In yesterday’s Wall Street session, Broadstone Net Lease Inc. (NYSE:BNL) shares traded at $16.30, down -1.33% from the previous session.
6 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 $22.00 and a low of $19.00, we find $19.00. Given the previous closing price of $16.52, this indicates a potential upside of 15.01 percent. BNL stock price is now 1.92% away from the 50-day moving average and -2.38% away from the 200-day moving average. The market capitalization of the company currently stands at $3.12B.
The stock has received a hold rating from 4 analysts and a buy rating from 2. Brokers who have rated the stock have averaged $19.80 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).
In other news, Albano Ryan M, President & COO bought 6,200 shares of the company’s stock on Mar 17. The stock was bought for $103,800 at an average price of $16.74. Upon completion of the transaction, the President & COO now directly owns 157,297 shares in the company, valued at $2.56 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Mar 17, Chief Executive Officer Moragne John David bought 5,982 shares of the business’s stock. A total of $100,019 was incurred on buying the stock at an average price of $16.72. This leaves the insider owning 152,256 shares of the company worth $2.48 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 UBS ASSET MANAGEMENT AMERICAS INC during the first quarter worth $17,895,000. POINT72 ASSET MANAGEMENT, L.P. invested $5,127,000 in shares of BNL during the first quarter. In the first quarter, HILL WINDS CAPITAL LP acquired a new stake in Broadstone Net Lease Inc. valued at approximately $4,320,000. STRS OHIO acquired a new stake in BNL for approximately $4,297,000. EXCHANGE TRADED CONCEPTS, LLC purchased a new stake in BNL valued at around $3,628,000 in the second quarter. In total, there are 338 active investors with 81.80% ownership of the company’s stock.
On Monday morning Broadstone Net Lease Inc. (NYSE: BNL) stock kicked off with the opening price of $16.59. During the past 12 months, Broadstone Net Lease Inc. has had a low of $14.98 and a high of $22.60. The fifty day moving average price for BNL is $16.00 and a two-hundred day moving average price translates $16.70 for the stock.
The latest earnings results from Broadstone Net Lease Inc. (NYSE: BNL) was released for Mar, 2023. According to the REIT – Diversified Company, earnings per share came in at $0.21, beating analysts’ expectations of $0.15 by 0.06. This compares to $0.16 EPS in the same period last year. The net profit margin was 31.00% and return on equity was 4.50% for BNL. The company reported revenue of $118.99 million for the quarter, compared to $93.84 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 26.8 percent. For the current quarter, analysts expect BNL to generate $112.43M in revenue.
Moreover, the firm recently paid out its quarterly dividend on 07/14/2023. Investors who held shares on 06/30/2023 were paid a $0.28 dividend. On an annualized basis, this represents a $1.12 dividend and a 6.87% percent yield. There was an ex-dividend date of 06/29/2023 for this dividend. In terms of dividend payout ratio, BNL is presently at 152.00%.
Broadstone Net Lease Inc.(BNL) Company Profile
BNL is a real estate investment trust 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 March 31, 2023, BNL’s diversified portfolio consisted of 801 individual net leased commercial properties with 794 properties located in 44 U.S. states and seven properties located in four Canadian provinces across the industrial, healthcare, restaurant, retail, and office property types.
