Broadstone Net Lease, Inc. (NYSE:BNL) Receives $18.20 Average Price Target from Brokerages

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

Several research analysts recently weighed in on BNL shares. UBS Group started coverage on shares of Broadstone Net Lease in a research note on Thursday, November 14th. They issued 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 company a “hold” rating in a research note on Friday, August 16th. Wedbush initiated 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 objective for the company. Finally, The Goldman Sachs Group upped their price objective on shares of Broadstone Net Lease from $14.50 to $16.00 and gave the company a “sell” rating in a research note on Friday, September 13th.

Institutional Investors Weigh In On Broadstone Net Lease

Institutional investors and hedge funds have recently made changes to their positions in the company. GAMMA Investing LLC raised its position in shares of Broadstone Net Lease by 257.5% during the 3rd quarter. GAMMA Investing LLC now owns 1,766 shares of the company’s stock valued at $33,000 after acquiring an additional 1,272 shares in the last quarter. Quarry LP raised its position in shares of Broadstone Net Lease by 93.1% during the 2nd quarter. Quarry LP now owns 2,556 shares of the company’s stock valued at $41,000 after acquiring an additional 1,232 shares in the last quarter. Blue Trust Inc. increased its position in 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 period. US Bancorp DE increased its position 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 buying an additional 3,406 shares during the period. Finally, KBC Group NV increased its position in Broadstone Net Lease by 29.4% in the third quarter. KBC Group NV now owns 6,220 shares of the company’s stock worth $118,000 after buying an additional 1,413 shares during the period. 89.07% of the stock is owned by institutional investors and hedge funds.

Broadstone Net Lease Price Performance

NYSE:BNL opened at $17.20 on Friday. The firm’s fifty day moving average price is $17.75 and its 200 day moving average price is $17.28. Broadstone Net Lease has a 1-year low of $14.20 and a 1-year high of $19.15. The firm has a market cap of $3.24 billion, a price-to-earnings ratio of 22.63 and a beta of 1.10.

Broadstone Net Lease (NYSE:BNL) last issued its earnings results on Wednesday, October 30th. The company reported $0.19 EPS for the quarter, missing the consensus estimate of $0.34 by ($0.15). The company had revenue of $108.40 million for the quarter, compared to analysts’ expectations 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 in the previous year, the firm posted $0.36 earnings per share. As a group, analysts expect that Broadstone Net Lease will post 1.39 earnings per share for the current fiscal year.

Broadstone Net Lease Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be paid a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a dividend yield of 6.74%. The ex-dividend date is Tuesday, December 31st. Broadstone Net Lease’s dividend payout ratio (DPR) is currently 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.