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

Shares of Broadstone Net Lease, Inc. (NYSE:BNL) have been assigned an average rating of “Moderate Buy” from the eleven ratings firms that are covering the firm, MarketBeat Ratings reports. Three investment analysts have rated the stock with a hold recommendation, seven have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $20.1111.

Several equities analysts have commented on BNL shares. The Goldman Sachs Group raised shares of Broadstone Net Lease from a “sell” rating to a “buy” rating and set a $21.00 target price on the stock in a research report on Thursday, August 21st. Cantor Fitzgerald initiated coverage on Broadstone Net Lease in a research report on Wednesday, October 1st. They set an “overweight” rating and a $21.00 price target for the company. Truist Financial boosted their price objective on Broadstone Net Lease from $18.00 to $20.00 and gave the stock a “hold” rating in a research report on Tuesday, November 25th. BTIG Research reaffirmed a “buy” rating and set a $22.00 target price on shares of Broadstone Net Lease in a research report on Wednesday, October 1st. Finally, Wall Street Zen upgraded Broadstone Net Lease from a “sell” rating to a “hold” rating in a research note on Sunday.

Institutional Trading of Broadstone Net Lease

Institutional investors have recently modified their holdings of the business. Strategic Advocates LLC bought a new position in shares of Broadstone Net Lease in the third quarter worth $30,000. CIBC Bancorp USA Inc. purchased a new stake in Broadstone Net Lease during the 3rd quarter worth about $362,000. Advisory Services Network LLC purchased a new stake in Broadstone Net Lease during the 3rd quarter worth about $61,000. CANADA LIFE ASSURANCE Co boosted its stake in Broadstone Net Lease by 4.5% in the 3rd quarter. CANADA LIFE ASSURANCE Co now owns 312,228 shares of the company’s stock worth $5,573,000 after purchasing an additional 13,552 shares during the period. Finally, Dark Forest Capital Management LP grew its holdings in Broadstone Net Lease by 206.3% during the 3rd quarter. Dark Forest Capital Management LP now owns 396,124 shares of the company’s stock valued at $7,079,000 after buying an additional 266,801 shares in the last quarter. 89.07% of the stock is currently owned by hedge funds and other institutional investors.

Broadstone Net Lease Trading Up 0.1%

Shares of NYSE:BNL opened at $17.57 on Monday. The stock has a market cap of $3.32 billion, a PE ratio of 37.38 and a beta of 1.00. The stock’s fifty day simple moving average is $18.23 and its two-hundred day simple moving average is $17.25. Broadstone Net Lease has a 1-year low of $13.96 and a 1-year high of $18.87.

Broadstone Net Lease (NYSE:BNL) last announced its earnings results on Wednesday, October 29th. The company reported $0.14 EPS for the quarter, missing the consensus estimate of $0.37 by ($0.23). Broadstone Net Lease had a net margin of 20.04% and a return on equity of 2.91%. The firm had revenue of $114.17 million during the quarter, compared to analysts’ expectations of $111.89 million. Broadstone Net Lease has set its FY 2025 guidance at 1.490-1.500 EPS. On average, sell-side analysts forecast 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 announced a quarterly dividend, which will be paid on Thursday, January 15th. Shareholders of record on Wednesday, December 31st will be paid a $0.29 dividend. The ex-dividend date is Wednesday, December 31st. This represents a $1.16 annualized dividend and a dividend yield of 6.6%. Broadstone Net Lease’s payout ratio is presently 246.81%.

Broadstone Net Lease Company Profile

Broadstone Net Lease, Inc (the Corporation) is a Maryland corporation formed on October 18, 2007, that elected to be taxed as a real estate investment trust (REIT) commencing with the taxable year ended December 31, 2008. Broadstone Net Lease, LLC (the Corporation’s operating company, or the OP), is the entity through which the Corporation conducts its business and owns (either directly or through subsidiaries) all of the Corporation’s properties.