Analysts Set Broadstone Net Lease, Inc. (NYSE:BNL) PT at $18.60

Shares of Broadstone Net Lease, Inc. (NYSE:BNL) have earned a consensus recommendation of “Hold” from the eight ratings firms that are currently covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation, two have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price target among analysts that have covered the stock in the last year is $18.60.

A number of equities analysts have recently weighed in on the company. JMP Securities raised Broadstone Net Lease from a “market perform” rating to an “outperform” rating and set a $21.00 price target for the company in a report on Tuesday, December 17th. The Goldman Sachs Group upped their target price on shares of Broadstone Net Lease from $14.50 to $16.00 and gave the company a “sell” rating in a report on Friday, September 13th. UBS Group initiated coverage on shares of Broadstone Net Lease in a report on Thursday, November 14th. They set a “neutral” rating and a $18.00 price target for the company. Finally, Citizens Jmp raised shares of Broadstone Net Lease from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, December 17th.

Broadstone Net Lease Trading Up 1.0 %

Shares of NYSE BNL opened at $15.85 on Wednesday. The company’s 50-day moving average price is $16.97 and its 200 day moving average price is $17.39. Broadstone Net Lease has a 52 week low of $14.20 and a 52 week high of $19.15. The stock has a market cap of $2.99 billion, a price-to-earnings ratio of 20.86 and a beta of 1.10.

Broadstone Net Lease (NYSE:BNL) last released its quarterly 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). Broadstone Net Lease had a net margin of 33.56% and a return on equity of 4.47%. The business had revenue of $108.40 million during the quarter, compared to analyst estimates of $106.47 million. During the same quarter in the prior year, the company earned $0.36 earnings per share. As a group, research analysts expect that Broadstone Net Lease will post 1.39 earnings per share for the current year.

Broadstone Net Lease Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be given a $0.29 dividend. The ex-dividend date is Tuesday, December 31st. This represents a $1.16 annualized dividend and a dividend yield of 7.32%. Broadstone Net Lease’s dividend payout ratio is presently 152.63%.

Hedge Funds Weigh In On Broadstone Net Lease

Institutional investors and hedge funds have recently bought and sold shares of the stock. Natixis Advisors LLC boosted its holdings in shares of Broadstone Net Lease by 63.2% in the 3rd quarter. Natixis Advisors LLC now owns 114,272 shares of the company’s stock valued at $2,165,000 after purchasing an additional 44,264 shares during the last quarter. Sei Investments Co. boosted its holdings in Broadstone Net Lease by 20.8% in the second quarter. Sei Investments Co. now owns 545,556 shares of the company’s stock valued at $8,658,000 after acquiring an additional 94,092 shares during the last quarter. Victory Capital Management Inc. grew its position in Broadstone Net Lease by 2,302.8% during the second quarter. Victory Capital Management Inc. now owns 1,073,735 shares of the company’s stock valued at $17,040,000 after acquiring an additional 1,029,048 shares during the period. Meritage Portfolio Management acquired a new stake in Broadstone Net Lease during the third quarter worth about $5,610,000. Finally, Intech Investment Management LLC purchased a new position in shares of Broadstone Net Lease in the 3rd quarter worth about $633,000. 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.