Broadstone Net Lease (NYSE:BNL) Upgraded at JMP Securities

JMP Securities upgraded shares of Broadstone Net Lease (NYSE:BNL) from a market perform rating to an outperform rating in a report published on Tuesday, Marketbeat.com reports. The firm currently has $21.00 price objective on the stock.

A number of other equities research analysts also recently weighed in on the company. UBS Group started coverage on Broadstone Net Lease in a research report on Thursday, November 14th. They set a “neutral” rating and a $18.00 target price for the company. The Goldman Sachs Group raised their target price on shares of Broadstone Net Lease from $14.50 to $16.00 and gave the company a “sell” rating in a research note on Friday, September 13th. Finally, Wedbush started coverage on shares of Broadstone Net Lease in a report on Monday, August 19th. They issued an “outperform” rating and a $20.00 price objective on the stock. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $18.67.

Broadstone Net Lease Stock Performance

Shares of BNL stock opened at $16.78 on Tuesday. Broadstone Net Lease has a 52 week low of $14.20 and a 52 week high of $19.15. The stock has a market capitalization of $3.16 billion, a PE ratio of 22.07 and a beta of 1.10. The stock’s fifty day moving average is $17.58 and its 200-day moving average is $17.35.

Broadstone Net Lease (NYSE:BNL) last announced its earnings results on Wednesday, October 30th. The company reported $0.19 earnings per share for the quarter, missing analysts’ consensus estimates 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 company had revenue of $108.40 million during the quarter, compared to the consensus estimate of $106.47 million. During the same period in the prior year, the firm posted $0.36 earnings per share. As a group, analysts forecast that Broadstone Net Lease will post 1.39 earnings per share for the current fiscal year.

Broadstone Net Lease Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be given a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a dividend yield of 6.92%. The ex-dividend date of this dividend is Tuesday, December 31st. Broadstone Net Lease’s dividend payout ratio is currently 152.63%.

Institutional Investors Weigh In On Broadstone Net Lease

Large investors have recently modified their holdings of the business. GAMMA Investing LLC increased its position in shares of 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 lifted its position in Broadstone Net Lease by 93.1% in 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 in the last quarter. Blue Trust Inc. boosted its stake in Broadstone Net Lease by 156.5% in the 3rd quarter. Blue Trust Inc. now owns 3,902 shares of the company’s stock worth $74,000 after purchasing an additional 2,381 shares during the period. US Bancorp DE increased its holdings in Broadstone Net Lease by 636.6% during the 3rd quarter. US Bancorp DE now owns 3,941 shares of the company’s stock worth $75,000 after purchasing an additional 3,406 shares in the last quarter. Finally, KBC Group NV raised its stake in shares of Broadstone Net Lease by 29.4% in the 3rd quarter. KBC Group NV now owns 6,220 shares of the company’s stock valued at $118,000 after purchasing an additional 1,413 shares during the period. 89.07% of the stock is currently owned by institutional investors.

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.