Broadstone Net Lease (NYSE:BNL) Reaches New 12-Month High – Still a Buy?

Broadstone Net Lease, Inc. (NYSE:BNL) reached a new 52-week high during mid-day trading on Thursday . The company traded as high as $20.49 and last traded at $20.4250, with a volume of 784801 shares traded. The stock had previously closed at $20.43.

Analyst Upgrades and Downgrades

BNL has been the topic of a number of research analyst reports. UBS Group boosted their target price 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. Weiss Ratings upgraded shares of Broadstone Net Lease from a “buy (b-)” rating to a “buy (b)” rating in a research note on Monday, May 4th. Finally, 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. Nine equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $20.33.

Broadstone Net Lease Trading Down 0.0%

The company has a market capitalization of $3.91 billion, a P/E ratio of 31.39 and a beta of 0.96. The company’s fifty day moving average is $19.57 and its 200 day moving average is $18.74.

Broadstone Net Lease (NYSE:BNL) last issued 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 analysts’ expectations 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. Equities research analysts predict that Broadstone Net Lease, Inc. will post 1.51 EPS for the current year.

Broadstone Net Lease Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th will be paid a dividend of $0.2925 per share. This represents a $1.17 dividend on an annualized basis and a dividend yield of 5.7%. The ex-dividend date is Tuesday, June 30th. Broadstone Net Lease’s payout ratio is presently 180.00%.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the stock. State Street Corp increased its position in shares of Broadstone Net Lease by 2.2% during the second quarter. State Street Corp now owns 8,388,518 shares of the company’s stock valued at $136,998,000 after buying an additional 178,186 shares during the period. Centersquare Investment Management LLC lifted its holdings in shares of Broadstone Net Lease by 3.0% in the third quarter. Centersquare Investment Management LLC now owns 5,052,587 shares of the company’s stock worth $90,290,000 after buying an additional 146,402 shares in the last quarter. Alliancebernstein L.P. boosted its position in shares of Broadstone Net Lease by 2.7% in the second quarter. Alliancebernstein L.P. now owns 4,791,006 shares of the company’s stock valued at $76,896,000 after acquiring an additional 124,589 shares during the period. Invesco Ltd. boosted its position in shares of Broadstone Net Lease by 391.1% in the fourth quarter. Invesco Ltd. now owns 4,565,429 shares of the company’s stock valued at $79,302,000 after acquiring an additional 3,635,809 shares during the period. Finally, Balyasny Asset Management L.P. grew its stake in Broadstone Net Lease by 213.2% during the second quarter. Balyasny Asset Management L.P. now owns 4,335,166 shares of the company’s stock valued at $69,579,000 after acquiring an additional 2,951,207 shares in the last quarter. Institutional investors 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.