Broadstone Net Lease, Inc. (NYSE:BNL) Sees Large Decrease in Short Interest

Key Points

• Short interest fell 22.3% to 3,837,833 shares as of Dec. 31, leaving a short-interest ratio of about 2.1 days and roughly 2.0% of shares shorted.
• Shares traded around $18.71 with a market cap of $3.54 billion and a P/E of 39.8, while analysts have a consensus “Moderate Buy” rating and a $19.91 target.
• The company pays a $0.29 quarterly dividend (about a 6.2% yield) but has a very high dividend payout ratio of 246.81% and recently missed quarterly EPS estimates ($0.14 vs. $0.37), raising sustainability concerns.

Broadstone Net Lease, Inc. (NYSE:BNL - Get Free Report) was the recipient of a large decline in short interest in the month of December. As of December 31st, there was short interest totaling 3,837,833 shares, a decline of 22.3% from the December 15th total of 4,940,757 shares. Based on an average daily volume of 1,815,260 shares, the short-interest ratio is presently 2.1 days. Currently, 2.0% of the company's shares are short sold. Currently, 2.0% of the company's shares are short sold. Based on an average daily volume of 1,815,260 shares, the short-interest ratio is presently 2.1 days.

Broadstone Net Lease Stock Performance

Broadstone Net Lease stock traded up $0.17 during mid-day trading on Friday, reaching $18.71. 1,400,091 shares of the company were exchanged, compared to its average volume of 1,737,519. The firm has a market cap of $3.54 billion, a P/E ratio of 39.80 and a beta of 1.01. The business has a fifty day moving average of $17.79 and a 200 day moving average of $17.64. Broadstone Net Lease has a 12-month low of $13.96 and a 12-month high of $18.87.

Broadstone Net Lease (NYSE:BNL - Get Free Report) last released its quarterly 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 return on equity of 2.93% and a net margin of 20.04%.The company had revenue of $114.17 million during the quarter, compared to the consensus estimate of $111.89 million. Broadstone Net Lease has set its FY 2025 guidance at 1.490-1.500 EPS. Sell-side analysts predict that Broadstone Net Lease will post 1.43 EPS for the current year.

Broadstone Net Lease Announces Dividend

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

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the company. Strategic Advocates LLC acquired a new stake in Broadstone Net Lease in the third quarter valued at approximately $30,000. Blue Trust Inc. boosted its position in shares of Broadstone Net Lease by 96.9% in the 3rd quarter. Blue Trust Inc. now owns 1,790 shares of the company's stock worth $32,000 after purchasing an additional 881 shares in the last quarter. Wolff Wiese Magana LLC purchased a new position in Broadstone Net Lease during the 2nd quarter worth $45,000. Advisory Services Network LLC purchased a new position in Broadstone Net Lease during the 3rd quarter worth $61,000. Finally, EverSource Wealth Advisors LLC increased its position in Broadstone Net Lease by 80.9% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 4,261 shares of the company's stock valued at $68,000 after buying an additional 1,906 shares in the last quarter. Institutional investors own 89.07% of the company's stock.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the company. Citizens Jmp restated a "market outperform" rating and set a $21.00 price objective on shares of Broadstone Net Lease in a report on Tuesday, December 2nd. Morgan Stanley boosted their target price on shares of Broadstone Net Lease from $18.00 to $19.00 and gave the company a "positive" rating in a research note on Monday, December 29th. JMP Securities reaffirmed a "market outperform" rating and issued a $21.00 price target on shares of Broadstone Net Lease in a research note on Monday, September 29th. Cantor Fitzgerald set a $20.00 price objective on shares of Broadstone Net Lease in a report on Monday, January 5th. Finally, Weiss Ratings restated a "hold (c+)" rating on shares of Broadstone Net Lease in a research note on Wednesday, October 8th. Nine investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, Broadstone Net Lease currently has an average rating of "Moderate Buy" and a consensus target price of $19.91.

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.

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