Citizens Turns Neutral on Broadstone Net Lease (BNL) as Leverage Remains Elevated

Broadstone Net Lease, Inc. (NYSE:BNL) is included among the 13 Best Dividend Stocks to Buy Under $25.

On June 12, Citizens downgraded Broadstone Net Lease, Inc. (NYSE:BNL) to Market Perform from Outperform and did not assign a price target. The firm said it has “favorable sentiment” towards Broadstone’s development funding platform but noted that the company’s leverage is near the upper end of management’s target range. The analyst stated in a research note that, unless Broadstone raises a significant amount of equity capital or sells assets, leverage is expected to remain elevated. With the stock trading just below its previous $21 price target, Citizens believes Broadstone is fairly valued.

On June 8, Truist raised the firm’s price recommendation on Broadstone Net Lease to $22 from $20. It reiterated a Hold rating on the shares. The firm increased its 2026 FAD estimate by 0.6% and its 2027 estimate by 6.3%. According to analyst Ki Bin Kim, the larger increase for 2027 reflects a new assumption that Broadstone will monetize its Project Triboro investment at twice its cost at the beginning of next year. In a research note, the analyst also said the firm expects management to provide additional details about the investment by the end of this year.

Broadstone Net Lease, Inc. (NYSE:BNL) is an industrial-focused, diversified net lease real estate investment trust (REIT). The company primarily invests in single-tenant commercial properties that are leased on a long-term net lease basis to a diverse group of tenants.

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