Broadstone Net Lease, Inc. (BNL) to Issue Quarterly Dividend of $0.29 on April 15th

Broadstone Net Lease, Inc. (NYSE:BNL) announced a quarterly dividend on Wednesday, February 19th, Wall Street Journal reports. Investors of record on Monday, March 31st will be paid a dividend of 0.29 per share on Tuesday, April 15th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 6.84%. The ex-dividend date is Monday, March 31st.

Broadstone Net Lease has increased its dividend by an average of 12.8% per year over the last three years. Broadstone Net Lease has a dividend payout ratio of 154.7% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities analysts expect Broadstone Net Lease to earn $1.45 per share next year, which means the company should continue to be able to cover its $1.16 annual dividend with an expected future payout ratio of 80.0%.

Broadstone Net Lease Stock Performance

Shares of BNL opened at $16.97 on Friday. The business’s fifty day moving average price is $16.31 and its two-hundred day moving average price is $17.00. The firm has a market capitalization of $3.20 billion, a price-to-earnings ratio of 19.50 and a beta of 1.09. Broadstone Net Lease has a 52 week low of $14.21 and a 52 week high of $19.15.

Broadstone Net Lease (NYSE:BNL) last issued its quarterly earnings results on Wednesday, February 19th. The company reported $0.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.20 by $0.16. The business had revenue of $112.13 million for the quarter, compared to analyst estimates of $109.80 million. Broadstone Net Lease had a return on equity of 5.10% and a net margin of 37.62%. As a group, research analysts forecast that Broadstone Net Lease will post 1.43 EPS for the current year.

Analyst Ratings Changes

Several equities research analysts have recently commented on BNL shares. BMO Capital Markets set a $20.00 price target on shares of Broadstone Net Lease and gave the stock an “outperform” rating in a research report on Monday. JMP Securities raised shares of Broadstone Net Lease from a “market perform” rating to an “outperform” rating and set a $21.00 target price for the company in a report on Tuesday, December 17th. Finally, Citizens Jmp raised Broadstone Net Lease from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, December 17th. One research analyst has rated the stock with a sell rating, four have given a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $18.83.

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.