Broadstone Net Lease, Inc. (NYSE:BNL) Given Consensus Recommendation of “Hold” by Brokerages

Broadstone Net Lease, Inc. (NYSE:BNL) has been given an average rating of “Hold” by the six research firms that are covering the stock, MarketBeat reports. One research analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $18.25.

Several brokerages recently issued reports on BNL. Truist Financial boosted 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 began coverage on shares of Broadstone Net Lease in a research report on Monday, August 19th. They set an “outperform” rating and a $20.00 price objective for the company. Finally, The Goldman Sachs Group raised their price objective on shares of Broadstone Net Lease from $14.50 to $16.00 and gave the stock a “sell” rating in a report on Friday, September 13th.

Institutional Trading of Broadstone Net Lease

A number of institutional investors have recently made changes to their positions in BNL. Courier Capital LLC acquired a new position in shares of Broadstone Net Lease during the 3rd quarter worth about $1,658,000. WJ Interests LLC acquired a new position in Broadstone Net Lease during the third quarter valued at approximately $301,000. Blue Trust Inc. grew its stake in Broadstone Net Lease by 156.5% in the third quarter. Blue Trust Inc. now owns 3,902 shares of the company’s stock valued at $74,000 after purchasing an additional 2,381 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd grew its stake in Broadstone Net Lease by 18.7% in the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 40,914 shares of the company’s stock valued at $775,000 after purchasing an additional 6,459 shares in the last quarter. Finally, AlphaMark Advisors LLC acquired a new position in shares of Broadstone Net Lease during the 3rd quarter worth approximately $354,000. Institutional investors own 89.07% of the company’s stock.

Broadstone Net Lease Stock Performance

BNL opened at $18.35 on Friday. The firm’s fifty day moving average is $18.33 and its two-hundred day moving average is $16.66. The firm has a market cap of $3.46 billion, a PE ratio of 19.11 and a beta of 1.11. Broadstone Net Lease has a twelve month low of $13.68 and a twelve month high of $19.15.

Broadstone Net Lease (NYSE:BNL) last issued its quarterly earnings data on Tuesday, July 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 4.86% and a net margin of 36.78%. The business had revenue of $105.91 million for the quarter, compared to analyst estimates of $105.95 million. During the same period in the previous year, the business posted $0.35 EPS. Equities analysts forecast that Broadstone Net Lease will post 1.39 EPS for the current fiscal year.

Broadstone Net Lease Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were paid a dividend of $0.29 per share. The ex-dividend date of this dividend was Monday, September 30th. This represents a $1.16 annualized dividend and a dividend yield of 6.32%. Broadstone Net Lease’s dividend payout ratio is currently 120.83%.

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.