Broadstone Net Lease (NYSE:BNL) Sets New 52-Week Low – Here’s Why

Broadstone Net Lease, Inc. (NYSE:BNL) shares hit a new 52-week low on Wednesday. The stock traded as low as $17.13 and last traded at $17.2160, with a volume of 2,739,642 shares trading hands. The stock had previously closed at $17.76.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. BMO Capital Markets lifted their price objective on Broadstone Net Lease from $24.00 to $26.00 and gave the company an “outperform” rating in a report on Friday, July 10th. Weiss Ratings cut shares of Broadstone Net Lease from a “buy (b)” rating to a “buy (b-)” rating in a research report on Thursday, October 8th. The Goldman Sachs Group increased their price objective on shares of Broadstone Net Lease from $23.00 to $26.00 and gave the stock a “buy” rating in a research report on Saturday, August 1st. Truist Financial raised shares of Broadstone Net Lease from a “hold” rating to a “buy” rating and reduced their price objective for the stock from $22.00 to $21.00 in a research report on Thursday, October 1st. Finally, Cantor Fitzgerald raised their price objective on Broadstone Net Lease from $22.00 to $24.00 and gave the company an “overweight” rating in a research note on Friday, July 31st. Eight research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $22.67.

Broadstone Net Lease Price Performance

The company’s fifty day simple moving average is $19.76 and its 200 day simple moving average is $20.37. The firm has a market capitalization of $3.30 billion, a PE ratio of 22.65 and a beta of 0.91.

Broadstone Net Lease (NYSE:BNL) last announced its quarterly earnings results on Wednesday, July 29th. The company reported $0.21 EPS for the quarter, beating the consensus estimate 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. On average, analysts anticipate that Broadstone Net Lease, Inc. will post 1.51 earnings per share for the current fiscal year.

Broadstone Net Lease Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 15th. Shareholders of record on Wednesday, September 30th were given a dividend of $0.2925 per share. The ex-dividend date of this dividend was Wednesday, September 30th. This represents a $1.17 dividend on an annualized basis and a yield of 6.8%. Broadstone Net Lease’s dividend payout ratio is presently 153.95%.

Insider Buying and Selling at Broadstone Net Lease

In other news, Director Richard Imperiale bought 5,000 shares of Broadstone Net Lease stock in a transaction on Thursday, August 20th. The shares were purchased at an average price of $21.22 per share, for a total transaction of $106,100.00. Following the acquisition, the director owned 26,250 shares of the company’s stock, valued at approximately $557,025. The trade was a 23.53% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 1.02% of the company’s stock.

Hedge Funds Weigh In On Broadstone Net Lease

Hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. purchased a new position in shares of Broadstone Net Lease during the second quarter valued at approximately $712,332,000. Bank of New York Mellon Corp purchased a new position in shares of Broadstone Net Lease during the 2nd quarter valued at about $39,745,000. Wellington Management Group LLP purchased a new position in Broadstone Net Lease during the second quarter valued at approximately $35,709,000. Bank of America Corp DE bought a new position in Broadstone Net Lease in the 2nd quarter worth $32,978,000. Finally, Legal & General Group Plc purchased a new stake in shares of Broadstone Net Lease during the second quarter worth about $24,537,000. 89.07% of the stock is currently owned by hedge funds and other institutional investors.

About Broadstone Net Lease

Broadstone Net Lease, Inc (NYSE: BNL) is a real estate investment trust (REIT) that owns and manages a diversified portfolio of primarily single-tenant commercial properties. The company generally leases its properties under long-term, triple-net agreements, under which tenants are typically responsible for property taxes, insurance and maintenance expenses.

Broadstone’s portfolio includes properties used by healthcare providers, industrial and manufacturing companies, office-based businesses, restaurants and retail operators.