Broadstone Net Lease (NYSE:BNL) Sets New 52-Week High - Here's What Happened

Key Points

• Broadstone Net Lease shares hit a new 52-week high, trading as high as $23.10 after closing at $22.80, suggesting strong recent momentum in the stock.
• Recent analyst activity has been mostly positive: BTIG raised its price target to $23 and kept a buy rating, while the stock now carries a consensus rating of Moderate Buy with an average target of $21.70.
• The company reported solid quarterly results, beating earnings and revenue estimates, and it also paid a quarterly dividend of $0.2925, which annualizes to a 5.1% yield.

Shares of Broadstone Net Lease, Inc. (NYSE:BNL - Get Free Report) reached a new 52-week high during trading on Monday . The company traded as high as $23.10 and last traded at $22.7740, with a volume of 1837698 shares. The stock had previously closed at $22.80.

Analyst Ratings Changes

BNL has been the subject of a number of research reports. BTIG Research boosted their target price on Broadstone Net Lease from $21.00 to $23.00 and gave the stock a "buy" rating in a report on Friday, June 26th. Citigroup cut shares of Broadstone Net Lease from a "market perform" rating to a "market perform" rating in a research report on Friday, June 12th. Truist Financial set a $22.00 price objective on shares of Broadstone Net Lease in a research note on Monday, June 8th. Weiss Ratings raised shares of Broadstone Net Lease from a "buy (b-)" rating to a "buy (b)" rating in a research report on Monday, May 4th. Finally, Cantor Fitzgerald raised their target price on shares of Broadstone Net Lease from $21.00 to $22.00 and gave the company an "overweight" rating in a research note on Monday, May 4th. Eight research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $21.70.

Broadstone Net Lease Stock Performance

The firm has a fifty day moving average of $20.83 and a 200 day moving average of $19.66. The firm has a market capitalization of $4.39 billion, a PE ratio of 35.25 and a beta of 0.94.

Broadstone Net Lease (NYSE:BNL - Get Free Report) last released its quarterly earnings results on Wednesday, April 29th. The company reported $0.24 earnings per share for the quarter, topping analysts' consensus estimates of $0.18 by $0.06. Broadstone Net Lease had a return on equity of 4.17% and a net margin of 27.01%.The firm had revenue of $121.40 million during the quarter, compared to analysts' expectations of $118.84 million. Broadstone Net Lease has set its FY 2026 guidance at 1.530-1.570 EPS. Research analysts forecast that Broadstone Net Lease, Inc. will post 1.52 earnings per share for the current fiscal year.

Broadstone Net Lease Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th were paid a $0.2925 dividend. The ex-dividend date was Tuesday, June 30th. This represents a $1.17 annualized dividend and a dividend yield of 5.1%. Broadstone Net Lease's dividend payout ratio is 180.00%.

Institutional Investors Weigh In On Broadstone Net Lease

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. CIBC Private Wealth Group LLC boosted its position in Broadstone Net Lease by 42.9% in the 4th quarter. CIBC Private Wealth Group LLC now owns 2,000 shares of the company's stock valued at $35,000 after buying an additional 600 shares during the last quarter. Advisory Services Network LLC bought a new stake in shares of Broadstone Net Lease in the third quarter worth $61,000. EverSource Wealth Advisors LLC raised its holdings in Broadstone Net Lease by 80.9% in the second quarter. EverSource Wealth Advisors LLC now owns 4,261 shares of the company's stock valued at $68,000 after acquiring an additional 1,906 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its holdings in Broadstone Net Lease by 33.4% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,527 shares of the company's stock valued at $96,000 after acquiring an additional 1,385 shares in the last quarter. Finally, KBC Group NV boosted its stake in Broadstone Net Lease by 38.1% during the 1st quarter. KBC Group NV now owns 7,352 shares of the company's stock valued at $134,000 after acquiring an additional 2,028 shares during the last quarter. Hedge funds and other institutional investors own 89.07% of the company's stock.

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.

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