Brokerages Set Broadstone Net Lease, Inc. (NYSE:BNL) Price Target at $18.25

Shares of Broadstone Net Lease, Inc. (NYSE:BNL) have earned an average rating of “Hold” from the seven brokerages that are covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation and two have issued a buy recommendation on the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $18.20.

A number of research analysts have commented on 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. Wedbush initiated coverage on Broadstone Net Lease in a research note on Monday, August 19th. They issued an “outperform” rating and a $20.00 price target on the stock. The Goldman Sachs Group boosted 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, UBS Group initiated coverage on Broadstone Net Lease in a research report on Thursday. They issued a “neutral” rating and a $18.00 target price for the company.

Broadstone Net Lease Stock Down 0.5 %

BNL stock opened at $16.93 on Tuesday. Broadstone Net Lease has a 52-week low of $14.20 and a 52-week high of $19.15. The company’s 50-day simple moving average is $18.22 and its 200-day simple moving average is $17.02. The firm has a market cap of $3.19 billion, a P/E ratio of 22.28 and a beta of 1.12.

Broadstone Net Lease (NYSE:BNL) last issued its quarterly earnings results 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). 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 during the quarter, compared to analysts’ expectations of $106.47 million. During the same period in the prior year, the business posted $0.36 earnings per share. On average, analysts anticipate that Broadstone Net Lease will post 1.39 earnings per share for the current fiscal year.

Broadstone Net Lease Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be paid a $0.29 dividend. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $1.16 dividend on an annualized basis and a dividend yield of 6.85%. Broadstone Net Lease’s dividend payout ratio (DPR) is presently 152.63%.

Institutional Trading of Broadstone Net Lease

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Millennium Management LLC increased its holdings in Broadstone Net Lease by 709.4% in the second quarter. Millennium Management LLC now owns 3,177,459 shares of the company’s stock valued at $50,426,000 after buying an additional 2,784,878 shares in the last quarter. V3 Capital Management L.P. acquired a new position in Broadstone Net Lease during the first quarter worth $20,747,000. Lasalle Investment Management Securities LLC purchased a new stake in Broadstone Net Lease during the first quarter worth $18,226,000. Victory Capital Management Inc. grew its holdings in Broadstone Net Lease by 2,302.8% in the second quarter. Victory Capital Management Inc. now owns 1,073,735 shares of the company’s stock valued at $17,040,000 after purchasing an additional 1,029,048 shares during the last quarter. Finally, Janus Henderson Group PLC increased its position in shares of Broadstone Net Lease by 159.4% in the first quarter. Janus Henderson Group PLC now owns 1,394,892 shares of the company’s stock valued at $21,858,000 after buying an additional 857,141 shares in the last quarter. Institutional investors and hedge funds own 89.07% of the company’s stock.

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.