Broadstone Net Lease (BNL) Stock Price, News & Analysis

Company Overview

Broadstone Net Lease, Inc. (the Corporation) is a Maryland corporation formed on October 18, 2007, that elected to be taxed as a real estate investment trust (REIT) commencing with the taxable year ended December 31, 2008. Broadstone Net Lease, LLC (the Corporation's operating company, or the OP), is the entity through which the Corporation conducts its business and owns (either directly or through subsidiaries) all of the Corporation's properties. The Corporation is the sole managing member of the OP. The membership units not owned by the Corporation are referred to as OP Units or non-controlling interests. As the Corporation conducts substantially all of its operations through the OP, it is structured as what is referred to as an umbrella partnership real estate investment trust (UPREIT). The Corporation's common stock is listed on the New York Stock Exchange under the symbol BNL.

Key Stats

• Today's Range: $15.34 to $16.40
• 50-Day Range: $15.86 to $18.71
• 52-Week Range: $14.20 to $19.15
• Volume: 4.15 million shs
• Average Volume: 1.16 million shs
• Market Capitalization: $3.03 billion
• P/E Ratio: 21.15
• Dividend Yield: 7.22%
• Price Target: $18.60
• Consensus Rating: Hold

Broadstone Net Lease Stock Analysis - MarketRank™

Broadstone Net Lease scored higher than 63% of companies evaluated by MarketBeat, and ranked 474th out of 937 stocks in the finance sector. Scores are calculated by averaging available category scores, with extra weight given to analysis and valuation.

Analyst's Opinion

• Score: 2.2 / 5
• Analyst Rating: Hold

Consensus Rating

Broadstone Net Lease has received a consensus rating of Hold. The company's average rating score is 2.38, and is based on 2 buy ratings, 4 hold ratings, and 1 sell rating.

Amount of Analyst Coverage

Broadstone Net Lease has only been the subject of 3 research reports in the past 90 days.

Earnings and Valuation

• Score: 2.5 / 5
• Proj. Earnings Growth: 2.88%

Earnings Growth

Earnings for Broadstone Net Lease are expected to grow by 2.88% in the coming year, from $1.39 to $1.43 per share.

Price to Earnings Ratio vs. the Market

The P/E ratio of Broadstone Net Lease is 21.15, which means that it is trading at a less expensive P/E ratio than the market average P/E ratio of about 116.04.

Price to Earnings Ratio vs. Sector

The P/E ratio of Broadstone Net Lease is 21.15, which means that it is trading at a less expensive P/E ratio than the Finance sector average P/E ratio of about 32.63.

Price to Book Value per Share Ratio

Broadstone Net Lease has a P/B Ratio of 0.94. P/B Ratios below 1 indicate that a company could be undervalued with respect to its assets and liabilities.

Short Interest

• Score: 3.0 / 5
• Short Interest Level: Healthy

Percentage of Shares Shorted

2.08% of the float of Broadstone Net Lease has been sold short.

Short Interest Ratio / Days to Cover

Broadstone Net Lease has a short interest ratio ("days to cover") of 3.8, which is generally considered an acceptable ratio of short interest to trading volume.

Change versus previous month

Short interest in Broadstone Net Lease has recently increased by 5.71%, indicating that investor sentiment is decreasing significantly.

Dividend

• Score: 1.7 / 5
• Dividend Strength: Weak

Dividend Leadership

Broadstone Net Lease is a leading dividend payer. It pays a dividend yield of 6.86%, putting its dividend yield in the top 25% of dividend-paying stocks.

Dividend Growth

Broadstone Net Lease does not have a long track record of dividend growth.

Dividend Coverage

The dividend payout ratio of Broadstone Net Lease is 152.63%. Payout ratios above 75% are not desirable because they may not be sustainable.

Dividend Sustainability

Based on EPS estimates, Broadstone Net Lease will have a dividend payout ratio of 81.12% in the coming year. This indicates that Broadstone Net Lease may not be able to sustain their current dividend.

Sustainability and ESG

• Score: N/A
• Environmental Score: N/A

Percentage of Shares Shorted

2.08% of the float of Broadstone Net Lease has been sold short.

Short Interest Ratio / Days to Cover

Broadstone Net Lease has a short interest ratio ("days to cover") of 3.8, which is generally considered an acceptable ratio of short interest to trading volume.

Change versus previous month

Short interest in Broadstone Net Lease has recently increased by 5.71%, indicating that investor sentiment is decreasing significantly.

News and Social Media

• Score: 2.9 / 5
• News Sentiment: 1.15

News Sentiment

Broadstone Net Lease has a news sentiment score of 1.15. This score is calculated as an average of sentiment of articles about the company over the last seven days and ranges from 2 (good news) to -2 (bad news). This is a higher news sentiment than the 0.78 average news sentiment score of Finance companies.

News Coverage This Week

MarketBeat has tracked 14 news articles for Broadstone Net Lease this week, compared to 4 articles on an average week.

MarketBeat Follows

Only 2 people have added Broadstone Net Lease to their MarketBeat watchlist in the last 30 days. This is a decrease of 0% compared to the previous 30 days.

Company Ownership

• Score: 1.7 / 5
• Insider Trading: N/A

Insider Buying vs. Insider Selling

In the past three months, Broadstone Net Lease insiders have not sold or bought any company stock.

Percentage Held by Insiders

Only 0.81% of the stock of Broadstone Net Lease is held by insiders.

Percentage Held by Institutions

89.07% of the stock of Broadstone Net Lease is held by institutions. High institutional ownership can be a signal of strong market trust in this company.

BNL Stock Analysis - Frequently Asked Questions

How have BNL shares performed this year?

Broadstone Net Lease's stock was trading at $17.22 at the beginning of the year. Since then, BNL stock has decreased by 6.7% and is now trading at $16.07.
View the best growth stocks for 2024 here.

How were Broadstone Net Lease's earnings last quarter?

Broadstone Net Lease, Inc. (NYSE:BNL) released its quarterly earnings results on Wednesday, October, 30th. The company reported $0.19 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.34 by $0.15. The business had revenue of $108.40 million for the quarter, compared to analyst estimates of $106.47 million. Broadstone Net Lease had a trailing twelve-month return on equity of 4.47% and a net margin of 33.56%.

When did Broadstone Net Lease IPO?

Broadstone Net Lease (BNL) raised $603 million in an initial public offering (IPO) on Thursday, September 17th 2020. The company issued 33,500,000 shares at $17.00-$19.00 per share. J.P. Morgan, Goldman Sachs, BMO Capital Markets, Morgan Stanley, Capital One Securities and Truist Securities served as the underwriters for the IPO and Regions Securities, BTIG, KeyBanc Capital Markets and Ramirez were co-managers.

Who are Broadstone Net Lease's major shareholders?

Top institutional investors of Broadstone Net Lease include Principal Financial Group Inc. (7.45%), State Street Corp (4.32%), Geode Capital Management LLC (2.57%) and Charles Schwab Investment Management Inc. (1.59%). Insiders that own company stock include Ryan M Albano, John David Moragne, Kevin Fennell, Roderick Pickney, Michael A Coke, Michael B Caruso and Laurier J Lessard Jr.
View institutional ownership trends.

How do I buy shares of Broadstone Net Lease?

Shares of BNL stock can be purchased through any online brokerage account. Popular online brokerages with access to the U.S. stock market include Charles Schwab, E*TRADE, Fidelity, and Vanguard Brokerage Services.
Compare Top Brokerages Here.

What other stocks do shareholders of Broadstone Net Lease own?

Based on aggregate information from My MarketBeat watchlists, some other companies that Broadstone Net Lease investors own include American Water Works (AWK), Waste Connections (WCN), The RMR Group (RMR), DiamondRock Hospitality (DRH), AUO (AUOTY), iShares Micro-Cap ETF (IWC) and Triple Flag Precious Metals (TFPM).

Company Calendar

• Ex-Dividend for 10/15 Dividend: 9/30/2024
• Dividend Payable: 10/15/2024
• Last Earnings: 10/30/2024
• Today: 12/20/2024
• Ex-Dividend for 1/15 Dividend: 12/31/2024
• Fiscal Year End: 12/31/2024
• Dividend Payable: 1/15/2025

Industry, Sector and Symbol

• Stock Exchange: NYSE
• Sector: Finance
• Industry: Real estate investment trusts
• Sub-Industry: Trading
• Current Symbol: NYSE:BNL
• CUSIP: N/A
• CIK: 1424182
• Web: www.broadstone.com
• Phone: 585-287-6500
• Fax: 585-625-3680
• Employees: 74
• Year Founded: N/A

Price Target and Rating

• Average Stock Price Target: $18.60
• High Stock Price Target: $21.00
• Low Stock Price Target: $16.00
• Potential Upside/Downside: +15.7%
• Consensus Rating: Hold
• Rating Score (0-4): 2.38
• Research Coverage: 8 Analysts

Profitability

• EPS (Most Recent Fiscal Year): $0.76
• Trailing P/E Ratio: 21.15
• Forward P/E Ratio: 11.56
• P/E Growth: N/A
• Net Income: $155.48 million
• Net Margins: 33.56%
• Pretax Margin: 34.98%
• Return on Equity: 4.47%
• Return on Assets: 2.71%

Debt

• Debt-to-Equity Ratio: N/A
• Current Ratio: 0.08
• Quick Ratio: 0.08

Sales & Book Value

• Annual Sales: $424.67 million
• Price / Sales: 7.13
• Cash Flow: $1.58 per share
• Price / Cash Flow: 10.15
• Book Value: $17.03 per share
• Price / Book: 0.94

Miscellaneous

• Outstanding Shares: 188,547,000
• Free Float: 187,378,000
• Market Cap: $3.03 billion
• Optionable: Optionable
• Beta: 1.10