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

Broadstone Net Lease, Inc. (NYSE:BNL) has been assigned a consensus rating of “Hold” from the eight research firms that are currently covering the stock, MarketBeat reports. One research analyst has rated the stock with a sell rating, four have given a hold rating, two have issued a buy rating and one has issued a strong buy rating on the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $18.60.

A number of brokerages have weighed in on BNL. JMP Securities raised shares of Broadstone Net Lease from a “market perform” rating to an “outperform” rating and set a $21.00 target price on the stock in a report on Tuesday, December 17th. Citizens Jmp upgraded shares of Broadstone Net Lease from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, December 17th. The Goldman Sachs Group lifted their target price on 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, 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 on the stock.

Broadstone Net Lease Stock Down 0.6 %

Shares of Broadstone Net Lease stock opened at $15.61 on Wednesday. The business has a 50-day moving average price of $16.87 and a 200 day moving average price of $17.42. Broadstone Net Lease has a fifty-two week low of $14.20 and a fifty-two week high of $19.15. The firm has a market cap of $2.94 billion, a P/E ratio of 20.54 and a beta of 1.11.

Broadstone Net Lease (NYSE:BNL) last issued 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). The firm had revenue of $108.40 million during the quarter, compared to the consensus estimate of $106.47 million. Broadstone Net Lease had a net margin of 33.56% and a return on equity of 4.47%. During the same quarter last year, the firm posted $0.36 earnings per share. As a group, equities research analysts anticipate that Broadstone Net Lease will post 1.39 earnings per share for the current year.

Broadstone Net Lease Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be paid a $0.29 dividend. The ex-dividend date is Tuesday, December 31st. This represents a $1.16 annualized dividend and a dividend yield of 7.43%. Broadstone Net Lease’s payout ratio is currently 152.63%.

Hedge Funds Weigh In On Broadstone Net Lease

Several hedge funds and other institutional investors have recently made changes to their positions in the business. GAMMA Investing LLC increased its position in Broadstone Net Lease by 257.5% in the 3rd quarter. GAMMA Investing LLC now owns 1,766 shares of the company’s stock valued at $33,000 after acquiring an additional 1,272 shares during the period. Quarry LP grew its stake in shares of Broadstone Net Lease by 93.1% in the second quarter. Quarry LP now owns 2,556 shares of the company’s stock worth $41,000 after purchasing an additional 1,232 shares in the last quarter. Blue Trust Inc. increased its holdings in shares of Broadstone Net Lease by 156.5% during 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 during the period. US Bancorp DE increased its holdings in shares of Broadstone Net Lease by 636.6% during the third quarter. US Bancorp DE now owns 3,941 shares of the company’s stock valued at $75,000 after purchasing an additional 3,406 shares during the period. Finally, KBC Group NV raised its stake in shares of Broadstone Net Lease by 29.4% during the third 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 in 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.