Broadstone Net Lease, Inc. (NYSE:BNL) Receives $18.83 Average Price Target from Analysts

Shares of Broadstone Net Lease, Inc. (NYSE:BNL) have received a consensus recommendation of “Hold” from the nine research firms that are currently covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $18.83.

A number of equities analysts have issued reports on BNL shares. 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 research note on Tuesday, December 17th. Citizens Jmp raised Broadstone Net Lease from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, December 17th. Finally, BMO Capital Markets set a $20.00 price target on shares of Broadstone Net Lease and gave the stock an “outperform” rating in a research report on Monday.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of BNL. Fairtree Asset Management Pty Ltd bought a new position in shares of Broadstone Net Lease in the fourth quarter worth about $413,000. Wealth Enhancement Advisory Services LLC grew its holdings in Broadstone Net Lease by 1.3% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 362,398 shares of the company’s stock valued at $5,748,000 after buying an additional 4,523 shares during the last quarter. GF Fund Management CO. LTD. bought a new position in Broadstone Net Lease in the 4th quarter worth approximately $54,000. PharVision Advisers LLC bought a new position in Broadstone Net Lease in the 4th quarter worth approximately $229,000. Finally, Zimmer Partners LP lifted its holdings in shares of Broadstone Net Lease by 550.0% during the fourth quarter. Zimmer Partners LP now owns 325,000 shares of the company’s stock worth $5,154,000 after buying an additional 275,000 shares during the last quarter. Institutional investors and hedge funds own 89.07% of the company’s stock.

Broadstone Net Lease Trading Down 0.5 %

Shares of Broadstone Net Lease stock opened at $16.97 on Wednesday. Broadstone Net Lease has a twelve month low of $14.21 and a twelve month high of $19.15. The stock has a market capitalization of $3.20 billion, a price-to-earnings ratio of 19.50 and a beta of 1.09. The business’s 50 day simple moving average is $16.31 and its 200-day simple moving average is $17.00.

Broadstone Net Lease (NYSE:BNL) last posted its earnings results on Wednesday, February 19th. The company reported $0.36 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $112.13 million during the quarter, compared to analyst estimates of $109.80 million. Sell-side analysts predict that Broadstone Net Lease will post 1.43 earnings per share for the current year.

Broadstone Net Lease Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be issued a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a dividend yield of 6.84%. The ex-dividend date of this dividend is Monday, March 31st. Broadstone Net Lease’s dividend payout ratio is currently 133.33%.

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.