Analysts Set Broadstone Net Lease, Inc. (NYSE:BNL) PT at $22.78

Broadstone Net Lease, Inc. (NYSE:BNL) has been assigned a consensus recommendation of “Moderate Buy” from the eleven research firms that are covering the company, MarketBeat.com reports. Four research analysts have rated the stock with a hold recommendation and seven have issued a buy recommendation on the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $22.7778.

BNL has been the topic of a number of analyst reports. The Goldman Sachs Group lifted their price objective on shares of Broadstone Net Lease from $23.00 to $26.00 and gave the stock a “buy” rating in a report on Saturday, August 1st. KeyCorp increased their target price on shares of Broadstone Net Lease from $20.00 to $24.00 and gave the company an “overweight” rating in a report on Thursday, July 9th. Weiss Ratings restated a “buy (b)” rating on shares of Broadstone Net Lease in a report on Friday, July 31st. Citizens Jmp cut Broadstone Net Lease from an “outperform” rating to a “market perform” rating in a research report on Friday, June 12th. Finally, Cantor Fitzgerald boosted their target price on shares of Broadstone Net Lease from $22.00 to $24.00 and gave the company an “overweight” rating in a research note on Friday, July 31st.

Insider Buying and Selling at Broadstone Net Lease

In other news, Director Richard Imperiale purchased 5,000 shares of the business’s stock in a transaction dated Thursday, August 20th. The stock was bought at an average price of $21.22 per share, for a total transaction of $106,100.00. Following the purchase, the director owned 26,250 shares of the company’s stock, valued at $557,025. The trade was a 23.53% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.02% of the company’s stock.

Institutional Investors Weigh In On Broadstone Net Lease

Institutional investors have recently added to or reduced their stakes in the business. BlackRock Inc. purchased a new stake in shares of Broadstone Net Lease during the 2nd quarter valued at approximately $712,332,000. California State Teachers Retirement System raised its position in shares of Broadstone Net Lease by 1,911.3% in the second quarter. California State Teachers Retirement System now owns 4,759,288 shares of the company’s stock worth $98,374,000 after buying an additional 4,522,661 shares in the last quarter. Invesco Ltd. raised its holdings in shares of Broadstone Net Lease by 391.1% in the 4th quarter. Invesco Ltd. now owns 4,565,429 shares of the company’s stock valued at $79,302,000 after acquiring an additional 3,635,809 shares in the last quarter. Balyasny Asset Management L.P. raised its stake in Broadstone Net Lease by 213.2% in the second quarter. Balyasny Asset Management L.P. now owns 4,335,166 shares of the company’s stock valued at $69,579,000 after purchasing an additional 2,951,207 shares in the last quarter. Finally, Norges Bank bought a new stake in shares of Broadstone Net Lease during the 4th quarter worth $41,471,000. 89.07% of the stock is owned by hedge funds and other institutional investors.

Broadstone Net Lease Stock Up 0.8%

Shares of Broadstone Net Lease stock opened at $20.98 on Wednesday. The company has a market cap of $4.02 billion, a PE ratio of 27.60 and a beta of 0.91. Broadstone Net Lease has a 52 week low of $17.16 and a 52 week high of $23.10. The business has a 50 day moving average price of $21.47 and a 200-day moving average price of $20.40.

Broadstone Net Lease (NYSE:BNL) last announced its earnings results on Wednesday, July 29th. The company reported $0.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.19 by $0.02. Broadstone Net Lease had a return on equity of 4.83% and a net margin of 30.61%.The company had revenue of $122.31 million for the quarter, compared to analysts’ expectations of $121.63 million. Broadstone Net Lease has set its FY 2026 guidance at 1.550-1.570 EPS. As a group, research analysts anticipate that Broadstone Net Lease will post 1.53 EPS for the current year.

Broadstone Net Lease Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 15th. Investors of record on Wednesday, September 30th will be paid a $0.2925 dividend. The ex-dividend date is Wednesday, September 30th. This represents a $1.17 annualized dividend and a yield of 5.6%. Broadstone Net Lease’s dividend payout ratio is presently 153.95%.

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.