Broadstone Net Lease, Inc. (NYSE:BNL) Short Interest Update

Broadstone Net Lease, Inc. (NYSE:BNL) was the recipient of a significant growth in short interest in November. As of November 30th, there was short interest totalling 3,890,000 shares, a growth of 5.7% from the November 15th total of 3,680,000 shares. Based on an average daily trading volume, of 1,030,000 shares, the days-to-cover ratio is presently 3.8 days. Approximately 2.1% of the shares of the stock are sold short.

Broadstone Net Lease Price Performance

Shares of NYSE BNL opened at $16.90 on Monday. The stock has a market capitalization of $3.19 billion, a P/E ratio of 22.24 and a beta of 1.10. Broadstone Net Lease has a 1-year low of $14.20 and a 1-year high of $19.15. The business’s 50 day moving average is $17.63 and its two-hundred day moving average is $17.33.

Broadstone Net Lease (NYSE:BNL) last released its earnings results on Wednesday, October 30th. The company reported $0.19 earnings per share 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 the consensus estimate of $106.47 million. Broadstone Net Lease had a net margin of 33.56% and a return on equity of 4.47%. During the same period in the prior year, the firm posted $0.36 EPS. As a group, equities research analysts anticipate that Broadstone Net Lease will post 1.39 earnings per share for the current fiscal year.

Broadstone Net Lease Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be issued a $0.29 dividend. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $1.16 annualized dividend and a dividend yield of 6.86%. Broadstone Net Lease’s dividend payout ratio (DPR) is presently 152.63%.

Institutional Trading of Broadstone Net Lease

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Franklin Resources Inc. grew its position in Broadstone Net Lease by 66.8% in the 3rd quarter. Franklin Resources Inc. now owns 574,124 shares of the company’s stock valued at $10,512,000 after acquiring an additional 229,874 shares during the last quarter. Geode Capital Management LLC increased its stake in Broadstone Net Lease by 1.3% in the 3rd quarter. Geode Capital Management LLC now owns 4,844,943 shares of the company’s stock worth $91,827,000 after buying an additional 62,515 shares during the period. Barclays PLC lifted its holdings in Broadstone Net Lease by 131.1% during the 3rd quarter. Barclays PLC now owns 318,142 shares of the company’s stock valued at $6,028,000 after buying an additional 180,456 shares in the last quarter. Public Employees Retirement System of Ohio boosted its position in Broadstone Net Lease by 0.9% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 270,542 shares of the company’s stock valued at $5,127,000 after buying an additional 2,387 shares during the period. Finally, XTX Topco Ltd bought a new position in Broadstone Net Lease in the 3rd quarter worth about $348,000. 89.07% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

BNL has been the topic of a number of research reports. The Goldman Sachs Group lifted their price target 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 began coverage on Broadstone Net Lease in a research report on Thursday, November 14th. They issued a “neutral” rating and a $18.00 target price on the stock. Finally, Wedbush initiated coverage on Broadstone Net Lease in a report on Monday, August 19th. They set an “outperform” rating and a $20.00 price target for the company. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $18.20.

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.