Broadstone Net Lease (NYSE:BNL) Given Market Outperform Rating at JMP Securities

JMP Securities reiterated their market outperform rating on shares of Broadstone Net Lease (NYSE:BNL) in a research report released on Tuesday,Benzinga reports. JMP Securities currently has a $21.00 price objective on the stock.

Separately, BMO Capital Markets set a $20.00 price target on shares of Broadstone Net Lease and gave the stock an “outperform” rating in a research note on Monday, March 24th. One analyst has rated the stock with a sell rating, three have given a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $18.83.

Broadstone Net Lease Trading Up 0.4 %

Shares of NYSE:BNL opened at $16.03 on Tuesday. The company has a 50-day moving average price of $16.39 and a 200 day moving average price of $16.56. Broadstone Net Lease has a 12 month low of $13.96 and a 12 month high of $19.15. The company has a market cap of $3.03 billion, a price-to-earnings ratio of 18.43 and a beta of 1.03.

Broadstone Net Lease (NYSE:BNL) last released its earnings results on Wednesday, February 19th. The company reported $0.36 earnings per share for the quarter, beating the consensus estimate of $0.20 by $0.16. The firm had revenue of $112.13 million for the quarter, compared to the consensus estimate of $109.80 million. Broadstone Net Lease had a return on equity of 5.10% and a net margin of 37.62%. As a group, equities analysts forecast that Broadstone Net Lease will post 1.43 EPS for the current year.

Broadstone Net Lease Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st were paid a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a dividend yield of 7.24%. The ex-dividend date was Monday, March 31st. Broadstone Net Lease’s dividend payout ratio is presently 133.33%.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of BNL. Principal Financial Group Inc. increased its stake in shares of Broadstone Net Lease by 1.6% during the fourth quarter. Principal Financial Group Inc. now owns 14,276,250 shares of the company’s stock valued at $226,423,000 after buying an additional 227,833 shares during the period. Geode Capital Management LLC increased its position in Broadstone Net Lease by 0.3% during the 4th quarter. Geode Capital Management LLC now owns 4,860,444 shares of the company’s stock valued at $77,103,000 after purchasing an additional 15,501 shares during the period. Centersquare Investment Management LLC raised its holdings in shares of Broadstone Net Lease by 7.1% in the 4th quarter. Centersquare Investment Management LLC now owns 4,011,419 shares of the company’s stock valued at $63,621,000 after purchasing an additional 265,428 shares in the last quarter. Aew Capital Management L P boosted its stake in shares of Broadstone Net Lease by 2.3% during the fourth quarter. Aew Capital Management L P now owns 3,135,949 shares of the company’s stock valued at $49,736,000 after purchasing an additional 69,690 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in Broadstone Net Lease by 2.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,077,513 shares of the company’s stock valued at $48,809,000 after buying an additional 71,709 shares during the period. 89.07% of the stock is currently owned by hedge funds and other institutional investors.

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.