Broadstone Net Lease (NYSE:BNL) Issues FY 2024 Earnings Guidance

Broadstone Net Lease (NYSE:BNL) updated its FY 2024 earnings guidance on Wednesday. The company provided EPS guidance of 1.410-1.430 for the period, compared to the consensus EPS estimate of 1.480. The company issued revenue guidance of -.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the stock. The Goldman Sachs Group lifted their price target on shares of Broadstone Net Lease from $14.50 to $16.00 and gave the company a “sell” rating in a research note on Friday, September 13th. Truist Financial lifted their price target on shares of Broadstone Net Lease from $16.00 to $18.00 and gave the company a “hold” rating in a research note on Friday, August 16th. Finally, Wedbush assumed coverage on shares of Broadstone Net Lease in a research note on Monday, August 19th. They issued an “outperform” rating and a $20.00 price target for the company. One analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Broadstone Net Lease has an average rating of “Hold” and a consensus price target of $18.25.

Broadstone Net Lease Price Performance

NYSE:BNL opened at $17.60 on Friday. The firm has a 50-day moving average of $18.40 and a 200-day moving average of $16.80. The company has a market cap of $3.32 billion, a PE ratio of 23.15 and a beta of 1.11. Broadstone Net Lease has a one year low of $13.91 and a one year high of $19.15.

Broadstone Net Lease (NYSE:BNL) last issued its quarterly earnings data on Tuesday, July 30th. The company reported $0.19 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.15). Broadstone Net Lease had a return on equity of 4.45% and a net margin of 33.56%. The firm had revenue of $105.91 million during the quarter, compared to the consensus estimate of $105.95 million. During the same period in the previous year, the company posted $0.35 earnings per share. On average, equities research analysts expect that Broadstone Net Lease will post 1.39 earnings per share for the current fiscal year.

Broadstone Net Lease Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be given a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a yield of 6.59%. The ex-dividend date is Tuesday, December 31st. Broadstone Net Lease’s payout ratio is 152.63%.

About Broadstone Net Lease

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.