Broadstone Net Lease, Inc. (NYSE:BNL) Receives Average Recommendation of "Moderate Buy" from Brokerages

Key Points

• Analyst sentiment is moderately bullish: Seven of 11 brokerages rate Broadstone Net Lease a “buy,” while four recommend holding the stock. The average 12-month price target is $22.78 versus a recent share price of $18.93.
• Quarterly results exceeded expectations: Broadstone reported adjusted earnings of $0.21 per share and revenue of $122.31 million, topping consensus estimates of $0.19 and $121.63 million, respectively.
• The REIT offers a sizable dividend: The company declared a quarterly dividend of $0.2925, or $1.17 annually, implying a yield of about 6.2%. Institutional investors own approximately 89.1% of the shares, and a director recently purchased 5,000 shares.

Shares of Broadstone Net Lease, Inc. (NYSE:BNL - Get Free Report) have earned a consensus recommendation of "Moderate Buy" from the eleven ratings firms that are currently covering the stock, MarketBeat Ratings reports. Four investment analysts have rated the stock with a hold recommendation and seven have assigned a buy recommendation to the company. The average 12-month price target among brokers that have covered the stock in the last year is $22.78.

A number of analysts have recently weighed in on BNL shares. Citizens Jmp cut shares of Broadstone Net Lease from an "outperform" rating to a "market perform" rating in a report on Friday, June 12th. BMO Capital Markets increased their target price on shares of Broadstone Net Lease from $24.00 to $26.00 and gave the company an "outperform" rating in a research report on Friday, July 10th. Cantor Fitzgerald increased their target price on shares of Broadstone Net Lease from $22.00 to $24.00 and gave the company an "overweight" rating in a research report on Friday, July 31st. BTIG Research raised their target price on shares of Broadstone Net Lease from $21.00 to $23.00 and gave the company a "buy" rating in a research note on Friday, June 26th. Finally, KeyCorp reaffirmed an "overweight" rating on shares of Broadstone Net Lease in a report on Tuesday, September 15th.

Broadstone Net Lease Price Performance

Shares of NYSE BNL opened at $18.93 on Friday. The stock has a market capitalization of $3.63 billion, a P/E ratio of 24.91 and a beta of 0.91. Broadstone Net Lease has a 1-year low of $17.16 and a 1-year high of $23.10. The business has a fifty day moving average price of $20.93 and a 200 day moving average price of $20.44.

Broadstone Net Lease (NYSE:BNL - Get Free Report) last issued its quarterly earnings data on Wednesday, July 29th. The company reported $0.21 earnings per share for the quarter, beating analysts' consensus estimates of $0.19 by $0.02. The company had revenue of $122.31 million for the quarter, compared to the consensus estimate of $121.63 million. Broadstone Net Lease had a return on equity of 4.83% and a net margin of 30.61%.Broadstone Net Lease has set its FY 2026 guidance at 1.550-1.570 EPS. As a group, equities research analysts anticipate that Broadstone Net Lease will post 1.51 earnings per share for the current fiscal year.

Broadstone Net Lease Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Wednesday, September 30th will be given a $0.2925 dividend. The ex-dividend date of this dividend is Wednesday, September 30th. This represents a $1.17 dividend on an annualized basis and a dividend yield of 6.2%. Broadstone Net Lease's dividend payout ratio (DPR) is presently 153.95%.

Insider Buying and Selling at Broadstone Net Lease

In other Broadstone Net Lease news, Director Richard Imperiale bought 5,000 shares of the company's stock in a transaction that occurred on Thursday, August 20th. The shares were purchased at an average cost of $21.22 per share, for a total transaction of $106,100.00. Following the purchase, the director directly owned 26,250 shares in the company, valued at $557,025. This represents a 23.53% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 1.02% of the stock is owned by insiders.

Institutional Investors Weigh In On Broadstone Net Lease

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in BNL. BlackRock Inc. purchased a new stake in shares of Broadstone Net Lease during the second quarter worth about $712,332,000. Dimensional Fund Advisors LP raised its position in shares of Broadstone Net Lease by 4.0% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,696,795 shares of the company's stock valued at $49,273,000 after purchasing an additional 103,091 shares during the last quarter. Norges Bank purchased a new position in shares of Broadstone Net Lease in the 4th quarter valued at approximately $41,471,000. Bank of America Corp DE boosted its stake in Broadstone Net Lease by 8.7% in the 1st quarter. Bank of America Corp DE now owns 2,231,816 shares of the company's stock worth $40,775,000 after purchasing an additional 178,546 shares in the last quarter. Finally, Alyeska Investment Group L.P. boosted its stake in Broadstone Net Lease by 7.8% in the 2nd quarter. Alyeska Investment Group L.P. now owns 2,050,198 shares of the company's stock worth $42,378,000 after purchasing an additional 148,533 shares in the last quarter. 89.07% of the stock is currently owned by hedge funds and other institutional investors.

Broadstone Net Lease Company Profile

Broadstone Net Lease, Inc NYSE: BNL is a real estate investment trust (REIT) that owns and manages a diversified portfolio of primarily single-tenant commercial properties. The company leases these properties to businesses under long-term, net lease agreements, in which tenants generally assume responsibility for property taxes, insurance and maintenance.

Broadstone's portfolio is diversified across industries and includes properties used for healthcare, industrial, office, retail, restaurant and other business purposes.

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