Broadstone Net Lease (NYSE:BNL) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Broadstone Net Lease (NYSE:BNL) from a sell rating to a hold rating in a research note published on Saturday morning.

A number of other research firms have also commented on BNL. Cantor Fitzgerald set a $20.00 price objective on shares of Broadstone Net Lease in a research note on Monday, January 5th. Weiss Ratings restated a “hold (c+)” rating on shares of Broadstone Net Lease in a report on Wednesday, October 8th. Truist Financial upped their price target on shares of Broadstone Net Lease from $18.00 to $20.00 and gave the stock a “hold” rating in a research note on Tuesday, November 25th. BTIG Research reduced their price objective on Broadstone Net Lease from $22.00 to $21.00 and set a “buy” rating for the company in a research report on Friday, December 5th. Finally, Morgan Stanley boosted their target price on Broadstone Net Lease from $18.00 to $19.00 and gave the company a “positive” rating in a research note on Monday, December 29th. Nine equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $19.91.

Broadstone Net Lease Stock Up 0.9%

Shares of Broadstone Net Lease stock opened at $18.71 on Friday. The business has a fifty day simple moving average of $17.80 and a 200-day simple moving average of $17.67. Broadstone Net Lease has a fifty-two week low of $13.96 and a fifty-two week high of $18.87. The firm has a market cap of $3.54 billion, a price-to-earnings ratio of 39.80 and a beta of 1.01.

Broadstone Net Lease (NYSE:BNL) last issued its quarterly earnings results on Wednesday, October 29th. The company reported $0.14 earnings per share for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.23). The business had revenue of $114.17 million during the quarter, compared to analyst estimates of $111.89 million. Broadstone Net Lease had a net margin of 20.04% and a return on equity of 2.93%. Broadstone Net Lease has set its FY 2025 guidance at 1.490-1.500 EPS. Analysts anticipate that Broadstone Net Lease will post 1.43 earnings per share for the current fiscal year.

Broadstone Net Lease Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, January 15th. Shareholders of record on Wednesday, December 31st were paid a $0.29 dividend. The ex-dividend date of this dividend was Wednesday, December 31st. This represents a $1.16 annualized dividend and a dividend yield of 6.2%. Broadstone Net Lease’s dividend payout ratio (DPR) is currently 246.81%.

Hedge Funds Weigh In On Broadstone Net Lease

A number of large investors have recently bought and sold shares of the company. Strategic Advocates LLC bought a new stake in shares of Broadstone Net Lease in the 3rd quarter valued at about $30,000. Blue Trust Inc. raised its stake in Broadstone Net Lease by 96.9% in the third quarter. Blue Trust Inc. now owns 1,790 shares of the company’s stock valued at $32,000 after buying an additional 881 shares during the period. Wolff Wiese Magana LLC bought a new stake in Broadstone Net Lease in the second quarter valued at approximately $45,000. Advisory Services Network LLC acquired a new stake in shares of Broadstone Net Lease in the third quarter valued at approximately $61,000. Finally, EverSource Wealth Advisors LLC boosted its stake in shares of Broadstone Net Lease by 80.9% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 4,261 shares of the company’s stock worth $68,000 after acquiring an additional 1,906 shares during the period. Institutional investors and hedge funds own 89.07% of the company’s stock.

Broadstone Net Lease Company Profile

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.