Broadstone Net Lease (NYSE:BNL) Posts Quarterly Earnings Results, Misses Expectations By $0.02 EPS

Broadstone Net Lease (NYSE:BNL) issued its quarterly earnings data on Wednesday. The company reported $0.14 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.16 by ($0.02), FiscalAI reports. The company had revenue of $121.87 million during the quarter, compared to analysts’ expectations of $122.19 million. Broadstone Net Lease had a net margin of 30.61% and a return on equity of 4.83%.

Broadstone Net Lease Stock Down 2.2%

Shares of NYSE:BNL traded down $0.38 on Wednesday, reaching $16.80. 3,917,841 shares of the company’s stock were exchanged, compared to its average volume of 2,210,097. The business’s 50-day moving average is $19.38 and its two-hundred day moving average is $19.87. Broadstone Net Lease has a fifty-two week low of $16.72 and a fifty-two week high of $23.10. The firm has a market capitalization of $3.22 billion, a price-to-earnings ratio of 22.11 and a beta of 0.91.

Insider Activity at Broadstone Net Lease

In related news, Director Richard Imperiale bought 5,000 shares of the company’s stock in a transaction on Thursday, August 20th. The shares were purchased at an average cost of $21.22 per share, with a total value of $106,100.00. Following the completion of the transaction, the director directly owned 26,250 shares of the company’s stock, valued at approximately $557,025. This represents a 23.53% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 1.02% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have issued reports on BNL shares. KeyCorp reissued an “overweight” rating on shares of Broadstone Net Lease in a research report on Tuesday, September 15th. Truist Financial raised Broadstone Net Lease from a “hold” rating to a “buy” rating and reduced their price objective for the company from $22.00 to $21.00 in a research note on Thursday, October 1st. Weiss Ratings lowered Broadstone Net Lease from a “buy (b)” rating to a “buy (b-)” rating in a research note on Thursday, October 8th. The Goldman Sachs Group boosted their target price on Broadstone Net Lease from $23.00 to $26.00 and gave the stock a “buy” rating in a report on Saturday, August 1st. Finally, BMO Capital Markets increased their target price on shares of Broadstone Net Lease from $24.00 to $26.00 and gave the stock an “outperform” rating in a research report on Friday, July 10th. Eight equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, Broadstone Net Lease currently has a consensus rating of “Moderate Buy” and a consensus target price of $22.67.

Broadstone Net Lease Company Profile

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.