Broadstone Net Lease (BNL) Set to Announce Quarterly Earnings on Wednesday

Broadstone Net Lease (NYSE:BNL) is scheduled to issue its quarterly earnings data after the market closes on Wednesday, May 1st. Analysts expect the company to announce earnings of $0.34 per share for the quarter. Parties that wish to register for the company’s conference call can do so using this link.

Broadstone Net Lease Price Performance

NYSE BNL opened at $14.33 on Monday. The company’s 50 day simple moving average is $14.90 and its 200 day simple moving average is $15.57. Broadstone Net Lease has a 12 month low of $13.68 and a 12 month high of $17.59. The company has a market capitalization of $2.69 billion, a P/E ratio of 17.48 and a beta of 1.09.

Broadstone Net Lease Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Friday, March 29th were issued a $0.285 dividend. The ex-dividend date was Wednesday, March 27th. This represents a $1.14 dividend on an annualized basis and a dividend yield of 7.96%. Broadstone Net Lease’s payout ratio is currently 139.03%.

Analysts Set New Price Targets

BNL has been the topic of a number of research reports. TheStreet downgraded shares of Broadstone Net Lease from a “b-” rating to a “c+” rating in a report on Thursday, February 22nd. Truist Financial dropped their price objective on shares of Broadstone Net Lease from $18.00 to $17.00 and set a “hold” rating on the stock in a research note on Tuesday, February 27th. Wolfe Research reiterated a “peer perform” rating on shares of Broadstone Net Lease in a research note on Tuesday, April 9th. Finally, The Goldman Sachs Group initiated coverage on shares of Broadstone Net Lease in a research note on Thursday, March 7th. They issued a “sell” rating and a $14.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $16.75.

Insider Transactions at Broadstone Net Lease

In other Broadstone Net Lease news, CFO Kevin Fennell purchased 4,000 shares of the company’s stock in a transaction dated Monday, February 26th. The shares were bought at an average price of $14.63 per share, for a total transaction of $58,520.00. Following the purchase, the chief financial officer now directly owns 63,556 shares in the company, valued at approximately $929,824.28. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Broadstone Net Lease news, Director Michael A. Coke purchased 10,000 shares of the company’s stock in a transaction dated Monday, February 26th. The shares were bought at an average price of $14.67 per share, for a total transaction of $146,700.00. Following the purchase, the director now directly owns 34,817 shares in the company, valued at approximately $510,765.39. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Kevin Fennell purchased 4,000 shares of the company’s stock in a transaction dated Monday, February 26th. The shares were acquired at an average price of $14.63 per share, for a total transaction of $58,520.00. Following the purchase, the chief financial officer now owns 63,556 shares in the company, valued at $929,824.28. The disclosure for this purchase can be found here. 0.62% of the stock is currently owned by company insiders.

Broadstone Net Lease Company Profile

BNL is an industrial-focused, diversified net lease 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. Utilizing an investment strategy underpinned by strong fundamental credit analysis and prudent real estate underwriting, as of September 30, 2023, BNL's diversified portfolio consisted of 800 individual net leased commercial properties with 793 properties located in 44 U.S.