Broadstone Net Lease (NYSE:BNL) Hits New 12-Month High Following Dividend Announcement

Broadstone Net Lease, Inc. (NYSE:BNL) shares reached a new 52-week high during trading on Thursday after the company announced a dividend. The company traded as high as $20.82 and last traded at $20.1260, with a volume of 469 shares changing hands. The stock had previously closed at $19.93.

The newly announced dividend which will be paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th will be issued a $0.2925 dividend. This represents a $1.17 dividend on an annualized basis and a dividend yield of 5.8%. The ex-dividend date is Tuesday, June 30th. Broadstone Net Lease’s dividend payout ratio (DPR) is presently 234.00%.

Wall Street Analysts Forecast Growth

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

Broadstone Net Lease Price Performance

The company’s 50 day simple moving average is $19.29 and its 200 day simple moving average is $18.58. The company has a market capitalization of $3.85 billion, a PE ratio of 40.24 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 return on equity of 3.17% and a net margin of 21.25%.The company had revenue of $118.30 million for the quarter, compared to analysts’ expectations of $116.35 million. Broadstone Net Lease has set its FY 2026 guidance at 1.530-1.57 EPS. On average, equities analysts forecast that Broadstone Net Lease, Inc. will post 1.51 EPS for the current year.

Hedge Funds Weigh In On Broadstone Net Lease

Large investors have recently bought and sold shares of the stock. CIBC Private Wealth Group LLC grew its holdings in shares of Broadstone Net Lease by 42.9% during the fourth quarter. CIBC Private Wealth Group LLC now owns 2,000 shares of the company’s stock worth $35,000 after purchasing an additional 600 shares during the last quarter. American Century Companies Inc. lifted its holdings in shares of Broadstone Net Lease by 0.9% in the 2nd quarter. American Century Companies Inc. now owns 77,865 shares of the company’s stock valued at $1,250,000 after purchasing an additional 664 shares during the last quarter. Alps Advisors Inc. boosted its position in shares of Broadstone Net Lease by 4.7% in the 3rd quarter. Alps Advisors Inc. now owns 16,574 shares of the company’s stock valued at $296,000 after purchasing an additional 737 shares during the period. Lazard Asset Management LLC grew its stake in Broadstone Net Lease by 0.9% during the 2nd quarter. Lazard Asset Management LLC now owns 89,265 shares of the company’s stock worth $1,432,000 after buying an additional 768 shares during the last quarter. Finally, Arizona State Retirement System grew its stake in Broadstone Net Lease by 1.4% during the 3rd quarter. Arizona State Retirement System now owns 55,951 shares of the company’s stock worth $1,000,000 after buying an additional 779 shares during the last quarter. Institutional investors and hedge funds own 89.07% of the company’s stock.

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.