Broadstone Net Lease, Inc. (NYSE:BNL) Receives $18.25 Average Target Price from Analysts

Shares of Broadstone Net Lease, Inc. (NYSE:BNL) have been given a consensus rating of “Hold” by the six ratings firms that are presently covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and two have given a buy recommendation to the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $18.25.

BNL has been the subject of several recent research reports. Truist Financial increased their price target on Broadstone Net Lease from $16.00 to $18.00 and gave the stock a “hold” rating in a report on Friday, August 16th. The Goldman Sachs Group upped their price objective on shares of Broadstone Net Lease from $14.50 to $16.00 and gave the stock a “sell” rating in a research report on Friday, September 13th. Finally, Wedbush started coverage on shares of Broadstone Net Lease in a report on Monday, August 19th. They issued an “outperform” rating and a $20.00 target price on the stock.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the company. Vanguard Group Inc. lifted its position in Broadstone Net Lease by 0.6% during the first quarter. Vanguard Group Inc. now owns 27,962,340 shares of the company’s stock valued at $438,170,000 after buying an additional 178,102 shares in the last quarter. Millennium Management LLC lifted its holdings in shares of Broadstone Net Lease by 709.4% during the 2nd quarter. Millennium Management LLC now owns 3,177,459 shares of the company’s stock valued at $50,426,000 after acquiring an additional 2,784,878 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of Broadstone Net Lease by 3.2% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,767,296 shares of the company’s stock valued at $28,047,000 after acquiring an additional 54,885 shares in the last quarter. Janus Henderson Group PLC boosted its position in Broadstone Net Lease by 159.4% during the 1st quarter. Janus Henderson Group PLC now owns 1,394,892 shares of the company’s stock worth $21,858,000 after purchasing an additional 857,141 shares during the period. Finally, V3 Capital Management L.P. acquired a new stake in Broadstone Net Lease in the 1st quarter valued at $20,747,000. 89.07% of the stock is owned by hedge funds and other institutional investors.

Broadstone Net Lease Price Performance

NYSE BNL opened at $18.71 on Friday. The firm’s fifty day moving average price is $18.30 and its 200 day moving average price is $16.62. Broadstone Net Lease has a 12 month low of $13.68 and a 12 month high of $19.15. The company has a market capitalization of $3.53 billion, a price-to-earnings ratio of 19.49 and a beta of 1.11.

Broadstone Net Lease (NYSE:BNL) last released its quarterly earnings results on Tuesday, July 30th. The company reported $0.19 EPS for the quarter, missing the consensus estimate of $0.34 by ($0.15). The firm had revenue of $105.91 million for the quarter, compared to analyst estimates of $105.95 million. Broadstone Net Lease had a return on equity of 4.86% and a net margin of 36.78%. During the same period last year, the firm earned $0.35 EPS. As a group, sell-side 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 announced a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were issued a $0.29 dividend. The ex-dividend date of this dividend was Monday, September 30th. This represents a $1.16 dividend on an annualized basis and a yield of 6.20%. Broadstone Net Lease’s payout ratio is 120.83%.

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.