Broadstone Net Lease (NYSE:BNL) Sets New 1-Year High – What’s Next?

Broadstone Net Lease, Inc. (NYSE:BNL) shares reached a new 52-week high on Monday . The company traded as high as $22.05 and last traded at $22.0910, with a volume of 50198 shares. The stock had previously closed at $21.83.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. BTIG Research lifted their price target on Broadstone Net Lease from $21.00 to $23.00 and gave the company a “buy” rating in a research report on Friday, June 26th. Citizens Jmp lowered Broadstone Net Lease from an “outperform” rating to a “market perform” rating in a report on Friday, June 12th. BMO Capital Markets raised their target price on Broadstone Net Lease from $24.00 to $26.00 and gave the company an “outperform” rating in a research note on Friday. Cantor Fitzgerald lifted their target price on Broadstone Net Lease from $21.00 to $22.00 and gave the stock an “overweight” rating in a report on Monday, May 4th. Finally, Truist Financial set a $22.00 price target on shares of Broadstone Net Lease in a research report on Monday, June 8th. Eight investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, Broadstone Net Lease has a consensus rating of “Moderate Buy” and an average price target of $21.70.

Broadstone Net Lease Price Performance

The stock has a market capitalization of $4.21 billion, a P/E ratio of 33.88 and a beta of 0.94. The stock’s fifty day moving average is $20.59 and its two-hundred day moving average is $19.50.

Broadstone Net Lease (NYSE:BNL) last posted its quarterly earnings results on Wednesday, April 29th. The company reported $0.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.18 by $0.06. The firm had revenue of $121.40 million for the quarter, compared to analyst estimates of $118.84 million. Broadstone Net Lease had a net margin of 27.01% and a return on equity of 4.17%. Broadstone Net Lease has set its FY 2026 guidance at 1.530-1.570 EPS. Analysts expect that Broadstone Net Lease, Inc. will post 1.52 EPS for the current year.

Broadstone Net Lease Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th will be paid a dividend of $0.2925 per share. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $1.17 annualized dividend and a dividend yield of 5.3%. Broadstone Net Lease’s dividend payout ratio (DPR) is currently 180.00%.

Institutional Investors Weigh In On Broadstone Net Lease

A number of institutional investors and hedge funds have recently modified their holdings of BNL. Strategic Advocates LLC purchased a new stake in shares of Broadstone Net Lease during the third quarter valued at $30,000. CIBC Private Wealth Group LLC increased its stake in Broadstone Net Lease by 42.9% in the 4th 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 in the last quarter. Advisory Services Network LLC purchased a new position in Broadstone Net Lease in the 3rd quarter worth about $61,000. EverSource Wealth Advisors LLC raised its holdings in 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 buying an additional 1,906 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. raised its holdings in Broadstone Net Lease by 33.4% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,527 shares of the company’s stock worth $96,000 after buying an additional 1,385 shares during the period. 89.07% of the stock is owned by institutional investors and hedge funds.

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.