Broadstone Net Lease, Inc. Plans Quarterly Dividend of $0.29 (NYSE:BNL)

Broadstone Net Lease, Inc. (NYSE:BNL) declared a quarterly dividend on Wednesday, April 29th. Investors of record on Tuesday, June 30th will be given a dividend of 0.2925 per share on Wednesday, July 15th. This represents a c) dividend on an annualized basis and a yield of 5.9%. The ex-dividend date is Tuesday, June 30th.

Broadstone Net Lease has raised its dividend by an average of 0.2%annually over the last three years and has increased its dividend annually for the last 4 consecutive years. Broadstone Net Lease has a dividend payout ratio of 151.9% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research analysts expect Broadstone Net Lease to earn $1.58 per share next year, which means the company should continue to be able to cover its $1.17 annual dividend with an expected future payout ratio of 74.1%.

Broadstone Net Lease Trading Down 0.5%

NYSE:BNL traded down $0.10 on Thursday, reaching $19.83. 834,048 shares of the stock traded hands, compared to its average volume of 2,377,493. Broadstone Net Lease has a 1-year low of $15.28 and a 1-year high of $20.48. The company’s 50 day moving average is $19.29 and its 200-day moving average is $18.58. The firm has a market capitalization of $3.80 billion, a price-to-earnings ratio of 39.67 and a beta of 0.99.

Broadstone Net Lease (NYSE:BNL) last issued its quarterly earnings data on Wednesday, February 18th. The company reported $0.17 earnings per share for the quarter, missing the consensus estimate of $0.37 by ($0.20). Broadstone Net Lease had a net margin of 21.25% and a return on equity of 3.17%. The company had revenue of $118.30 million for the quarter, compared to the consensus estimate of $116.35 million. Broadstone Net Lease has set its FY 2026 guidance at 1.530-1.57 EPS. On average, equities research analysts forecast that Broadstone Net Lease will post 1.51 EPS for the current fiscal year.

Analyst Ratings Changes

BNL has been the subject of a number of research analyst reports. UBS Group raised their price target on Broadstone Net Lease from $19.00 to $20.00 and gave the stock a “neutral” rating in a research note on Monday, March 9th. Weiss Ratings raised Broadstone Net Lease from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, April 6th. Wall Street Zen raised Broadstone Net Lease from a “sell” rating to a “hold” rating in a research report on Saturday, January 17th. Finally, Cantor Fitzgerald lifted their target price on Broadstone Net Lease from $20.00 to $21.00 and gave the company an “overweight” rating in a research report on Tuesday, February 24th. Nine equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $20.22.

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.