Broadstone Net Lease (NYSE:BNL) Coverage Initiated by Analysts at UBS Group

UBS Group assumed coverage on shares of Broadstone Net Lease (NYSE:BNL) in a research note issued to investors on Thursday morning, Marketbeat Ratings reports. The firm issued a neutral rating and a $18.00 price objective on the stock.

A number of other analysts have also issued reports on BNL. 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 on the stock. Truist Financial upped their price objective on Broadstone Net Lease from $16.00 to $18.00 and gave the stock a “hold” rating in a research report on Friday, August 16th. Finally, The Goldman Sachs Group upped their price objective on Broadstone Net Lease from $14.50 to $16.00 and gave the stock a “sell” rating in a research report on Friday, September 13th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $18.20.

Broadstone Net Lease Stock Up 1.4 %

Shares of Broadstone Net Lease stock traded up $0.23 on Thursday, hitting $17.16. 446,996 shares of the company were exchanged, compared to its average volume of 1,159,729. Broadstone Net Lease has a 1-year low of $14.20 and a 1-year high of $19.15. The stock has a market capitalization of $3.24 billion, a price-to-earnings ratio of 22.28 and a beta of 1.12. The company has a 50-day moving average price of $18.22 and a 200 day moving average price of $17.02.

Broadstone Net Lease (NYSE:BNL) last released its quarterly earnings data on Wednesday, October 30th. The company reported $0.19 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 analyst estimates of $106.47 million. During the same quarter in the prior year, the company posted $0.36 earnings per share. Research analysts forecast that Broadstone Net Lease will post 1.39 EPS for the current year.

Broadstone Net Lease Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be paid a dividend of $0.29 per share. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $1.16 dividend on an annualized basis and a dividend yield of 6.76%. Broadstone Net Lease’s payout ratio is currently 152.63%.

Hedge Funds Weigh In On Broadstone Net Lease

Several large investors have recently bought and sold shares of the stock. Russell Investments Group Ltd. boosted its stake in shares of Broadstone Net Lease by 7.0% during the first quarter. Russell Investments Group Ltd. now owns 112,984 shares of the company’s stock worth $1,770,000 after buying an additional 7,384 shares during the period. ProShare Advisors LLC boosted its holdings in shares of Broadstone Net Lease by 8.6% in the 1st quarter. ProShare Advisors LLC now owns 33,802 shares of the company’s stock valued at $530,000 after purchasing an additional 2,677 shares during the last quarter. Prevail Innovative Wealth Advisors LLC acquired a new position in shares of Broadstone Net Lease in the 1st quarter valued at $1,716,000. Vanguard Group Inc. raised its stake in shares of Broadstone Net Lease by 0.6% in the 1st quarter. Vanguard Group Inc. now owns 27,962,340 shares of the company’s stock valued at $438,170,000 after acquiring an additional 178,102 shares during the period. Finally, Allstate Corp raised its stake in shares of Broadstone Net Lease by 42.6% in the 1st quarter. Allstate Corp now owns 247,714 shares of the company’s stock valued at $3,882,000 after acquiring an additional 74,048 shares during the period. Institutional investors and hedge funds 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.