Broadstone Net Lease (NYSE:BNL) Sets New 52-Week High – Here’s What Happened

Broadstone Net Lease, Inc. (NYSE:BNL)’s share price hit a new 52-week high during mid-day trading on Monday . The company traded as high as $23.10 and last traded at $22.7740, with a volume of 1837698 shares changing hands. The stock had previously closed at $22.80.

Wall Street Analyst Weigh In

A number of research firms recently commented on BNL. KeyCorp lifted their price target on Broadstone Net Lease from $20.00 to $24.00 and gave the stock an “overweight” rating in a research note on Thursday, July 9th. Cantor Fitzgerald upped their price objective on Broadstone Net Lease from $21.00 to $22.00 and gave the company an “overweight” rating in a research note on Monday, May 4th. Truist Financial set a $22.00 price objective on Broadstone Net Lease in a research note on Monday, June 8th. BMO Capital Markets lifted their price objective on shares of Broadstone Net Lease from $24.00 to $26.00 and gave the stock an “outperform” rating in a report on Friday, July 10th. Finally, BTIG Research boosted their target price on shares of Broadstone Net Lease from $21.00 to $23.00 and gave the company a “buy” rating in a research note on Friday, June 26th. Eight research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $21.70.

Broadstone Net Lease Trading Up 0.5%

The business has a 50-day moving average price of $20.83 and a two-hundred day moving average price of $19.66. The firm has a market capitalization of $4.39 billion, a price-to-earnings ratio of 35.25 and a beta of 0.94.

Broadstone Net Lease (NYSE:BNL) last released its quarterly earnings data on Wednesday, April 29th. The company reported $0.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.18 by $0.06. The business had revenue of $121.40 million during the quarter, compared to analyst estimates of $118.84 million. Broadstone Net Lease had a return on equity of 4.17% and a net margin of 27.01%.Broadstone Net Lease has set its FY 2026 guidance at 1.530-1.570 EPS. On average, equities research analysts predict that Broadstone Net Lease, Inc. will post 1.52 earnings per share for the current fiscal year.

Broadstone Net Lease Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th were given a dividend of $0.2925 per share. The ex-dividend date was Tuesday, June 30th. This represents a $1.17 annualized dividend and a dividend yield of 5.1%. Broadstone Net Lease’s dividend payout ratio is currently 180.00%.

Institutional Trading of Broadstone Net Lease

A number of large investors have recently modified their holdings of BNL. Allied Private Wealth LLC acquired a new position in Broadstone Net Lease during the 2nd quarter valued at about $218,000. Post Resch Tallon Group Inc. raised its holdings in shares of Broadstone Net Lease by 1.4% during the second quarter. Post Resch Tallon Group Inc. now owns 253,362 shares of the company’s stock valued at $5,237,000 after buying an additional 3,394 shares during the last quarter. Canandaigua National Bank & Trust Co. bought a new stake in shares of Broadstone Net Lease during the second quarter valued at approximately $1,077,000. Bank of America Corp DE boosted its position in shares of Broadstone Net Lease by 8.7% during the first quarter. Bank of America Corp DE now owns 2,231,816 shares of the company’s stock worth $40,775,000 after buying an additional 178,546 shares during the period. Finally, Anson Funds Management LP boosted its position in shares of Broadstone Net Lease by 50.0% during the first quarter. Anson Funds Management LP now owns 120,000 shares of the company’s stock worth $2,192,000 after buying an additional 40,000 shares during the period. Institutional investors and hedge funds 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.