Broadstone Net Lease (NYSE:BNL) Sets New 52-Week Low - Here's Why

Key Points

• Broadstone Net Lease shares hit a new 52-week low of $17.13, falling 3.1% and trading below both their 50-day and 200-day moving averages.
• Despite the decline, analysts maintain a generally positive outlook: eight rate the stock Buy and three Hold, with a consensus price target of $22.67 versus the recent price near $17.22.
• The REIT reported quarterly EPS of $0.21, ahead of the $0.19 estimate, and pays a $0.2925 quarterly dividend, equating to a 6.8% yield—though its 153.95% payout ratio is notably high.

Broadstone Net Lease, Inc. (NYSE:BNL - Get Free Report) reached a new 52-week low during trading on Wednesday. The company traded as low as $17.13 and last traded at $17.2160, with a volume of 2,739,642 shares traded. The stock had previously closed at $17.76.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on BNL shares. Cantor Fitzgerald raised their price target on shares of Broadstone Net Lease from $22.00 to $24.00 and gave the company an "overweight" rating in a report on Friday, July 31st. BMO Capital Markets boosted their price objective on shares of Broadstone Net Lease from $24.00 to $26.00 and gave the stock an "outperform" rating in a report on Friday, July 10th. The Goldman Sachs Group boosted their price objective on shares of Broadstone Net Lease from $23.00 to $26.00 and gave the stock a "buy" rating in a report on Saturday, August 1st. KeyCorp reissued an "overweight" rating on shares of Broadstone Net Lease in a research report on Tuesday, September 15th. Finally, Truist Financial upgraded Broadstone Net Lease from a "hold" rating to a "buy" rating and lowered their target price for the company from $22.00 to $21.00 in a research note on Thursday, October 1st. Eight equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $22.67.

Broadstone Net Lease Stock Down 3.1%

The stock has a 50 day simple moving average of $19.76 and a 200 day simple moving average of $20.37. The company has a market capitalization of $3.30 billion, a price-to-earnings ratio of 22.65 and a beta of 0.91.

Broadstone Net Lease (NYSE:BNL - Get Free Report) last posted its earnings results on Wednesday, July 29th. The company reported $0.21 EPS for the quarter, topping the consensus estimate of $0.19 by $0.02. The firm had revenue of $122.31 million during the quarter, compared to analysts' expectations of $121.63 million. Broadstone Net Lease had a net margin of 30.61% and a return on equity of 4.83%. Broadstone Net Lease has set its FY 2026 guidance at 1.550-1.570 EPS. As a group, analysts forecast that Broadstone Net Lease, Inc. will post 1.51 EPS for the current year.

Broadstone Net Lease Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, October 15th. Shareholders of record on Wednesday, September 30th were paid a dividend of $0.2925 per share. This represents a $1.17 annualized dividend and a yield of 6.8%. The ex-dividend date of this dividend was Wednesday, September 30th. Broadstone Net Lease's payout ratio is 153.95%.

Insider Buying and Selling

In related news, Director Richard Imperiale acquired 5,000 shares of the company's stock in a transaction on Thursday, August 20th. The shares were purchased at an average price of $21.22 per share, for a total transaction of $106,100.00. Following the purchase, the director 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 Securities & Exchange Commission, which can be accessed through this link. Insiders own 1.02% of the company's stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Allworth Financial LP bought a new position in shares of Broadstone Net Lease in the 2nd quarter valued at about $34,000. Global Retirement Partners LLC bought a new stake in Broadstone Net Lease during the 2nd quarter worth approximately $74,000. Nykredit A S acquired a new stake in shares of Broadstone Net Lease during the second quarter worth $91,000. EverSource Wealth Advisors LLC raised its position in Broadstone Net Lease by 33.8% in the 1st quarter. EverSource Wealth Advisors LLC now owns 7,075 shares of the company's stock valued at $129,000 after buying an additional 1,788 shares during the last quarter. Finally, KBC Group NV boosted its holdings in Broadstone Net Lease by 38.1% during the first quarter. KBC Group NV now owns 7,352 shares of the company's stock worth $134,000 after purchasing an additional 2,028 shares during 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 real estate investment trust (REIT) that owns and manages a diversified portfolio of primarily single-tenant commercial properties. The company generally leases its properties under long-term, triple-net agreements, under which tenants are typically responsible for property taxes, insurance and maintenance expenses.

Broadstone's portfolio includes properties used by healthcare providers, industrial and manufacturing companies, office-based businesses, restaurants and retail operators.

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