Analyst Reaffirms Buy on Broadstone Net Lease, Citing Solid Q1 Performance and Strong Cash Flow Visibility

In a report released today, Eric Borden from BMO Capital maintained a Buy rating on Broadstone Net Lease, with a price target of $24.00.

Eric Borden has given his Buy rating due to a combination of factors that highlight Broadstone Net Lease’s steady operating performance and cash flow visibility. He points to solid first‑quarter results, including year‑over‑year growth in adjusted funds from operations and same‑store rental revenue, fully collected rents with no bad debt, and successful asset sales at attractive cap rates and gains over purchase price.

He also notes that investment activity is on pace to meet annual guidance and that tenant metrics remain healthy, with stable restaurant rent coverage and improved financial reporting coverage across the rent roll. While leverage is somewhat higher than that of certain net lease peers and investment‑grade tenant exposure has ticked down, he appears to view these risks as manageable in light of the company’s consistent performance and supportive fundamentals, justifying a positive outlook on the stock.

Based on the recent corporate insider activity of 51 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of BNL in relation to earlier this year.