Broadstone Net Lease (NYSE:BNL) Rating Increased to Hold at Wall Street Zen

Wall Street Zen upgraded shares of Broadstone Net Lease (NYSE:BNL) from a sell rating to a hold rating in a research note issued to investors on Saturday morning.

A number of other equities research analysts also recently weighed in on the stock. Cantor Fitzgerald set a $20.00 price objective on shares of Broadstone Net Lease in a report on Monday, January 5th. BMO Capital Markets reiterated an “outperform” rating on shares of Broadstone Net Lease in a research report on Thursday, December 4th. Weiss Ratings reissued a “hold (c+)” rating on shares of Broadstone Net Lease in a research note on Wednesday, October 8th. BTIG Research decreased their price objective on 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. Finally, Truist Financial upped their price objective on Broadstone Net Lease from $18.00 to $20.00 and gave the company a “hold” rating in a report on Tuesday, November 25th. Nine investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $19.91.

Broadstone Net Lease Stock Up 0.9%

Shares of BNL opened at $18.71 on Friday. The stock’s fifty day simple moving average is $17.79 and its 200-day simple moving average is $17.64. The firm has a market capitalization of $3.54 billion, a PE ratio of 39.80 and a beta of 1.01. Broadstone Net Lease has a 12-month low of $13.96 and a 12-month high of $18.87.

Broadstone Net Lease (NYSE:BNL) last announced its quarterly earnings data on Wednesday, October 29th. The company reported $0.14 earnings per share for the quarter, missing the consensus estimate of $0.37 by ($0.23). Broadstone Net Lease had a return on equity of 2.93% and a net margin of 20.04%.The firm had revenue of $114.17 million for the quarter, compared to the consensus estimate of $111.89 million. 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 year.

Broadstone Net Lease Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, January 15th. Investors of record on Wednesday, December 31st were given a $0.29 dividend. The ex-dividend date 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 is currently 246.81%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Aberdeen Group plc increased its holdings in shares of Broadstone Net Lease by 17.2% in the fourth quarter. Aberdeen Group plc now owns 76,787 shares of the company’s stock worth $1,334,000 after acquiring an additional 11,271 shares in the last quarter. BTC Capital Management Inc. grew its position in shares of Broadstone Net Lease by 3.0% in the 4th quarter. BTC Capital Management Inc. now owns 230,553 shares of the company’s stock valued at $4,001,000 after purchasing an additional 6,672 shares during the period. Allspring Global Investments Holdings LLC increased its stake in Broadstone Net Lease by 9.6% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 39,779 shares of the company’s stock worth $691,000 after purchasing an additional 3,480 shares in the last quarter. Columbus Macro LLC increased its stake in Broadstone Net Lease by 10.0% during the 4th quarter. Columbus Macro LLC now owns 676,361 shares of the company’s stock worth $11,748,000 after purchasing an additional 61,363 shares in the last quarter. Finally, Exchange Traded Concepts LLC raised its holdings in Broadstone Net Lease by 8.4% during the 4th quarter. Exchange Traded Concepts LLC now owns 97,328 shares of the company’s stock worth $1,691,000 after buying an additional 7,543 shares during the period. 89.07% of the stock is currently owned by institutional investors.

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.