Broadstone Net Lease (NYSE:BNL) Reaches New 12-Month High – What’s Next?

Broadstone Net Lease, Inc. (NYSE:BNL) shares hit a new 52-week high during trading on Tuesday . The stock traded as high as $21.57 and last traded at $21.5960, with a volume of 235598 shares. The stock had previously closed at $21.09.

Analyst Ratings Changes

Several research firms recently issued reports on BNL. UBS Group lifted their price objective on shares of Broadstone Net Lease from $19.00 to $20.00 and gave the company a “neutral” rating in a research note on Monday, March 9th. Citigroup downgraded shares of Broadstone Net Lease from a “market perform” rating to a “market perform” rating in a research report on Friday, June 12th. Cantor Fitzgerald raised their target price on Broadstone Net Lease from $21.00 to $22.00 and gave the company an “overweight” rating in a report on Monday, May 4th. Citizens Jmp cut Broadstone Net Lease from an “outperform” rating to a “market perform” rating in a research report on Friday, June 12th. Finally, Truist Financial set a $22.00 price target on Broadstone Net Lease in a research note on Monday, June 8th. Eight research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $20.78.

Broadstone Net Lease Price Performance

The stock’s 50 day moving average price is $20.46 and its two-hundred day moving average price is $19.38. The firm has a market capitalization of $4.09 billion, a price-to-earnings ratio of 32.84 and a beta of 0.94.

Broadstone Net Lease (NYSE:BNL) last posted its earnings results 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 for the quarter, compared to analyst estimates of $118.84 million. Broadstone Net Lease had a net margin of 27.01% and a return on equity of 4.17%. Broadstone Net Lease has set its FY 2026 guidance at 1.530-1.570 EPS. As a group, equities research analysts anticipate that Broadstone Net Lease, Inc. will post 1.52 EPS for the current fiscal year.

Broadstone Net Lease Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th will be given a $0.2925 dividend. This represents a $1.17 annualized dividend and a dividend yield of 5.5%. The ex-dividend date of this dividend is Tuesday, June 30th. Broadstone Net Lease’s dividend payout ratio (DPR) is currently 180.00%.

Hedge Funds Weigh In On Broadstone Net Lease

A number of institutional investors have recently made changes to their positions in BNL. Miller Global Investments LLC acquired a new stake in shares of Broadstone Net Lease in the fourth quarter valued at $953,000. American Century Companies Inc. lifted its stake in Broadstone Net Lease by 1,640.8% in the third quarter. American Century Companies Inc. now owns 1,355,448 shares of the company’s stock valued at $24,222,000 after buying an additional 1,277,583 shares during the period. Cbre Investment Management Listed Real Assets LLC bought a new position in shares of Broadstone Net Lease in the 3rd quarter valued at about $2,224,000. Pensionfund PDN bought a new position in shares of Broadstone Net Lease in the 4th quarter valued at about $1,563,000. Finally, Hudson Bay Capital Management LP acquired a new stake in shares of Broadstone Net Lease in the third quarter valued at about $37,998,000. 89.07% of the stock is currently owned by institutional investors.

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.