadstone Net Lease by 39.6% in the fourth quarter. GSI Capital Advisors LLC now owns 241,085 shares of the company’s stock worth $4,151,000 after acquiring an additional 68,370 shares during the last quarter. Evermay Wealth Management LLC boosted its stake in shares of Broadstone Net Lease by 27.9% in the fourth quarter. Evermay Wealth Management LLC now owns 42,999 shares of the company’s stock worth $744,000 after acquiring an additional 9,385 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. boosted its stake in shares of Broadstone Net Lease by 431.9% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,176,195 shares of the company’s stock worth $18,431,000 after acquiring an additional 955,066 shares during the last quarter. Prevail Innovative Wealth Advisors LLC acquired a new stake in shares of Broadstone Net Lease in the first quarter worth approximately $1,716,000. Finally, Cohen & Steers Inc. boosted its stake in shares of Broadstone Net Lease by 22.4% in the fourth quarter. Cohen & Steers Inc. now owns 3,752,300 shares of the company’s stock worth $64,615,000 after acquiring an additional 686,765 shares during the last quarter. 89.07% of the stock is owned by institutional investors and hedge funds.

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.