Analysts Set Broadstone Net Lease, Inc. (NYSE:BNL) PT at $18.20

Shares of Broadstone Net Lease, Inc. (NYSE:BNL) have earned an average recommendation of “Hold” from the seven brokerages that are presently covering the company, MarketBeat reports. One research analyst has rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating on the company. The average 1-year price objective among brokers that have covered the stock in the last year is $18.20.

A number of brokerages have recently weighed in on BNL. UBS Group initiated coverage on shares of Broadstone Net Lease in a research note on Thursday, November 14th. They set a “neutral” rating and a $18.00 target price on the stock. Truist Financial lifted their price objective on Broadstone Net Lease from $16.00 to $18.00 and gave the company a “hold” rating in a research report on Friday, August 16th. Wedbush started coverage on Broadstone Net Lease in a research report on Monday, August 19th. They issued an “outperform” rating and a $20.00 target price for the company. Finally, The Goldman Sachs Group lifted their price target on Broadstone Net Lease from $14.50 to $16.00 and gave the company a “sell” rating in a research report on Friday, September 13th.

Broadstone Net Lease Stock Performance

NYSE BNL opened at $16.90 on Friday. Broadstone Net Lease has a fifty-two week low of $14.20 and a fifty-two week high of $19.15. The stock has a market cap of $3.19 billion, a P/E ratio of 22.24 and a beta of 1.10. The stock has a 50 day simple moving average of $17.63 and a two-hundred day simple moving average of $17.30.

Broadstone Net Lease (NYSE:BNL) last released its quarterly 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 during 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 quarter last year, the firm earned $0.36 EPS. Sell-side analysts predict that Broadstone Net Lease will post 1.39 earnings per share for the current year.

Broadstone Net Lease Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be paid a $0.29 dividend. The ex-dividend date is Tuesday, December 31st. This represents a $1.16 annualized dividend and a dividend yield of 6.86%. Broadstone Net Lease’s payout ratio is currently 152.63%.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the stock. Millennium Management LLC increased its holdings in shares of Broadstone Net Lease by 709.4% during the second quarter. Millennium Management LLC now owns 3,177,459 shares of the company’s stock valued at $50,426,000 after acquiring an additional 2,784,878 shares in the last quarter. Victory Capital Management Inc. grew its position in Broadstone Net Lease by 2,302.8% during the 2nd quarter. Victory Capital Management Inc. now owns 1,073,735 shares of the company’s stock valued at $17,040,000 after purchasing an additional 1,029,048 shares during the last quarter. Brookfield Corp ON purchased a new stake in Broadstone Net Lease during the 3rd quarter valued at about $18,444,000. Wellington Management Group LLP bought a new stake in Broadstone Net Lease during the 3rd quarter valued at about $12,574,000. Finally, Systematic Financial Management LP increased its stake in Broadstone Net Lease by 298.1% during the 3rd quarter. Systematic Financial Management LP now owns 747,706 shares of the company’s stock valued at $14,169,000 after purchasing an additional 559,906 shares in the last quarter. Hedge funds and other institutional investors own 89.07% of the company’s stock.

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.