Broadstone Net Lease (NYSE:BNL) Sets New 52-Week High - Time to Buy?

Key Points

• Broadstone Net Lease shares hit a new 52-week high, trading as high as $22.05, reflecting continued investor momentum in the stock.
• Several analysts recently raised price targets, with KeyCorp and BMO Capital Markets both assigning bullish ratings; the consensus view remains Moderate Buy with an average target price of $21.70.
• The REIT posted better-than-expected quarterly results, beat EPS and revenue estimates, and also announced a quarterly dividend of $0.2925 per share, implying a 5.3% annual yield.

Shares of Broadstone Net Lease, Inc. (NYSE:BNL - Get Free Report) hit a new 52-week high on Monday . The stock traded as high as $22.05 and last traded at $22.0910, with a volume of 50198 shares. The stock had previously closed at $21.83.

Analysts Set New Price Targets

Several equities analysts have recently commented on the stock. KeyCorp increased 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 report on Thursday. BMO Capital Markets boosted their price target on Broadstone Net Lease from $24.00 to $26.00 and gave the company an "outperform" rating in a report on Friday. Truist Financial set a $22.00 price target on Broadstone Net Lease in a research report on Monday, June 8th. Cantor Fitzgerald boosted 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. Finally, Citigroup downgraded shares of Broadstone Net Lease from a "market perform" rating to a "market perform" rating in a research report on Friday, June 12th. Eight investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $21.70.

Broadstone Net Lease Stock Performance

The stock has a market capitalization of $4.21 billion, a price-to-earnings ratio of 33.88 and a beta of 0.94. The business's 50 day simple moving average is $20.59 and its 200-day simple moving average is $19.50.

Broadstone Net Lease (NYSE:BNL - Get Free Report) last announced its quarterly earnings results on Wednesday, April 29th. The company reported $0.24 EPS for the quarter, beating the consensus estimate of $0.18 by $0.06. The company had revenue of $121.40 million for the quarter, compared to analyst estimates of $118.84 million. Broadstone Net Lease had a net margin of 27.01% and a return on equity of 4.17%. Broadstone Net Lease has set its FY 2026 guidance at 1.530-1.570 EPS. As a group, sell-side analysts expect that Broadstone Net Lease, Inc. will post 1.52 EPS for the current year.

Broadstone Net Lease Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th will be given a $0.2925 dividend. This represents a $1.17 annualized dividend and a yield of 5.3%. The ex-dividend date is Tuesday, June 30th. Broadstone Net Lease's dividend payout ratio (DPR) is currently 180.00%.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. CIBC Private Wealth Group LLC increased its holdings in shares of Broadstone Net Lease by 42.9% during the fourth quarter. CIBC Private Wealth Group LLC now owns 2,000 shares of the company's stock valued at $35,000 after purchasing an additional 600 shares during the period. American Century Companies Inc. grew its position in Broadstone Net Lease by 0.9% in the 2nd quarter. American Century Companies Inc. now owns 77,865 shares of the company's stock valued at $1,250,000 after buying an additional 664 shares in the last quarter. Lazard Asset Management LLC grew its position in Broadstone Net Lease by 0.9% in the 2nd quarter. Lazard Asset Management LLC now owns 89,265 shares of the company's stock valued at $1,432,000 after buying an additional 768 shares in the last quarter. Rockefeller Capital Management L.P. increased its stake in Broadstone Net Lease by 5.1% during the 4th quarter. Rockefeller Capital Management L.P. now owns 19,294 shares of the company's stock valued at $335,000 after buying an additional 944 shares during the period. Finally, FJ Capital Management LLC raised its position in shares of Broadstone Net Lease by 8.2% during the 2nd quarter. FJ Capital Management LLC now owns 12,754 shares of the company's stock worth $205,000 after buying an additional 965 shares in the last quarter. Institutional investors and hedge funds 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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