Broadstone Net Lease, Inc. (NYSE:BNL) Receives $18.20 Average PT from Brokerages

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

BNL has been the subject of several recent analyst reports. The Goldman Sachs Group increased their price target on Broadstone Net Lease from $14.50 to $16.00 and gave the stock a “sell” rating in a research note on Friday, September 13th. UBS Group initiated coverage on Broadstone Net Lease in a research note on Thursday, November 14th. They issued a “neutral” rating and a $18.00 price target for the company. Wedbush initiated coverage on Broadstone Net Lease in a research note on Monday, August 19th. They issued an “outperform” rating and a $20.00 price target for the company. Finally, Truist Financial increased their price target on Broadstone Net Lease from $16.00 to $18.00 and gave the stock a “hold” rating in a research note on Friday, August 16th.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Price T Rowe Associates Inc. MD boosted its position in shares of Broadstone Net Lease by 6.7% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 110,586 shares of the company’s stock valued at $1,733,000 after purchasing an additional 6,906 shares during the period. Comerica Bank boosted its position in shares of Broadstone Net Lease by 177.2% in the 1st quarter. Comerica Bank now owns 16,876 shares of the company’s stock valued at $264,000 after purchasing an additional 10,788 shares during the period. Wealth Enhancement Advisory Services LLC boosted its position in shares of Broadstone Net Lease by 5.7% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 392,061 shares of the company’s stock valued at $6,222,000 after purchasing an additional 21,160 shares during the period. Vanderbilt University boosted its position in shares of Broadstone Net Lease by 34.1% in the 2nd quarter. Vanderbilt University now owns 66,764 shares of the company’s stock valued at $1,060,000 after purchasing an additional 16,981 shares during the period. Finally, Apollon Wealth Management LLC boosted its position in shares of Broadstone Net Lease by 1.5% in the 2nd quarter. Apollon Wealth Management LLC now owns 255,648 shares of the company’s stock valued at $4,057,000 after purchasing an additional 3,862 shares during the period. Institutional investors own 89.07% of the company’s stock.

Broadstone Net Lease Price Performance

Shares of NYSE BNL opened at $17.20 on Friday. Broadstone Net Lease has a 1-year low of $14.20 and a 1-year high of $19.15. The business’s fifty day moving average price is $17.75 and its two-hundred day moving average price is $17.28. The firm has a market capitalization of $3.24 billion, a PE ratio of 22.63 and a beta of 1.10.

Broadstone Net Lease (NYSE:BNL) last issued its earnings results on Wednesday, October 30th. The company reported $0.19 earnings per share 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 company had revenue of $108.40 million during the quarter, compared to analyst estimates of $106.47 million. During the same period in the prior year, the business earned $0.36 earnings per share. Equities research analysts expect that Broadstone Net Lease will post 1.39 earnings per share for the current fiscal year.

Broadstone Net Lease Dividend Announcement

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 is Tuesday, December 31st. This represents a $1.16 annualized dividend and a yield of 6.74%. Broadstone Net Lease’s dividend payout ratio is currently 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.