Brokerages Set Broadstone Net Lease, Inc. (NYSE:BNL) Price Target at $18.60

Broadstone Net Lease, Inc. (NYSE:BNL) has been given an average rating of “Hold” by the eight brokerages that are presently covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, four have given a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $18.60.

BNL has been the subject of a number of recent research reports. UBS Group initiated coverage on shares of Broadstone Net Lease in a report on Thursday, November 14th. They issued a “neutral” rating and a $18.00 price objective for the company. JMP Securities upgraded shares of Broadstone Net Lease from a “market perform” rating to an “outperform” rating and set a $21.00 price objective for the company in a report on Tuesday, December 17th. Finally, Citizens Jmp upgraded shares of Broadstone Net Lease from a “hold” rating to a “strong-buy” rating in a report on Tuesday, December 17th.

Broadstone Net Lease Trading Down 0.5 %

Shares of Broadstone Net Lease stock opened at $15.96 on Thursday. The business has a fifty day simple moving average of $15.80 and a two-hundred day simple moving average of $17.17. Broadstone Net Lease has a 12 month low of $14.20 and a 12 month high of $19.15. The firm has a market capitalization of $3.01 billion, a P/E ratio of 18.34 and a beta of 1.11.

Broadstone Net Lease (NYSE:BNL) last announced its earnings results on Wednesday, February 19th. The company reported $0.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.20 by $0.16. Broadstone Net Lease had a net margin of 37.62% and a return on equity of 5.10%. The company had revenue of $112.13 million for the quarter, compared to the consensus estimate of $109.80 million. Analysts predict that Broadstone Net Lease will post 1.43 earnings per share for the current year.

Broadstone Net Lease Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be paid a $0.29 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $1.16 dividend on an annualized basis and a yield of 7.27%. Broadstone Net Lease’s payout ratio is presently 133.33%.

Hedge Funds Weigh In On Broadstone Net Lease

A number of hedge funds and other institutional investors have recently bought and sold shares of BNL. Norges Bank acquired a new stake in Broadstone Net Lease in the fourth quarter worth $36,170,000. Bank of Montreal Can raised its holdings in Broadstone Net Lease by 603.9% in the fourth quarter. Bank of Montreal Can now owns 1,891,881 shares of the company’s stock worth $30,005,000 after purchasing an additional 1,623,098 shares during the period. Brookfield Corp ON acquired a new stake in Broadstone Net Lease in the third quarter worth $18,444,000. Wellington Management Group LLP acquired a new stake in Broadstone Net Lease in the third quarter worth $12,574,000. Finally, Systematic Financial Management LP raised its holdings in Broadstone Net Lease by 298.1% in the third quarter. Systematic Financial Management LP now owns 747,706 shares of the company’s stock worth $14,169,000 after purchasing an additional 559,906 shares during the period. 89.07% of the stock is owned by institutional investors.

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.