Broadstone Net Lease (NYSE:BNL) Shares Gap Down – Time to Sell?

Broadstone Net Lease, Inc. (NYSE:BNL)’s stock price gapped down before the market opened on Friday . The stock had previously closed at $15.86, but opened at $15.34. Broadstone Net Lease shares last traded at $15.97, with a volume of 625,227 shares traded.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on BNL shares. Citizens Jmp raised shares of Broadstone Net Lease from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, December 17th. UBS Group initiated coverage on Broadstone Net Lease in a research report on Thursday, November 14th. They set a “neutral” rating and a $18.00 price target for the company. The Goldman Sachs Group raised their price objective on Broadstone Net Lease from $14.50 to $16.00 and gave the stock a “sell” rating in a report on Friday, September 13th. Finally, JMP Securities upgraded Broadstone Net Lease from a “market perform” rating to an “outperform” rating and set a $21.00 target price for the company in a report on Tuesday, December 17th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $18.60.

Broadstone Net Lease Price Performance

The company has a market cap of $3.03 billion, a PE ratio of 21.15 and a beta of 1.10. The company has a 50-day moving average price of $17.45 and a two-hundred day moving average price of $17.34.

Broadstone Net Lease (NYSE:BNL) last released its quarterly 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 analysts’ expectations of $106.47 million. During the same quarter in the prior year, the company earned $0.36 EPS. On average, equities research analysts anticipate that Broadstone Net Lease, Inc. will post 1.39 earnings per share for the current year.

Broadstone Net Lease Announces Dividend

The company 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 is Tuesday, December 31st. This represents a $1.16 dividend on an annualized basis and a yield of 7.22%. Broadstone Net Lease’s dividend payout ratio is currently 152.63%.

Institutional Trading of Broadstone Net Lease

Several large investors have recently modified their holdings of the business. GAMMA Investing LLC boosted its stake in shares of Broadstone Net Lease by 257.5% during the 3rd 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 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 purchasing an additional 1,232 shares during the last quarter. Blue Trust Inc. boosted its stake in Broadstone Net Lease by 156.5% during the 3rd 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 during the period. US Bancorp DE grew 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 worth $75,000 after purchasing an additional 3,406 shares during the last quarter. Finally, KBC Group NV grew its position in Broadstone Net Lease by 29.4% in the 3rd 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 last quarter. 89.07% of the stock is currently owned by institutional investors and hedge funds.

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.