Broadstone Net Lease (NYSE:BNL) Reaches New 52-Week High at $17.84

Broadstone Net Lease, Inc. (NYSE:BNL)’s stock price hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $17.84 and last traded at $17.72, with a volume of 40313 shares traded. The stock had previously closed at $17.68.

Analyst Ratings Changes

Several equities analysts have recently weighed in on BNL shares. Wolfe Research reaffirmed a “peer perform” rating on shares of Broadstone Net Lease in a research note on Tuesday, April 9th. KeyCorp assumed coverage on Broadstone Net Lease in a report on Wednesday, June 12th. They set a “sector weight” rating for the company. One analyst has rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, Broadstone Net Lease has a consensus rating of “Hold” and an average target price of $16.75.

Broadstone Net Lease Trading Up 0.2 %

The firm has a 50-day moving average of $15.80 and a 200 day moving average of $15.55. The stock has a market capitalization of $3.34 billion, a price-to-earnings ratio of 18.43 and a beta of 1.11.

Broadstone Net Lease (NYSE:BNL) last released its quarterly earnings results on Wednesday, May 1st. The company reported $0.35 EPS for the quarter, topping the consensus estimate of $0.34 by $0.01. Broadstone Net Lease had a return on equity of 5.60% and a net margin of 42.23%. The firm had revenue of $105.37 million for the quarter, compared to analyst estimates of $107.76 million. During the same period in the previous year, the company posted $0.34 EPS. As a group, research analysts forecast that Broadstone Net Lease, Inc. will post 1.39 EPS for the current year.

Broadstone Net Lease Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, July 15th. Shareholders of record on Friday, June 28th were given a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a dividend yield of 6.55%. This is a positive change from Broadstone Net Lease’s previous quarterly dividend of $0.29. The ex-dividend date of this dividend was Friday, June 28th. Broadstone Net Lease’s dividend payout ratio is presently 120.83%.

Hedge Funds Weigh In On Broadstone Net Lease

Institutional investors have recently made changes to their positions in the business. Principal Securities Inc. acquired a new stake in shares of Broadstone Net Lease during the 4th quarter valued at approximately $32,000. Federated Hermes Inc. bought a new position in Broadstone Net Lease during the 4th quarter worth $49,000. Tennessee Valley Asset Management Partners bought a new position in Broadstone Net Lease during the 4th quarter worth $86,000. Arden Trust Co bought a new position in Broadstone Net Lease during the 2nd quarter worth $180,000. Finally, Quotient Wealth Partners LLC bought a new position in Broadstone Net Lease during the 4th quarter worth $186,000. 89.07% of the stock is owned by institutional investors and hedge funds.

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.