Broadstone Net Lease, Inc. (NYSE:BNL) Receives Average Recommendation of “Hold” from Analysts

Shares of Broadstone Net Lease, Inc. (NYSE:BNL) have been assigned a consensus rating of “Hold” from the seven ratings firms that are presently covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $18.20.

A number of analysts have recently commented on BNL shares. Wedbush started coverage on shares of Broadstone Net Lease in a research note on Monday, August 19th. They set an “outperform” rating and a $20.00 target price for the company. UBS Group started coverage on shares of Broadstone Net Lease in a research note on Thursday, November 14th. They set a “neutral” rating and a $18.00 target price for the company. Truist Financial boosted their target price on shares of Broadstone Net Lease from $16.00 to $18.00 and gave the stock a “hold” rating in a research note on Friday, August 16th. Finally, The Goldman Sachs Group boosted their target price on shares of Broadstone Net Lease from $14.50 to $16.00 and gave the stock a “sell” rating in a research note on Friday, September 13th.

Institutional Trading of Broadstone Net Lease

Several large investors have recently bought and sold shares of the business. GAMMA Investing LLC grew its stake in shares of Broadstone Net Lease by 257.5% in the 3rd quarter. GAMMA Investing LLC now owns 1,766 shares of the company’s stock valued at $33,000 after buying an additional 1,272 shares during the period. Quarry LP grew its stake in shares of Broadstone Net Lease by 93.1% in the 2nd quarter. Quarry LP now owns 2,556 shares of the company’s stock valued at $41,000 after buying an additional 1,232 shares during the period. Blue Trust Inc. grew its stake in shares of Broadstone Net Lease by 156.5% in the 3rd quarter. Blue Trust Inc. now owns 3,902 shares of the company’s stock valued at $74,000 after buying an additional 2,381 shares during the period. US Bancorp DE grew its stake in shares of Broadstone Net Lease by 636.6% in the 3rd quarter. US Bancorp DE now owns 3,941 shares of the company’s stock valued at $75,000 after buying an additional 3,406 shares during the period. Finally, KBC Group NV grew its stake in shares of Broadstone Net Lease by 29.4% in the 3rd quarter. KBC Group NV now owns 6,220 shares of the company’s stock valued at $118,000 after buying an additional 1,413 shares during the period. Hedge funds and other institutional investors own 89.07% of the company’s stock.

Broadstone Net Lease Stock Performance

Shares of Broadstone Net Lease stock opened at $17.23 on Friday. The firm has a 50-day simple moving average of $17.78 and a two-hundred day simple moving average of $17.24. The company has a market cap of $3.25 billion, a P/E ratio of 22.67 and a beta of 1.10. Broadstone Net Lease has a fifty-two week low of $14.20 and a fifty-two week high of $19.15.

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

Broadstone Net Lease Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be paid 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 yield of 6.73%. Broadstone Net Lease’s dividend payout ratio is presently 152.63%.

About Broadstone Net Lease

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.