Broadstone Net Lease, Inc. (NYSE:BNL) Receives Average Recommendation of “Hold” from Brokerages

Shares of Broadstone Net Lease, Inc. (NYSE:BNL) have been given an average recommendation of “Hold” by the seven research firms that are currently covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, four have issued a hold recommendation and two have given a buy recommendation to the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $18.20.

BNL has been the topic of a number of recent research reports. Truist Financial lifted their target price on shares of Broadstone Net Lease from $16.00 to $18.00 and gave the company a “hold” rating in a report on Friday, August 16th. Wedbush initiated coverage on shares of Broadstone Net Lease in a report on Monday, August 19th. They issued an “outperform” rating and a $20.00 target price on the stock. 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 target price on the stock. Finally, The Goldman Sachs Group boosted 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 have recently made changes to their positions in the stock. GAMMA Investing LLC boosted 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 worth $33,000 after purchasing an additional 1,272 shares in the last quarter. Quarry LP boosted its position in shares of Broadstone Net Lease by 93.1% in the 2nd quarter. Quarry LP now owns 2,556 shares of the company’s stock worth $41,000 after buying an additional 1,232 shares in the last quarter. Blue Trust Inc. boosted its position in shares of Broadstone Net Lease by 156.5% in the 3rd quarter. Blue Trust Inc. now owns 3,902 shares of the company’s stock worth $74,000 after buying an additional 2,381 shares in the last quarter. US Bancorp DE boosted its position in shares of Broadstone Net Lease by 636.6% in the 3rd quarter. US Bancorp DE now owns 3,941 shares of the company’s stock worth $75,000 after buying an additional 3,406 shares in the last quarter. Finally, KBC Group NV boosted its position in shares of Broadstone Net Lease by 29.4% in the 3rd quarter. KBC Group NV now owns 6,220 shares of the company’s stock worth $118,000 after buying an additional 1,413 shares in the last quarter. 89.07% of the stock is currently owned by hedge funds and other institutional investors.

Broadstone Net Lease Trading Down 0.8 %

Shares of NYSE:BNL opened at $17.07 on Tuesday. The company has a market capitalization of $3.22 billion, a PE ratio of 22.46 and a beta of 1.12. Broadstone Net Lease has a twelve month low of $14.20 and a twelve month high of $19.15. The firm has a 50 day simple moving average of $18.17 and a 200-day simple moving average of $17.08.

Broadstone Net Lease (NYSE:BNL) last announced its earnings results on Wednesday, October 30th. The company reported $0.19 EPS for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.15). The business had revenue of $108.40 million during the quarter, compared to analyst estimates 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 previous year, the firm earned $0.36 earnings per share. As a group, equities research analysts predict that Broadstone Net Lease will post 1.39 EPS for the current fiscal year.

Broadstone Net Lease Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be given a dividend of $0.29 per share. The ex-dividend date is Tuesday, December 31st. This represents a $1.16 annualized dividend and a dividend yield of 6.80%. Broadstone Net Lease’s payout ratio is currently 152.63%.

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.