Brokerages Set Broadstone Net Lease, Inc. (NYSE:BNL) PT at $21.70

Broadstone Net Lease, Inc. (NYSE:BNL) has been given an average rating of “Moderate Buy” by the twelve brokerages that are currently covering the company, MarketBeat.com reports. Four research analysts have rated the stock with a hold recommendation and eight have issued a buy recommendation on the company. The average 1-year price target among brokerages that have covered the stock in the last year is $21.70.

Several research analysts have issued reports on BNL shares. BMO Capital Markets increased their price objective on Broadstone Net Lease from $24.00 to $26.00 and gave the stock an “outperform” rating in a research report on Friday, July 10th. Truist Financial set a $22.00 target price on shares of Broadstone Net Lease in a research report on Monday, June 8th. KeyCorp upped their price target on shares of Broadstone Net Lease from $20.00 to $24.00 and gave the stock an “overweight” rating in a research note on Thursday, July 9th. BTIG Research increased their price target on shares of Broadstone Net Lease from $21.00 to $23.00 and gave the company a “buy” rating in a report on Friday, June 26th. Finally, Cantor Fitzgerald increased their price target on shares of Broadstone Net Lease from $21.00 to $22.00 and gave the company an “overweight” rating in a report on Monday, May 4th.

Broadstone Net Lease Trading Down 0.4%

Shares of BNL opened at $22.70 on Tuesday. Broadstone Net Lease has a twelve month low of $15.67 and a twelve month high of $23.10. The stock’s 50 day moving average is $20.88 and its two-hundred day moving average is $19.70. The firm has a market capitalization of $4.35 billion, a PE ratio of 34.93 and a beta of 0.94.

Broadstone Net Lease (NYSE:BNL) last issued its earnings results on Wednesday, April 29th. The company reported $0.24 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.18 by $0.06. The business had revenue of $121.40 million during the quarter, compared to the consensus estimate of $118.84 million. Broadstone Net Lease had a return on equity of 4.17% and a net margin of 27.01%.Broadstone Net Lease has set its FY 2026 guidance at 1.530-1.570 EPS. On average, sell-side analysts predict that Broadstone Net Lease will post 1.52 EPS for the current year.

Broadstone Net Lease Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th were given a dividend of $0.2925 per share. This represents a $1.17 annualized dividend and a yield of 5.2%. The ex-dividend date was Tuesday, June 30th. Broadstone Net Lease’s dividend payout ratio is presently 180.00%.

Institutional Investors Weigh In On Broadstone Net Lease

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Invesco Ltd. raised its holdings in Broadstone Net Lease by 391.1% during the fourth quarter. Invesco Ltd. now owns 4,565,429 shares of the company’s stock worth $79,302,000 after purchasing an additional 3,635,809 shares during the last quarter. Balyasny Asset Management L.P. raised its stake in shares of Broadstone Net Lease by 213.2% during the 2nd quarter. Balyasny Asset Management L.P. now owns 4,335,166 shares of the company’s stock worth $69,579,000 after buying an additional 2,951,207 shares during the last quarter. Norges Bank purchased a new stake in shares of Broadstone Net Lease in the 4th quarter worth about $41,471,000. Hudson Bay Capital Management LP purchased a new position in Broadstone Net Lease during the 3rd quarter valued at about $37,998,000. Finally, New England Private Wealth Advisors LLC purchased a new position in Broadstone Net Lease during the 4th quarter valued at about $27,426,000. 89.07% of the stock is currently owned by institutional investors and hedge funds.

About Broadstone Net Lease

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.