Broadstone Net Lease’s (BNL) “Market Outperform” Rating Reiterated at Citizens Jmp

Citizens Jmp restated their market outperform rating on shares of Broadstone Net Lease (NYSE:BNL) in a research report released on Tuesday,Benzinga reports. Citizens Jmp currently has a $21.00 price target on the stock.

Other equities analysts have also recently issued reports about the company. Truist Financial raised their target price on Broadstone Net Lease from $18.00 to $20.00 and gave the stock a “hold” rating in a report on Tuesday, November 25th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Broadstone Net Lease in a research note on Wednesday, October 8th. Cantor Fitzgerald initiated coverage on Broadstone Net Lease in a research report on Wednesday, October 1st. They set an “overweight” rating and a $21.00 price objective on the stock. KeyCorp upgraded Broadstone Net Lease from a “sector weight” rating to an “overweight” rating and set a $20.00 price objective for the company in a research note on Tuesday, August 19th. Finally, The Goldman Sachs Group upgraded shares of Broadstone Net Lease from a “sell” rating to a “buy” rating and set a $21.00 target price on the stock in a research note on Thursday, August 21st. Eight investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $20.20.

Broadstone Net Lease Trading Up 0.1%

Shares of NYSE BNL opened at $17.55 on Tuesday. Broadstone Net Lease has a 12-month low of $13.96 and a 12-month high of $18.87. The firm has a market capitalization of $3.32 billion, a price-to-earnings ratio of 37.33 and a beta of 1.03. The firm has a 50 day moving average of $18.17 and a 200 day moving average of $17.28.

Broadstone Net Lease (NYSE:BNL) last released its quarterly earnings results on Wednesday, October 29th. The company reported $0.14 earnings per share 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 business 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 firm also recently announced a quarterly dividend, which will be paid on Thursday, January 15th. Investors of record on Wednesday, December 31st will be issued a $0.29 dividend. The ex-dividend date of this dividend is Wednesday, December 31st. This represents a $1.16 dividend on an annualized basis and a dividend yield of 6.6%. Broadstone Net Lease’s dividend payout ratio (DPR) is 246.81%.

Institutional Investors Weigh In On Broadstone Net Lease

Hedge funds have recently bought and sold shares of the business. Strategic Advocates LLC purchased a new position in shares of Broadstone Net Lease in the 3rd quarter worth $30,000. Blue Trust Inc. raised its position in shares of Broadstone Net Lease by 96.9% during the 3rd quarter. Blue Trust Inc. now owns 1,790 shares of the company’s stock valued at $32,000 after buying an additional 881 shares in the last quarter. Wolff Wiese Magana LLC bought a new position in shares of Broadstone Net Lease in the 2nd quarter valued at about $45,000. Advisory Services Network LLC purchased a new position in Broadstone Net Lease in the third quarter worth about $61,000. Finally, EverSource Wealth Advisors LLC increased its stake in Broadstone Net Lease by 80.9% during the second quarter. EverSource Wealth Advisors LLC now owns 4,261 shares of the company’s stock worth $68,000 after acquiring an additional 1,906 shares during the last quarter. Hedge funds and other institutional investors own 89.07% of the company’s stock.

Broadstone Net Lease Company Profile

Broadstone Net Lease, Inc (the Corporation) is a Maryland corporation formed on October 18, 2007, that elected to be taxed as a real estate investment trust (REIT) commencing with the taxable year ended December 31, 2008. Broadstone Net Lease, LLC (the Corporation’s operating company, or the OP), is the entity through which the Corporation conducts its business and owns (either directly or through subsidiaries) all of the Corporation’s properties.