Broadstone Net Lease, Inc. (NYSE:BNL) Short Interest Down 7.3% in November

Broadstone Net Lease, Inc. (NYSE:BNL) saw a significant decrease in short interest in the month of November. As of November 15th, there was short interest totalling 3,680,000 shares, a decrease of 7.3% from the October 31st total of 3,970,000 shares. Based on an average trading volume of 1,060,000 shares, the short-interest ratio is presently 3.5 days. Currently, 2.0% of the company’s shares are short sold.

Wall Street Analyst Weigh In

Several brokerages have weighed in on BNL. UBS Group assumed coverage on shares of Broadstone Net Lease in a research report on Thursday, November 14th. They set a “neutral” rating and a $18.00 price target for the company. Truist Financial upped their price target on Broadstone Net Lease from $16.00 to $18.00 and gave the stock a “hold” rating in a research note on Friday, August 16th. The Goldman Sachs Group lifted their price objective on Broadstone Net Lease from $14.50 to $16.00 and gave the company a “sell” rating in a research note on Friday, September 13th. Finally, Wedbush began coverage on shares of Broadstone Net Lease in a research note on Monday, August 19th. They set an “outperform” rating and a $20.00 price target on the stock. One investment analyst has rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $18.20.

Broadstone Net Lease Trading Down 0.5 %

Shares of NYSE BNL traded down $0.08 during midday trading on Wednesday, reaching $17.09. 124,449 shares of the company were exchanged, compared to its average volume of 1,147,827. The stock has a market cap of $3.22 billion, a P/E ratio of 22.59 and a beta of 1.10. Broadstone Net Lease has a 1 year low of $14.20 and a 1 year high of $19.15. The stock has a fifty day simple moving average of $17.88 and a 200 day simple moving average of $17.23.

Broadstone Net Lease (NYSE:BNL) last posted its quarterly earnings results on Wednesday, October 30th. The company reported $0.19 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.15). Broadstone Net Lease had a net margin of 33.56% and a return on equity of 4.47%. The company had revenue of $108.40 million for the quarter, compared to analyst estimates of $106.47 million. During the same quarter in the previous year, the business posted $0.36 earnings per share. As a group, analysts forecast that Broadstone Net Lease will post 1.39 earnings per share for the current year.

Broadstone Net Lease Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be issued a dividend of $0.29 per share. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $1.16 annualized dividend and a dividend yield of 6.79%. Broadstone Net Lease’s payout ratio is currently 152.63%.

Institutional Trading of Broadstone Net Lease

Several institutional investors have recently made changes to their positions in BNL. GAMMA Investing LLC increased its stake in Broadstone Net Lease by 257.5% during the third quarter. GAMMA Investing LLC now owns 1,766 shares of the company’s stock worth $33,000 after acquiring an additional 1,272 shares during the last quarter. Quarry LP boosted its holdings in Broadstone Net Lease by 93.1% in the second quarter. Quarry LP now owns 2,556 shares of the company’s stock valued at $41,000 after purchasing an additional 1,232 shares during the last quarter. Blue Trust Inc. increased its stake in shares of Broadstone Net Lease by 156.5% in the third quarter. Blue Trust Inc. now owns 3,902 shares of the company’s stock worth $74,000 after buying an additional 2,381 shares during the last quarter. US Bancorp DE grew its stake in Broadstone Net Lease by 636.6% in the third quarter. US Bancorp DE now owns 3,941 shares of the company’s stock worth $75,000 after purchasing an additional 3,406 shares in the last quarter. Finally, KBC Group NV lifted its stake in Broadstone Net Lease by 29.4% during the third quarter. KBC Group NV now owns 6,220 shares of the company’s stock worth $118,000 after purchasing an additional 1,413 shares during the last quarter. 89.07% of the stock is owned by hedge funds and other institutional investors.

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.