Broadstone Net Lease, Inc. (NYSE:BNL) Receives $18.60 Average PT from Brokerages

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

A number of research analysts have recently weighed in on the company. JMP Securities upgraded Broadstone Net Lease from a “market perform” rating to an “outperform” rating and set a $21.00 target price on the stock in a report on Tuesday, December 17th. UBS Group initiated coverage on Broadstone Net Lease in a research note on Thursday, November 14th. They set a “neutral” rating and a $18.00 price objective on the stock. Citizens Jmp raised shares of Broadstone Net Lease from a “hold” rating to a “strong-buy” rating in a report on Tuesday, December 17th. Finally, The Goldman Sachs Group increased their target price 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.

Broadstone Net Lease Trading Up 1.0 %

Shares of BNL stock opened at $15.85 on Wednesday. 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 $2.99 billion, a PE ratio of 20.86 and a beta of 1.10. The firm has a fifty day simple moving average of $16.97 and a two-hundred day simple moving average of $17.42.

Broadstone Net Lease (NYSE:BNL) last posted its earnings results on Wednesday, October 30th. The company reported $0.19 EPS for the quarter, missing the consensus estimate of $0.34 by ($0.15). Broadstone Net Lease had a return on equity of 4.47% and a net margin of 33.56%. The business had revenue of $108.40 million for the quarter, compared to the consensus estimate of $106.47 million. During the same period in the previous year, the firm earned $0.36 earnings per share. On average, equities analysts predict that Broadstone Net Lease will post 1.39 earnings per share for the current fiscal 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 issued a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a dividend yield of 7.32%. The ex-dividend date of this dividend is Tuesday, December 31st. Broadstone Net Lease’s dividend payout ratio (DPR) is currently 152.63%.

Institutional Trading of Broadstone Net Lease

Hedge funds have recently added to or reduced their stakes in the stock. GAMMA Investing LLC increased its stake 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 during the last quarter. Quarry LP increased its position in Broadstone Net Lease by 93.1% in the second quarter. Quarry LP now owns 2,556 shares of the company’s stock worth $41,000 after buying an additional 1,232 shares during the last quarter. Blue Trust Inc. increased its position in Broadstone Net Lease by 156.5% in the third quarter. Blue Trust Inc. now owns 3,902 shares of the company’s stock worth $74,000 after buying an additional 2,381 shares during the last quarter. US Bancorp DE raised its stake in shares of Broadstone Net Lease by 636.6% in the third quarter. US Bancorp DE now owns 3,941 shares of the company’s stock valued at $75,000 after buying an additional 3,406 shares during the period. Finally, KBC Group NV lifted its position in shares of Broadstone Net Lease by 29.4% during the 3rd quarter. KBC Group NV now owns 6,220 shares of the company’s stock valued at $118,000 after buying an additional 1,413 shares during the last quarter. 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.