In yesterday’s Wall Street session, Broadstone Net Lease Inc. (NYSE:BNL) shares traded at $16.46, down -1.79% from the previous session.
7 analysts cover Broadstone Net Lease Inc. (NYSE:BNL), according to research data. The consensus rating among analysts is ‘Overweight’. As we calculate the median target price by taking the range between a high of $23.00 and a low of $19.00, we find $21.50. Given the previous closing price of $16.76, this indicates a potential upside of 28.28 percent. BNL stock price is now -2.75% away from the 50-day moving average and -15.60% away from the 200-day moving average. The market capitalization of the company currently stands at $2.85B.
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The stock has received a hold rating from 4 analysts and a buy rating from 2. Brokers who have rated the stock have averaged $21.25 as their price target over the next twelve months.
With the price target enhanced from $25 to $27, Truist Downgraded its rating from Buy to Hold for Broadstone Net Lease Inc. (NYSE: BNL). On June 17, 2021, Goldman Downgraded its previous ‘Buy’ rating to ‘Neutral’ on the stock keeping its target price maintained at $26, while ‘JP Morgan’ rates the stock as ‘Neutral’.
In other news, Lessard Laurier J Jr, SVP – Asset Management sold 2,500 shares of the company’s stock on Mar 10. The stock was sold for $53,000 at an average price of $21.20. Upon completion of the transaction, the SVP – Asset Management now directly owns 54,262 shares in the company, valued at $0.89 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Mar 01, SVP – Acquisitions Pickney Roderick sold 4,000 shares of the business’s stock. A total of $86,000 was realized by selling the stock at an average price of $21.50. This leaves the insider owning 52,176 shares of the company worth $0.86 million. A total of 0.20% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in BNL stock. A new stake in Broadstone Net Lease Inc. shares was purchased by RANGER GLOBAL REAL ESTATE ADVISORS, LLC during the first quarter worth $31,127,000. WEISS MULTI-STRATEGY ADVISERS LLC invested $19,108,000 in shares of BNL during the first quarter. In the first quarter, TWO SIGMA INVESTMENTS, LP acquired a new stake in Broadstone Net Lease Inc. valued at approximately $6,001,000. CAPTRUST FINANCIAL ADVISORS acquired a new stake in BNL for approximately $3,872,000. TWO SIGMA ADVISERS, LP purchased a new stake in BNL valued at around $2,815,000 in the second quarter. In total, there are 319 active investors with 81.80% ownership of the company’s stock.
On Wednesday morning Broadstone Net Lease Inc. (NYSE: BNL) stock kicked off with the opening price of $16.88. During the past 12 months, Broadstone Net Lease Inc. has had a low of $14.98 and a high of $25.07. The fifty day moving average price for BNL is $16.92 and a two-hundred day moving average price translates $19.50 for the stock.
The latest earnings results from Broadstone Net Lease Inc. (NYSE: BNL) was released for Jun, 2022. According to the REIT – Diversified Company, earnings per share came in at $0.2, beating analysts’ expectations of $0.16 by 0.04. This compares to $0.18 EPS in the same period last year. The net profit margin was 30.20% and return on equity was 4.30% for BNL. The company reported revenue of $103.52 million for the quarter, compared to $122.78 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue fell -15.68 percent. For the current quarter, analysts expect BNL to generate $101.15M in revenue.
Moreover, the firm recently paid out its quarterly dividend on 10/14/2022. Investors who held shares on 09/30/2022 were paid a $0.27 dividend. On an annualized basis, this represents a $1.08 dividend and a 6.56% percent yield. There was an ex-dividend date of 09/29/2022 for this dividend. In terms of dividend payout ratio, BNL is presently at 152.20%.
Broadstone Net Lease Inc.(BNL) Company Profile
BNL is an internally-managed 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. The Company utilizes an investment strategy underpinned by strong fundamental credit analysis and prudent real estate underwriting. As of September 30, 2020, BNL’s diversified portfolio consisted of 627 properties in 41 U.S. states and one property in Canada across the industrial, healthcare, restaurant, office, and retail property types, with an aggregate gross asset value of approximately $4.0 billion.
