BMO Capital analyst John Kim has maintained their bullish stance on BNL stock, giving a Buy rating on July 28.
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John Kim has given his Buy rating due to a combination of factors that highlight Broadstone Net Lease’s strong performance and strategic advancements. The company reported a significant beat in its second-quarter 2025 results, driven by substantial acquisitions amounting to $140.8 million, which led to an increase in adjusted funds from operations per share (AFFOps) and a raised full-year guidance surpassing both Street and BMO expectations. This growth is further supported by Broadstone’s refined strategy, which includes the addition of three new build-to-suit projects with improving initial yields.
Moreover, Broadstone’s financial health is underscored by a lower-than-expected bad debt level and increased restaurant rent coverage, indicating robust operational performance. The company’s investment-grade tenant exposure has also risen, enhancing its risk profile. However, it’s important to note that there are some concerns, such as a slight increase in leverage and a decrease in financial reporting coverage, but these are outweighed by the positive developments that support the Buy rating.
In another report released on July 28, Citizens JMP also reiterated a Buy rating on the stock with a $21.00 price target.