Broadstone Net Lease (BNL) Scheduled to Post Earnings on Wednesday

Broadstone Net Lease (NYSE:BNL) is set to post its quarterly earnings results after the market closes on Wednesday, May 1st. Analysts expect Broadstone Net Lease to post earnings of $0.34 per share for the quarter. Individual interested in listening to the company’s earnings conference call can do so using this link.

Broadstone Net Lease Stock Performance

NYSE:BNL opened at $14.55 on Wednesday. The stock has a market capitalization of $2.73 billion, a P/E ratio of 17.74 and a beta of 1.09. The company has a 50 day moving average price of $14.98 and a 200 day moving average price of $15.58. Broadstone Net Lease has a fifty-two week low of $13.68 and a fifty-two week high of $17.59.

Broadstone Net Lease Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Friday, March 29th were given a $0.285 dividend. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $1.14 annualized dividend and a yield of 7.84%. Broadstone Net Lease’s dividend payout ratio is presently 139.03%.

Insider Buying and Selling at Broadstone Net Lease

In other Broadstone Net Lease news, Director Michael A. Coke acquired 10,000 shares of the company’s stock in a transaction on Monday, February 26th. The shares were bought at an average cost of $14.67 per share, for a total transaction of $146,700.00. Following the completion of the purchase, the director now owns 34,817 shares in the company, valued at approximately $510,765.39. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, Director Michael A. Coke bought 10,000 shares of the stock in a transaction dated Monday, February 26th. The shares were acquired at an average price of $14.67 per share, with a total value of $146,700.00. Following the completion of the acquisition, the director now directly owns 34,817 shares in the company, valued at $510,765.39. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Kevin Fennell bought 4,000 shares of the stock in a transaction dated Monday, February 26th. The stock was purchased at an average cost of $14.63 per share, for a total transaction of $58,520.00. Following the acquisition, the chief financial officer now owns 63,556 shares of the company’s stock, valued at $929,824.28. The disclosure for this purchase can be found here. 0.81% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several brokerages have commented on BNL. The Goldman Sachs Group assumed coverage on shares of Broadstone Net Lease in a research report on Thursday, March 7th. They issued a “sell” rating and a $14.00 price target for the company. TheStreet lowered shares of Broadstone Net Lease from a “b-” rating to a “c+” rating in a research note on Thursday, February 22nd. Wolfe Research reiterated a “peer perform” rating on shares of Broadstone Net Lease in a research note on Tuesday, April 9th. Finally, Truist Financial cut their price target on shares of Broadstone Net Lease from $18.00 to $17.00 and set a “hold” rating on the stock in a research note on Tuesday, February 27th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, Broadstone Net Lease presently has an average rating of “Hold” and an average price target of $16.75.

About Broadstone Net Lease

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.