Broadstone Net Lease (NYSE:BNL) Cut to “Sell” at Wall Street Zen

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

A number of other equities research analysts also recently issued reports on the company. JMP Securities restated a “market outperform” rating and set a $21.00 price objective on shares of Broadstone Net Lease in a research report on Monday, September 29th. BMO Capital Markets reissued an “outperform” rating on shares of Broadstone Net Lease in a research report on Thursday, December 4th. Cantor Fitzgerald restated an “overweight” rating on shares of Broadstone Net Lease in a research report on Thursday, December 4th. BTIG Research dropped their price objective on shares of 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 increased their target price on shares of Broadstone Net Lease from $18.00 to $20.00 and gave the company a “hold” rating in a research note on Tuesday, November 25th. Nine research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $19.91.

Broadstone Net Lease Stock Up 1.1%

BNL stock opened at $17.66 on Friday. Broadstone Net Lease has a 52 week low of $13.96 and a 52 week high of $18.87. The company has a fifty day simple moving average of $17.76 and a two-hundred day simple moving average of $17.53. The firm has a market capitalization of $3.34 billion, a P/E ratio of 37.56 and a beta of 1.01.

Broadstone Net Lease (NYSE:BNL) last posted its earnings results on Wednesday, October 29th. The company reported $0.14 earnings per share for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.23). The business had revenue of $114.17 million during the quarter, compared to the consensus estimate of $111.89 million. Broadstone Net Lease had a return on equity of 2.93% and a net margin of 20.04%.Broadstone Net Lease has set its FY 2025 guidance at 1.490-1.500 EPS. As a group, analysts anticipate that Broadstone Net Lease will post 1.43 EPS for the current year.

Broadstone Net Lease Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 15th. Stockholders of record on Wednesday, December 31st will be paid a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a dividend yield of 6.6%. The ex-dividend date of this dividend is Wednesday, December 31st. Broadstone Net Lease’s payout ratio is currently 246.81%.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Strategic Advocates LLC bought a new position in Broadstone Net Lease in the third quarter worth approximately $30,000. Blue Trust Inc. lifted its holdings in shares of Broadstone Net Lease by 96.9% in the 3rd quarter. Blue Trust Inc. now owns 1,790 shares of the company’s stock worth $32,000 after buying an additional 881 shares during the period. Wolff Wiese Magana LLC bought a new position in shares of Broadstone Net Lease during the 2nd quarter worth $45,000. Advisory Services Network LLC bought a new position in shares of Broadstone Net Lease during the 3rd quarter worth $61,000. Finally, EverSource Wealth Advisors LLC increased its stake in shares of Broadstone Net Lease by 80.9% during the second quarter. EverSource Wealth Advisors LLC now owns 4,261 shares of the company’s stock valued at $68,000 after buying an additional 1,906 shares during the period. Hedge funds and other institutional investors own 89.07% of the company’s stock.

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.