Broadstone Net Lease (NYSE:BNL) Shares Gap Up – What’s Next?

Broadstone Net Lease, Inc. (NYSE:BNL)’s share price gapped up before the market opened on Tuesday . The stock had previously closed at $18.51, but opened at $19.07. Broadstone Net Lease shares last traded at $18.8750, with a volume of 1,032,794 shares changing hands.

Analysts Set New Price Targets

Several research firms have weighed in on BNL. UBS Group increased their price target on shares of Broadstone Net Lease from $19.00 to $20.00 and gave the stock a “neutral” rating in a research report on Monday, March 9th. Morgan Stanley lifted their price objective on shares of Broadstone Net Lease from $18.00 to $19.00 and gave the stock a “positive” rating in a research note on Monday, December 29th. Cantor Fitzgerald raised their target price on shares of Broadstone Net Lease from $20.00 to $21.00 and gave the stock an “overweight” rating in a report on Tuesday, February 24th. Wall Street Zen upgraded shares of Broadstone Net Lease from a “sell” rating to a “hold” rating in a report on Saturday, January 17th. Finally, Weiss Ratings lowered shares of Broadstone Net Lease from a “buy (b-)” rating to a “hold (c+)” rating in a report on Friday, March 20th. Eight equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $20.22.

Broadstone Net Lease Stock Performance

The firm’s 50 day moving average is $19.00 and its 200-day moving average is $18.38. The stock has a market capitalization of $3.65 billion, a price-to-earnings ratio of 38.03 and a beta of 0.99.

Broadstone Net Lease (NYSE:BNL) last posted its quarterly earnings data on Wednesday, February 18th. The company reported $0.17 earnings per share for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.20). Broadstone Net Lease had a return on equity of 3.17% and a net margin of 21.25%.The company had revenue of $118.30 million for the quarter, compared to analyst estimates of $116.35 million. Broadstone Net Lease has set its FY 2026 guidance at 1.530-1.57 EPS. As a group, sell-side analysts forecast that Broadstone Net Lease, Inc. will post 1.43 earnings per share for the current year.

Broadstone Net Lease Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 15th. Stockholders of record on Tuesday, March 31st will be given a dividend of $0.2925 per share. This is a boost from Broadstone Net Lease’s previous quarterly dividend of $0.29. This represents a $1.17 annualized dividend and a dividend yield of 6.1%. The ex-dividend date of this dividend is Tuesday, March 31st. Broadstone Net Lease’s dividend payout ratio is currently 234.00%.

Hedge Funds Weigh In On Broadstone Net Lease

A number of hedge funds have recently modified their holdings of BNL. Royal Bank of Canada grew its position in shares of Broadstone Net Lease by 69.9% during the first 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 last quarter. AQR Capital Management LLC lifted its holdings in shares of Broadstone Net Lease by 52.8% during the first quarter. AQR Capital Management LLC now owns 25,599 shares of the company’s stock worth $436,000 after purchasing an additional 8,848 shares during the period. Millennium Management LLC lifted its holdings in shares of Broadstone Net Lease by 2.3% during the first quarter. Millennium Management LLC now owns 1,147,372 shares of the company’s stock worth $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 lifted its holdings in shares of Broadstone Net Lease by 5.8% during the first 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 period. Finally, Jane Street Group LLC lifted its holdings in shares of Broadstone Net Lease by 292.3% during the first 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 period. 89.07% of the stock is currently owned by hedge funds and other institutional investors.

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.