Broadstone Net Lease, Inc. (NYSE:BNL) Given Average Recommendation of “Hold” by Brokerages

Shares of Broadstone Net Lease, Inc. (NYSE:BNL) have earned a consensus recommendation of “Hold” from the six ratings firms that are presently covering the firm, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and two have issued a buy recommendation on the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $18.00.

Several equities analysts recently issued reports on BNL shares. Wedbush started coverage on Broadstone Net Lease in a report on Monday, August 19th. They issued an “outperform” rating and a $20.00 price target on the stock. Truist Financial raised their price target on Broadstone Net Lease from $16.00 to $18.00 and gave the company a “hold” rating in a report on Friday, August 16th. The Goldman Sachs Group raised their price target on Broadstone Net Lease from $14.50 to $16.00 and gave the company a “sell” rating in a report on Friday, September 13th. Finally, KeyCorp started coverage on Broadstone Net Lease in a report on Wednesday, June 12th. They issued a “sector weight” rating on the stock.

Broadstone Net Lease Stock Performance

Shares of BNL stock opened at $18.73 on Monday. The stock’s fifty day moving average is $17.86 and its 200-day moving average is $16.15. The stock has a market capitalization of $3.53 billion, a PE ratio of 19.51 and a beta of 1.11. Broadstone Net Lease has a 52 week low of $13.68 and a 52 week high of $19.10.

Broadstone Net Lease (NYSE:BNL) last posted its quarterly earnings results on Tuesday, July 30th. The company reported $0.19 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.34 by ($0.15). The firm had revenue of $105.91 million during the quarter, compared to the consensus estimate of $105.95 million. Broadstone Net Lease had a net margin of 36.78% and a return on equity of 4.86%. During the same quarter in the prior year, the business earned $0.35 EPS. As a group, analysts forecast that Broadstone Net Lease will post 1.39 earnings per share for the current fiscal year.

Broadstone Net Lease Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th will be paid a $0.29 dividend. This represents a $1.16 annualized dividend and a yield of 6.19%. The ex-dividend date is Monday, September 30th. Broadstone Net Lease’s payout ratio is 120.83%.

Hedge Funds Weigh In On Broadstone Net Lease

Several hedge funds have recently added to or reduced their stakes in the stock. Sanctuary Advisors LLC acquired a new position in Broadstone Net Lease in the second quarter valued at about $614,000. Quarry LP raised its position in shares of Broadstone Net Lease by 93.1% during the second quarter. Quarry LP now owns 2,556 shares of the company’s stock worth $41,000 after purchasing an additional 1,232 shares during the period. Systematic Financial Management LP acquired a new stake in shares of Broadstone Net Lease during the second quarter worth about $2,980,000. Algert Global LLC acquired a new stake in shares of Broadstone Net Lease during the second quarter worth about $300,000. Finally, Susquehanna Fundamental Investments LLC acquired a new stake in shares of Broadstone Net Lease during the second quarter worth about $479,000. Institutional investors and hedge funds own 89.07% of the company’s stock.

Broadstone Net Lease Company Profile

BNL is an industrial-focused, diversified net lease REIT that acquires, owns, and manages primarily single-tenant commercial real estate properties that are net leased on a long-term basis to a diversified group of tenants. Utilizing an investment strategy underpinned by strong fundamental credit analysis and prudent real estate underwriting, as of September 30, 2023, BNL's diversified portfolio consisted of 800 individual net leased commercial properties with 793 properties located in 44 U.S.