UBS Group Forecasts Strong Price Appreciation for Broadstone Net Lease (NYSE:BNL) Stock

Broadstone Net Lease (NYSE:BNL) had its price objective lifted by UBS Group from $16.00 to $17.00 in a research report released on Friday morning,Benzinga reports. The firm currently has a neutral rating on the stock.

Several other analysts also recently issued reports on the company. JMP Securities restated a “market outperform” rating and issued a $21.00 price objective on shares of Broadstone Net Lease in a research report on Monday, June 2nd. Wolfe Research upgraded Broadstone Net Lease from a “peer perform” rating to an “outperform” rating and set a $19.00 price objective on the stock in a research report on Monday, July 28th. Wall Street Zen upgraded Broadstone Net Lease from a “sell” rating to a “hold” rating in a research report on Sunday, August 3rd. Finally, Truist Financial increased their target price on Broadstone Net Lease from $17.00 to $18.00 and gave the stock a “hold” rating in a research report on Monday, May 5th. One analyst has rated the stock with a sell rating, three have given a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $18.71.

Broadstone Net Lease Stock Up 0.2%

Shares of NYSE:BNL opened at $16.75 on Friday. Broadstone Net Lease has a 52-week low of $13.96 and a 52-week high of $19.15. The stock’s fifty day simple moving average is $16.23 and its 200-day simple moving average is $16.16. The company has a market capitalization of $3.17 billion, a P/E ratio of 32.21 and a beta of 1.00.

Broadstone Net Lease Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Tuesday, September 30th will be given a dividend of $0.29 per share. The ex-dividend date is Tuesday, September 30th. This represents a $1.16 annualized dividend and a yield of 6.9%. Broadstone Net Lease’s dividend payout ratio is 223.08%.

Hedge Funds Weigh In On Broadstone Net Lease

Large investors have recently added to or reduced their stakes in the business. Rockefeller Capital Management L.P. lifted its position in Broadstone Net Lease by 3.9% during the fourth quarter. Rockefeller Capital Management L.P. now owns 23,826 shares of the company’s stock worth $378,000 after buying an additional 892 shares during the period. Lazard Asset Management LLC increased its stake in Broadstone Net Lease by 34.1% during the fourth quarter. Lazard Asset Management LLC now owns 76,592 shares of the company’s stock worth $1,214,000 after acquiring an additional 19,467 shares during the last quarter. GAMMA Investing LLC increased its stake in Broadstone Net Lease by 1,466.0% during the first quarter. GAMMA Investing LLC now owns 31,711 shares of the company’s stock worth $540,000 after acquiring an additional 29,686 shares during the last quarter. Meritage Portfolio Management increased its stake in Broadstone Net Lease by 33.9% during the first quarter. Meritage Portfolio Management now owns 386,997 shares of the company’s stock worth $6,594,000 after acquiring an additional 97,892 shares during the last quarter. Finally, Envestnet Asset Management Inc. increased its stake in Broadstone Net Lease by 20.6% during the first quarter. Envestnet Asset Management Inc. now owns 543,987 shares of the company’s stock worth $9,270,000 after acquiring an additional 92,909 shares during the last quarter. 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.