Broadstone Net Lease, Inc. (NYSE: BNL – Get Rating) – Equities research analysts at Capital One Financial reduced their Q3 2022 earnings per share estimates for shares of Broadstone Net Lease in a research report issued on Monday, August 1st. Capital One Financial analyst C. Lucas now anticipates that the company will earn $ 0.37 per share for the quarter, down from their previous estimate of $ 0.38. The consensus estimate for Broadstone Net Lease’s current full-year earnings is $ 1.45 per share. Capital One Financial also issued estimates for Broadstone Net Lease’s Q4 2022 earnings at $ 0.37 EPS, FY2022 earnings at $ 1.46 EPS, Q2 2023 earnings at $ 0.37 EPS, Q3 2023 earnings at $ 0.38 EPS, Q4 2023 earnings at $ 0.39 EPS, FY2023 earnings at $ 1.50 EPS, Q1 2024 earnings at $ 0.37 EPS, Q2 2024 earnings at $ 0.39 EPS, FY2024 earnings at $ 1.55 EPS and FY2025 earnings at $ 1.61 EPS.
A number of other analysts also recently weighed in on the company. Morgan Stanley decreased their price target on Broadstone Net Lease from $ 25.00 to $ 21.00 and set an “equal weight” rating on the stock in a research note on Tuesday, July 12th. Truist Financial cut their price target on Broadstone Net Lease from $ 25.00 to $ 22.00 and set a “hold” rating for the company in a report on Tuesday, June 21st. Finally, The Goldman Sachs Group dropped their target price on Broadstone Net Lease from $ 25.00 to $ 22.00 and set a “neutral” rating for the company in a research note on Wednesday, June 15th.
Broadstone Net Lease Stock Performance
BNL stock opened at $ 21.79 on Thursday. Broadstone Net Lease has a one year low of $ 18.96 and a one year high of $ 28.00. The company has a fifty day moving average of $ 21.24 and a 200-day moving average of $ 21.44. The stock has a market capitalization of $ 3.69 billion, a PE ratio of 29.85 and a beta of 0.95.
Broadstone Net Lease (NYSE: BNL – Get Rating) last issued its quarterly earnings results on Tuesday, May 3rd. The company reported $ 0.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $ 0.15 by $ 0.01. Broadstone Net Lease had a return on equity of 4.29% and a net margin of 29.28%. During the same period in the previous year, the firm posted $ 0.31 EPS.
Broadstone Net Lease Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Friday, October 14th. Shareholders of record on Friday, September 30th will be given a $ 0.27 dividend. This represents a $ 1.08 annualized dividend and a yield of 4.96%. The ex-dividend date is Thursday, September 29th. Broadstone Net Lease’s dividend payout ratio (DPR) is presently 147.95%.
Institutional Trading of Broadstone Net Lease
Several institutional investors and hedge funds have recently bought and sold shares of BNL. Vanguard Group Inc. boosted its stake in shares of Broadstone Net Lease by 1.2% during the 1st quarter. Vanguard Group Inc. now owns 22,942,959 shares of the company’s stock valued at $ 499,698,000 after buying an additional 269,047 shares during the period. Principal Financial Group Inc. lifted its stake in shares of Broadstone Net Lease by 9.1% in the 1st quarter. Principal Financial Group Inc. now owns 12,867,003 shares of the company’s stock valued at $ 280,244,000 after purchasing an additional 1,071,012 shares during the last quarter. State Street Corp raised its holdings in Broadstone Net Lease by 16.8% in the 1st quarter. State Street Corp now owns 7,430,232 shares of the company’s stock worth $ 163,754,000 after acquiring an additional 1,067,308 shares during the period. Massachusetts Financial Services Co. MA raised its holdings in Broadstone Net Lease by 22.0% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 3,308,913 shares of the company’s stock worth $ 72,068,000 after acquiring an additional 596,561 shares during the period. Finally, Geode Capital Management LLC raised its holdings in Broadstone Net Lease by 17.8% in the 4th quarter. Geode Capital Management LLC now owns 3,118,959 shares of the company’s stock worth $ 77,412,000 after acquiring an additional 470,227 shares during the period. Institutional investors and hedge funds own 78.66% of the company’s stock.
About Broadstone Net Lease
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.
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