Broadstone Net Lease, Inc. (NYSE:BNL) Receives Average Rating of “Moderate Buy” from Brokerages

Broadstone Net Lease, Inc. (NYSE:BNL) has been assigned an average recommendation of “Moderate Buy” from the eleven research firms that are covering the company, Marketbeat Ratings reports. Four equities research analysts have rated the stock with a hold rating and seven have issued a buy rating on the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $22.67.

BNL has been the topic of a number of research reports. Truist Financial set a $21.00 price target on Broadstone Net Lease in a research note on Thursday. KeyCorp reaffirmed an “overweight” rating on shares of Broadstone Net Lease in a research note on Tuesday, September 15th. Citigroup downgraded Broadstone Net Lease from a “market perform” rating to a “market perform” rating in a report on Friday, June 12th. BMO Capital Markets increased their target price on Broadstone Net Lease from $24.00 to $26.00 and gave the stock an “outperform” rating in a research note on Friday, July 10th. Finally, Citizens Jmp lowered shares of Broadstone Net Lease from an “outperform” rating to a “market perform” rating in a research note on Friday, June 12th.

Insiders Place Their Bets

In other Broadstone Net Lease news, Director Richard Imperiale bought 5,000 shares of Broadstone Net Lease stock in a transaction on Thursday, August 20th. The shares were bought at an average cost of $21.22 per share, for a total transaction of $106,100.00. Following the acquisition, the director directly owned 26,250 shares in the company, valued at $557,025. This represents a 23.53% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 1.02% of the stock is currently owned by insiders.

Institutional Trading of Broadstone Net Lease

Large investors have recently modified their holdings of the stock. California State Teachers Retirement System raised its holdings in Broadstone Net Lease by 30.2% during the first quarter. California State Teachers Retirement System now owns 236,627 shares of the company’s stock worth $4,323,000 after purchasing an additional 54,892 shares in the last quarter. Quantinno Capital Management LP boosted its holdings in shares of Broadstone Net Lease by 164.8% in the 1st quarter. Quantinno Capital Management LP now owns 91,618 shares of the company’s stock valued at $1,674,000 after buying an additional 57,021 shares in the last quarter. Walleye Capital LLC acquired a new position in shares of Broadstone Net Lease in the 2nd quarter valued at $1,991,000. Amundi grew its position in shares of Broadstone Net Lease by 1,115.8% in the 2nd quarter. Amundi now owns 1,094,174 shares of the company’s stock valued at $22,617,000 after buying an additional 1,004,177 shares during the last quarter. Finally, Bank of America Corp DE grew its position in shares of Broadstone Net Lease by 8.7% in the 1st quarter. Bank of America Corp DE now owns 2,231,816 shares of the company’s stock valued at $40,775,000 after buying an additional 178,546 shares during the last quarter. Hedge funds and other institutional investors own 89.07% of the company’s stock.

Broadstone Net Lease Price Performance

NYSE BNL opened at $18.26 on Friday. The firm’s 50-day moving average is $20.61 and its two-hundred day moving average is $20.43. Broadstone Net Lease has a 12 month low of $17.16 and a 12 month high of $23.10. The stock has a market capitalization of $3.50 billion, a P/E ratio of 24.02 and a beta of 0.91.

Broadstone Net Lease (NYSE:BNL) last announced its quarterly earnings results on Wednesday, July 29th. The company reported $0.21 earnings per share for the quarter, beating analysts’ consensus estimates of $0.19 by $0.02. The business had revenue of $122.31 million during the quarter, compared to analysts’ expectations of $121.63 million. Broadstone Net Lease had a net margin of 30.61% and a return on equity of 4.83%. Broadstone Net Lease has set its FY 2026 guidance at 1.550-1.570 EPS. As a group, analysts anticipate that Broadstone Net Lease will post 1.51 EPS for the current year.

Broadstone Net Lease Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 15th. Investors of record on Wednesday, September 30th will be issued a $0.2925 dividend. The ex-dividend date is Wednesday, September 30th. This represents a $1.17 dividend on an annualized basis and a dividend yield of 6.4%. Broadstone Net Lease’s payout ratio is 153.95%.

About Broadstone Net Lease

Broadstone Net Lease, Inc is a real estate investment trust (REIT) that owns and manages a diversified portfolio of single-tenant commercial properties. The company primarily invests in properties subject to long-term, triple-net leases, under which tenants generally are responsible for property taxes, insurance and maintenance costs.

Broadstone’s portfolio includes industrial, healthcare, restaurant and other commercial properties leased to tenants across a range of industries. Its business activities include acquiring, owning, leasing and managing income-producing real estate, with an emphasis on properties that can provide stable rental income over extended lease terms.

Founded in 2007, Broadstone Net Lease completed its initial public offering in 2020.