Brokerages Set Broadstone Net Lease, Inc. (NYSE:BNL) PT at $22.78

Shares of Broadstone Net Lease, Inc. (NYSE:BNL) have received an average recommendation of “Moderate Buy” from the eleven ratings firms that are covering the firm, Marketbeat reports. Four research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $22.7778.

BNL has been the subject of several analyst reports. The Goldman Sachs Group upped their price objective on Broadstone Net Lease from $23.00 to $26.00 and gave the stock a “buy” rating in a research report on Saturday, August 1st. BMO Capital Markets raised their target price on Broadstone Net Lease from $24.00 to $26.00 and gave the stock an “outperform” rating in a research report on Friday, July 10th. Cantor Fitzgerald boosted their target price on Broadstone Net Lease from $22.00 to $24.00 and gave the stock an “overweight” rating in a research note on Friday, July 31st. Truist Financial set a $22.00 price target on Broadstone Net Lease in a report on Monday, June 8th. Finally, KeyCorp increased their price target on shares of Broadstone Net Lease from $20.00 to $24.00 and gave the company an “overweight” rating in a research note on Thursday, July 9th.

Hedge Funds Weigh In On Broadstone Net Lease

Several institutional investors have recently bought and sold shares of the company. Allworth Financial LP acquired a new stake in shares of Broadstone Net Lease in the 2nd quarter worth $34,000. CIBC Private Wealth Group LLC increased its stake 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 acquiring an additional 600 shares during the period. Advisory Services Network LLC purchased a new position in Broadstone Net Lease during the third quarter worth about $61,000. Global Retirement Partners LLC purchased a new position in Broadstone Net Lease during the second quarter worth about $74,000. Finally, EverSource Wealth Advisors LLC lifted its position in Broadstone Net Lease by 80.9% in the second 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 during the period. 89.07% of the stock is owned by institutional investors and hedge funds.

Broadstone Net Lease Trading Up 0.7%

Broadstone Net Lease stock opened at $21.38 on Friday. The stock has a market cap of $4.10 billion, a P/E ratio of 28.13 and a beta of 0.92. The company has a fifty day simple moving average of $21.41 and a 200-day simple moving average of $20.15. Broadstone Net Lease has a 12-month low of $16.60 and a 12-month high of $23.10.

Broadstone Net Lease (NYSE:BNL) last issued its earnings results on Wednesday, July 29th. The company reported $0.21 EPS for the quarter, topping analysts’ consensus estimates of $0.19 by $0.02. Broadstone Net Lease had a net margin of 30.61% and a return on equity of 4.83%. The firm had revenue of $122.31 million during the quarter, compared to the consensus estimate of $121.63 million. Broadstone Net Lease has set its FY 2026 guidance at 1.550-1.570 EPS. As a group, sell-side analysts forecast that Broadstone Net Lease will post 1.52 earnings per share for the current fiscal year.

Broadstone Net Lease Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 15th. Investors of record on Wednesday, September 30th will be issued a dividend of $0.2925 per share. The ex-dividend date of this dividend is Wednesday, September 30th. This represents a $1.17 annualized dividend and a dividend yield of 5.5%. Broadstone Net Lease’s dividend payout ratio (DPR) is currently 153.95%.

About Broadstone Net Lease

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.