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

Broadstone Net Lease, Inc. (NYSE:BNL) has earned an average rating of “Hold” from the eight analysts that are currently covering the company, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, four have given a hold recommendation, two have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price target among analysts that have covered the stock in the last year is $18.60.

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

Broadstone Net Lease Trading Up 1.0 %

Broadstone Net Lease stock opened at $16.01 on Friday. The stock has a 50-day moving average price of $16.41 and a two-hundred day moving average price of $17.39. Broadstone Net Lease has a 12 month low of $14.20 and a 12 month high of $19.15. The company has a market capitalization of $3.02 billion, a PE ratio of 21.06 and a beta of 1.11.

Broadstone Net Lease (NYSE:BNL) last issued its quarterly earnings data on Wednesday, October 30th. The company reported $0.19 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.15). Broadstone Net Lease had a net margin of 33.56% and a return on equity of 4.47%. The business had revenue of $108.40 million during the quarter, compared to the consensus estimate of $106.47 million. During the same quarter last year, the business earned $0.36 EPS. As a group, analysts predict that Broadstone Net Lease will post 1.39 earnings per share for the current fiscal year.

Broadstone Net Lease Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were given a $0.29 dividend. This represents a $1.16 annualized dividend and a dividend yield of 7.25%. The ex-dividend date was Tuesday, December 31st. Broadstone Net Lease’s dividend payout ratio (DPR) is presently 152.63%.

Institutional Investors Weigh In On Broadstone Net Lease

Several institutional investors and hedge funds have recently made changes to their positions in BNL. GAMMA Investing LLC boosted its stake in Broadstone Net Lease by 257.5% during the third quarter. GAMMA Investing LLC now owns 1,766 shares of the company’s stock worth $33,000 after acquiring an additional 1,272 shares in the last quarter. Quarry LP boosted its position in shares of Broadstone Net Lease by 93.1% during the 2nd quarter. Quarry LP now owns 2,556 shares of the company’s stock worth $41,000 after purchasing an additional 1,232 shares in the last quarter. Blue Trust Inc. grew its stake 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 valued at $74,000 after buying an additional 2,381 shares during the period. US Bancorp DE increased its position in Broadstone Net Lease by 636.6% in the 3rd 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 in the last quarter. Finally, KBC Group NV raised its stake in Broadstone Net Lease by 29.4% during 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 during the period. Institutional investors own 89.07% of the company’s stock.

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.