Broadstone Net Lease (BNL) to Release Quarterly Earnings on Wednesday

Broadstone Net Lease (NYSE:BNL) is scheduled to announce its earnings results after the market closes on Wednesday, May 1st. Analysts expect the company to announce earnings of $0.34 per share for the quarter. Parties interested in listening to the company’s conference call can do so using this link.

Broadstone Net Lease Price Performance

Broadstone Net Lease stock opened at $14.66 on Tuesday. The firm has a 50 day simple moving average of $14.88 and a 200-day simple moving average of $15.57. The stock has a market cap of $2.75 billion, a price-to-earnings ratio of 17.88 and a beta of 1.09. Broadstone Net Lease has a 1-year low of $13.68 and a 1-year high of $17.59.

Broadstone Net Lease Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Friday, March 29th were given a $0.285 dividend. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $1.14 annualized dividend and a yield of 7.78%. Broadstone Net Lease’s payout ratio is 139.03%.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on BNL shares. Wolfe Research restated a “peer perform” rating on shares of Broadstone Net Lease in a research report on Tuesday, April 9th. Truist Financial cut their price objective on Broadstone Net Lease from $18.00 to $17.00 and set a “hold” rating for the company in a research report on Tuesday, February 27th. TheStreet cut shares of Broadstone Net Lease from a “b-” rating to a “c+” rating in a research report on Thursday, February 22nd. Finally, The Goldman Sachs Group started coverage on shares of Broadstone Net Lease in a research report on Thursday, March 7th. They set a “sell” rating and a $14.00 price target for the company. One analyst has rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, Broadstone Net Lease presently has a consensus rating of “Hold” and an average price target of $16.75.

Insider Activity at Broadstone Net Lease

In other Broadstone Net Lease news, Director Michael A. Coke purchased 10,000 shares of the business’s stock in a transaction on Monday, February 26th. The shares were bought at an average cost of $14.67 per share, for a total transaction of $146,700.00. Following the completion of the purchase, the director now directly owns 34,817 shares of the company’s stock, valued at $510,765.39. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, CFO Kevin Fennell acquired 4,000 shares of the business’s stock in a transaction dated Monday, February 26th. The shares were acquired at an average price of $14.63 per share, with a total value of $58,520.00. Following the completion of the transaction, the chief financial officer now owns 63,556 shares of the company’s stock, valued at $929,824.28. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Michael A. Coke bought 10,000 shares of the firm’s stock in a transaction that occurred on Monday, February 26th. The stock was bought at an average price of $14.67 per share, with a total value of $146,700.00. Following the completion of the acquisition, the director now owns 34,817 shares of the company’s stock, valued at approximately $510,765.39. The disclosure for this purchase can be found here. Company insiders own 0.81% of the company’s stock.

About Broadstone Net Lease

BNL is an industrial-focused, diversified net lease REIT that acquires, owns, and manages primarily single-tenant commercial real estate properties that are net leased on a long-term basis to a diversified group of tenants. Utilizing an investment strategy underpinned by strong fundamental credit analysis and prudent real estate underwriting, as of September 30, 2023, BNL's diversified portfolio consisted of 800 individual net leased commercial properties with 793 properties located in 44 U.S.