Capital One Financial Weighs in on Broadstone Net Lease, Inc.’s Q3 2022 Earnings (NYSE:BNL)

Broadstone Net Lease, Inc. (NYSE:BNLGet Rating) – Analysts at Capital One Financial dropped their Q3 2022 earnings estimates for Broadstone Net Lease in a report released 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 prior forecast 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.

Broadstone Net Lease (NYSE:BNLGet Rating) last posted its quarterly earnings results on Tuesday, May 3rd. The company reported $0.16 earnings per share for the quarter, topping the consensus estimate of $0.15 by $0.01. Broadstone Net Lease had a net margin of 29.28% and a return on equity of 4.29%. During the same period in the prior year, the company earned $0.31 EPS.

BNL has been the topic of a number of other reports. Truist Financial cut their price target on Broadstone Net Lease from $25.00 to $22.00 and set a “hold” rating on the stock in a research note on Tuesday, June 21st. Morgan Stanley cut their price objective on Broadstone Net Lease from $25.00 to $21.00 and set an “equal weight” rating for the company in a research report on Tuesday, July 12th. Finally, The Goldman Sachs Group lowered their target price on Broadstone Net Lease from $25.00 to $22.00 and set a “neutral” rating on the stock in a report on Wednesday, June 15th.

Broadstone Net Lease Stock Down 0.1 %

NYSE:BNL opened at $21.79 on Thursday. The stock’s fifty day moving average is $21.24 and its two-hundred day moving average is $21.44. Broadstone Net Lease has a 52 week low of $18.96 and a 52 week high of $28.00. The stock has a market capitalization of $3.69 billion, a price-to-earnings ratio of 29.85 and a beta of 0.95.

Broadstone Net Lease Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 14th. Investors of record on Friday, September 30th will be issued a dividend of $0.27 per share. The ex-dividend date of this dividend is Thursday, September 29th. This represents a $1.08 annualized dividend and a dividend yield of 4.96%. Broadstone Net Lease’s payout ratio is currently 147.95%.

Institutional Investors Weigh In On Broadstone Net Lease

Several hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. boosted its stake in 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 acquiring an additional 269,047 shares during the last quarter. Principal Financial Group Inc. boosted its stake in Broadstone Net Lease by 9.1% during the 1st quarter. Principal Financial Group Inc. now owns 12,867,003 shares of the company’s stock valued at $280,244,000 after acquiring an additional 1,071,012 shares during the last quarter. State Street Corp boosted its stake in Broadstone Net Lease by 16.8% during the 1st quarter. State Street Corp now owns 7,430,232 shares of the company’s stock valued at $163,754,000 after acquiring an additional 1,067,308 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its stake in Broadstone Net Lease by 22.0% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 3,308,913 shares of the company’s stock valued at $72,068,000 after acquiring an additional 596,561 shares during the last quarter. Finally, Geode Capital Management LLC lifted its position in shares of 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 buying an additional 470,227 shares during the last quarter. 78.66% of the stock is currently owned by hedge funds and other institutional investors.

Broadstone Net Lease Company Profile

(Get Rating)

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.

Further Reading

Earnings History and Estimates for Broadstone Net Lease (NYSE:BNL)

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