Broadstone Net Lease, Inc. (NYSE:BNL) Sees Large Decrease in Short Interest

Broadstone Net Lease, Inc. (NYSE:BNL) was the recipient of a significant decrease in short interest in December. As of December 31st, there was short interest totaling 3,837,833 shares, a decrease of 22.3% from the December 15th total of 4,940,757 shares. Based on an average trading volume of 1,815,260 shares, the days-to-cover ratio is presently 2.1 days. Approximately 2.0% of the company’s stock are short sold. Approximately 2.0% of the company’s stock are short sold. Based on an average trading volume of 1,815,260 shares, the days-to-cover ratio is presently 2.1 days.

Hedge Funds Weigh In On Broadstone Net Lease

Large investors have recently made changes to their positions in the company. Strategic Advocates LLC purchased a new stake in Broadstone Net Lease during the third quarter worth $30,000. Blue Trust Inc. raised its position in shares of Broadstone Net Lease by 96.9% in the third quarter. Blue Trust Inc. now owns 1,790 shares of the company’s stock worth $32,000 after acquiring an additional 881 shares during the period. Wolff Wiese Magana LLC purchased a new stake in shares of Broadstone Net Lease during the 2nd quarter worth about $45,000. Advisory Services Network LLC acquired a new stake in shares of Broadstone Net Lease during the 3rd quarter valued at about $61,000. Finally, EverSource Wealth Advisors LLC increased its stake in shares of Broadstone Net Lease by 80.9% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 4,261 shares of the company’s stock valued at $68,000 after purchasing an additional 1,906 shares in the last quarter. 89.07% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on BNL. BTIG Research lowered their target price on shares of Broadstone Net Lease from $22.00 to $21.00 and set a “buy” rating for the company in a research note on Friday, December 5th. Citizens Jmp reissued a “market outperform” rating and set a $21.00 price objective on shares of Broadstone Net Lease in a report on Tuesday, December 2nd. BMO Capital Markets reissued an “outperform” rating on shares of Broadstone Net Lease in a research report on Thursday, December 4th. 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 research note on Tuesday, November 25th. Finally, Wall Street Zen upgraded Broadstone Net Lease from a “sell” rating to a “hold” rating in a research note on Saturday. Nine research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $19.91.

Broadstone Net Lease Price Performance

NYSE:BNL traded up $0.17 during mid-day trading on Friday, hitting $18.71. The company’s stock had a trading volume of 1,400,091 shares, compared to its average volume of 1,737,519. The business’s fifty day moving average is $17.79 and its two-hundred day moving average is $17.64. The stock has a market cap of $3.54 billion, a price-to-earnings ratio of 39.80 and a beta of 1.01. Broadstone Net Lease has a 1 year low of $13.96 and a 1 year high of $18.87.

Broadstone Net Lease (NYSE:BNL) last issued its quarterly earnings data on Wednesday, October 29th. The company reported $0.14 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.37 by ($0.23). The company had revenue of $114.17 million during the quarter, compared to analyst estimates of $111.89 million. Broadstone Net Lease had a net margin of 20.04% and a return on equity of 2.93%. Broadstone Net Lease has set its FY 2025 guidance at 1.490-1.500 EPS. Analysts anticipate that Broadstone Net Lease will post 1.43 EPS for the current fiscal year.

Broadstone Net Lease Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, January 15th. Stockholders of record on Wednesday, December 31st were paid a dividend of $0.29 per share. The ex-dividend date of this dividend was Wednesday, December 31st. This represents a $1.16 dividend on an annualized basis and a dividend yield of 6.2%. Broadstone Net Lease’s dividend payout ratio (DPR) is presently 246.81%.

Broadstone Net Lease Company Profile

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.