Broadstone Net Lease (NYSE:BNL) Releases Quarterly Earnings Results, Beats Expectations By $0.01 EPS

Broadstone Net Lease (NYSE:BNL) issued its quarterly earnings results on Wednesday. The company reported $0.38 earnings per share for the quarter, beating analysts’ consensus estimates of $0.37 by $0.01, Zacks reports. Broadstone Net Lease had a net margin of 20.04% and a return on equity of 2.93%.

Broadstone Net Lease Price Performance

BNL stock traded down $0.32 during trading hours on Wednesday, reaching $19.53. 1,920,656 shares of the stock were exchanged, compared to its average volume of 1,740,152. The company has a market cap of $3.70 billion, a price-to-earnings ratio of 41.56 and a beta of 1.00. The firm’s 50-day moving average is $18.26 and its 200-day moving average is $18.11. Broadstone Net Lease has a 12 month low of $13.96 and a 12 month high of $19.91.

Analyst Ratings Changes

Several equities research analysts have recently commented on BNL shares. Weiss Ratings reissued a “hold (c+)” rating on shares of Broadstone Net Lease in a research note on Wednesday, January 21st. Cantor Fitzgerald set a $20.00 price target on Broadstone Net Lease in a report on Monday, January 5th. Morgan Stanley boosted their price objective on Broadstone Net Lease from $18.00 to $19.00 and gave the stock a “positive” rating in a report on Monday, December 29th. Citizens Jmp reaffirmed a “market outperform” rating and issued a $21.00 target price on shares of Broadstone Net Lease in a research note on Tuesday, December 2nd. Finally, BMO Capital Markets reissued an “outperform” rating on shares of Broadstone Net Lease in a research note on Thursday, December 4th. Eight equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $19.80.

Hedge Funds Weigh In On Broadstone Net Lease

A number of large investors have recently modified their holdings of the business. CIBC Private Wealth Group LLC grew its stake in shares of Broadstone Net Lease by 42.9% in the fourth quarter. CIBC Private Wealth Group LLC now owns 2,000 shares of the company’s stock valued at $35,000 after buying an additional 600 shares in the last quarter. Advisory Services Network LLC bought a new position in shares of Broadstone Net Lease during the 3rd quarter worth approximately $61,000. EverSource Wealth Advisors LLC increased its holdings in shares of Broadstone Net Lease by 80.9% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 4,261 shares of the company’s stock worth $68,000 after acquiring an additional 1,906 shares during the last quarter. State of Wyoming acquired a new position in shares of Broadstone Net Lease during the 4th quarter worth approximately $134,000. Finally, FJ Capital Management LLC lifted its holdings in Broadstone Net Lease by 8.2% during the 2nd quarter. FJ Capital Management LLC now owns 12,754 shares of the company’s stock valued at $205,000 after purchasing an additional 965 shares during the last quarter. 89.07% of the stock is currently owned by institutional investors and hedge funds.

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.