Broadstone Net Lease (BNL) to Release Quarterly Earnings on Wednesday

Broadstone Net Lease (NYSE:BNL) will be issuing its quarterly earnings data after the market closes on Wednesday, October 30th. Analysts expect the company to announce earnings of $0.34 per share for the quarter. Broadstone Net Lease has set its FY 2024 guidance at 1.410-1.430 EPS.Parties interested in participating in the company’s conference call can do so using this link.

Broadstone Net Lease (NYSE:BNL) last released its earnings results on Tuesday, July 30th. The company reported $0.19 EPS for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.15). The firm had revenue of $105.91 million during the quarter, compared to analysts’ expectations of $105.95 million. Broadstone Net Lease had a net margin of 36.78% and a return on equity of 4.86%. During the same quarter in the previous year, the business earned $0.35 EPS. On average, analysts expect Broadstone Net Lease to post $1 EPS for the current fiscal year and $1 EPS for the next fiscal year.

Broadstone Net Lease Stock Down 1.7 %

BNL opened at $17.79 on Monday. The stock has a market cap of $3.35 billion, a PE ratio of 18.53 and a beta of 1.11. The business has a 50 day moving average of $18.39 and a 200-day moving average of $16.74. Broadstone Net Lease has a 52 week low of $13.68 and a 52 week high of $19.15.

Broadstone Net Lease Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were paid a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a dividend yield of 6.52%. The ex-dividend date of this dividend was Monday, September 30th. Broadstone Net Lease’s payout ratio is presently 120.83%.

Wall Street Analyst Weigh In

A number of research firms have recently commented on BNL. Wedbush began coverage on Broadstone Net Lease in a research note on Monday, August 19th. They issued an “outperform” rating and a $20.00 target price for the company. The Goldman Sachs Group raised their target price on Broadstone Net Lease from $14.50 to $16.00 and gave the company a “sell” rating in a research note on Friday, September 13th. Finally, Truist Financial lifted their price objective on Broadstone Net Lease from $16.00 to $18.00 and gave the company a “hold” rating in a research note on Friday, August 16th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, Broadstone Net Lease presently has an average rating of “Hold” and an average target price of $18.25.

Broadstone Net Lease Company Profile

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.