Truist upgrades Broadstone Net Lease to Buy ahead of Project Triboro
Truist Securities raised its rating on Broadstone Net Lease Inc. (BNL) from Hold to Buy on October 1, 2026 and cut the price target to $21 from $22. The upgrade is driven by expectations that Project Triboro will lift the REIT’s five‑year earnings growth to +4% or +3% depending on the outcome. Truist highlighted the REIT’s 6.52% dividend yield and noted a high payout ratio of 145%.
Why it matters
The rating upgrade may attract income‑focused investors and could support the share price, while the lower price target signals a modest downside expectation. Truist’s view suggests the earnings boost from Project Triboro could improve dividend coverage.
Key facts
- 1Truist upgraded Broadstone Net Lease from Hold to Buy on October 1, 2026. gurufocus.com
- 2The price target was reduced to $21 from $22. gurufocus.com
- 3Analysts expect Project Triboro to raise five‑year earnings growth to +4% or +3% depending on the scenario. gurufocus.com
- 4Broadstone Net Lease offers a dividend yield of 6.52%. gurufocus.com
- 5The dividend payout ratio is 145%. gurufocus.com
- 6The REIT’s GF Value is $18.38, about 0.7% above the current price of $18.25. gurufocus.com
Summary written by AlphAI from 2 of 2 sources. Not investment advice. Figures are as stated by the linked sources.