Brokerages Set Broadstone Net Lease, Inc. (NYSE:BNL) Price Target at $19.89

Shares of Broadstone Net Lease, Inc. (NYSE:BNL) have been given a consensus rating of “Moderate Buy” by the eleven ratings firms that are presently covering the stock, Marketbeat Ratings reports. Three research analysts have rated the stock with a hold recommendation, seven have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $19.8889.

Several research firms have recently weighed in on BNL. Wall Street Zen raised Broadstone Net Lease from a “sell” rating to a “hold” rating in a research report on Friday, October 3rd. Wolfe Research raised shares of Broadstone Net Lease from a “peer perform” rating to an “outperform” rating and set a $19.00 price target for the company in a report on Monday, July 28th. UBS Group boosted their price objective on shares of Broadstone Net Lease from $16.00 to $17.00 and gave the stock a “neutral” rating in a report on Friday, August 15th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Broadstone Net Lease in a research note on Wednesday, October 8th. Finally, The Goldman Sachs Group upgraded Broadstone Net Lease from a “sell” rating to a “buy” rating and set a $21.00 price target on the stock in a research note on Thursday, August 21st.

Institutional Investors Weigh In On Broadstone Net Lease

Institutional investors and hedge funds have recently bought and sold shares of the business. Balyasny Asset Management L.P. boosted its position in shares of Broadstone Net Lease by 213.2% during the 2nd quarter. Balyasny Asset Management L.P. now owns 4,335,166 shares of the company’s stock valued at $69,579,000 after acquiring an additional 2,951,207 shares in the last quarter. Norges Bank bought a new position in Broadstone Net Lease during the second quarter worth about $39,554,000. Nuveen LLC bought a new position in Broadstone Net Lease during the first quarter worth about $28,127,000. Boston Partners boosted its holdings in Broadstone Net Lease by 339.0% during the second quarter. Boston Partners now owns 2,079,251 shares of the company’s stock valued at $33,372,000 after purchasing an additional 1,605,603 shares in the last quarter. Finally, Van Lanschot Kempen Investment Management N.V. bought a new stake in shares of Broadstone Net Lease in the 1st quarter valued at approximately $11,646,000. Institutional investors own 89.07% of the company’s stock.

Broadstone Net Lease Stock Up 0.2%

Shares of NYSE:BNL opened at $18.60 on Friday. The company has a market cap of $3.52 billion, a price-to-earnings ratio of 35.76 and a beta of 1.00. The business has a 50 day moving average price of $18.14 and a 200 day moving average price of $16.75. Broadstone Net Lease has a twelve month low of $13.96 and a twelve month high of $18.85.

Broadstone Net Lease Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, October 15th. Investors of record on Tuesday, September 30th were given a $0.29 dividend. This represents a $1.16 annualized dividend and a yield of 6.2%. The ex-dividend date of this dividend was Tuesday, September 30th. Broadstone Net Lease’s dividend payout ratio (DPR) is 223.08%.

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.