Broadstone Net Lease (NYSE:BNL) Posts Earnings Results, Misses Estimates By $0.02 EPS

Broadstone Net Lease (NYSE:BNL) announced its earnings results on Wednesday. The company reported $0.14 EPS for the quarter, missing the consensus estimate of $0.16 by ($0.02), FiscalAI reports. Broadstone Net Lease had a net margin of 30.61% and a return on equity of 4.83%. The business had revenue of $121.87 million for the quarter, compared to the consensus estimate of $122.19 million.

Broadstone Net Lease Stock Performance

Shares of Broadstone Net Lease stock traded down $0.38 during trading hours on Wednesday, reaching $16.80. The company’s stock had a trading volume of 3,291,019 shares, compared to its average volume of 2,208,436. The company has a market capitalization of $3.22 billion, a P/E ratio of 22.11 and a beta of 0.91. The stock’s fifty day simple moving average is $19.38 and its two-hundred day simple moving average is $19.87. Broadstone Net Lease has a one year low of $16.73 and a one year high of $23.10.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. KeyCorp restated an “overweight” rating on shares of Broadstone Net Lease in a report on Tuesday, September 15th. Weiss Ratings downgraded shares of Broadstone Net Lease from a “buy (b)” rating to a “buy (b-)” rating in a research report on Thursday, October 8th. Cantor Fitzgerald increased their target price on shares of Broadstone Net Lease from $22.00 to $24.00 and gave the stock an “overweight” rating in a research note on Friday, July 31st. Truist Financial raised shares of Broadstone Net Lease from a “hold” rating to a “buy” rating and decreased their price target for the company from $22.00 to $21.00 in a research note on Thursday, October 1st. Finally, The Goldman Sachs Group upped their price objective on shares of Broadstone Net Lease from $23.00 to $26.00 and gave the company a “buy” rating in a report on Saturday, August 1st. Eight research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $22.67.

Insiders Place Their Bets

In related news, Director Richard Imperiale purchased 5,000 shares of the business’s stock in a transaction on Thursday, August 20th. The stock was acquired at an average price of $21.22 per share, for a total transaction of $106,100.00. Following the purchase, the director owned 26,250 shares of the company’s stock, valued at approximately $557,025. This trade represents a 23.53% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 1.02% of the company’s stock.

About Broadstone Net Lease

Broadstone Net Lease, Inc (NYSE: BNL) is a real estate investment trust (REIT) that owns and manages a diversified portfolio of primarily single-tenant commercial properties. The company generally leases its properties under long-term, triple-net agreements, under which tenants are typically responsible for property taxes, insurance and maintenance expenses.

Broadstone’s portfolio includes properties used by healthcare providers, industrial and manufacturing companies, office-based businesses, restaurants and retail operators.