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

Broadstone Net Lease, Inc. (NYSE:BNL) has received a consensus recommendation of “Hold” from the seven research firms that are covering the company, Marketbeat reports. One research analyst has rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the company. The average 1-year target price among brokerages that have covered the stock in the last year is $18.20.

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

Institutional Investors Weigh In On Broadstone Net Lease

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. GAMMA Investing LLC lifted its position in Broadstone Net Lease by 257.5% during the third quarter. GAMMA Investing LLC now owns 1,766 shares of the company’s stock valued at $33,000 after buying an additional 1,272 shares during the period. Quarry LP lifted its position in Broadstone Net Lease by 93.1% during the 2nd quarter. Quarry LP now owns 2,556 shares of the company’s stock valued at $41,000 after acquiring an additional 1,232 shares during the period. Blue Trust Inc. boosted its stake in Broadstone Net Lease by 156.5% during the third quarter. Blue Trust Inc. now owns 3,902 shares of the company’s stock worth $74,000 after acquiring an additional 2,381 shares in the last quarter. US Bancorp DE boosted its stake in Broadstone Net Lease by 636.6% during the third quarter. US Bancorp DE now owns 3,941 shares of the company’s stock worth $75,000 after acquiring an additional 3,406 shares in the last quarter. Finally, KBC Group NV grew its holdings in Broadstone Net Lease by 29.4% in the third quarter. KBC Group NV now owns 6,220 shares of the company’s stock worth $118,000 after purchasing an additional 1,413 shares during the period. 89.07% of the stock is owned by hedge funds and other institutional investors.

Broadstone Net Lease Stock Performance

Shares of NYSE:BNL opened at $17.20 on Tuesday. The firm has a market capitalization of $3.24 billion, a PE ratio of 22.63 and a beta of 1.12. Broadstone Net Lease has a 52-week low of $14.20 and a 52-week high of $19.15. The firm has a fifty day moving average of $18.19 and a 200 day moving average of $17.05.

Broadstone Net Lease (NYSE:BNL) last posted its quarterly 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 analysts’ expectations of $106.47 million. During the same period last year, the business posted $0.36 earnings per share. On average, sell-side analysts forecast that Broadstone Net Lease will post 1.39 EPS for the current fiscal year.

Broadstone Net Lease Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be issued a $0.29 dividend. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $1.16 annualized dividend and a yield of 6.74%. Broadstone Net Lease’s dividend payout ratio (DPR) is presently 152.63%.

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.