Brokerages Set Broadstone Net Lease, Inc. (NYSE:BNL) PT at $18.83

Broadstone Net Lease, Inc. (NYSE:BNL) has been assigned a consensus rating of “Hold” from the nine ratings firms that are presently covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, three have given a buy rating and one has given a strong buy rating to the company. The average 1-year price target among brokerages that have covered the stock in the last year is $18.83.

A number of analysts recently weighed in on BNL shares. Citizens Jmp raised shares of Broadstone Net Lease from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, December 17th. BMO Capital Markets set a $20.00 price objective on Broadstone Net Lease and gave the company an “outperform” rating in a report on Monday. Finally, JMP Securities raised Broadstone Net Lease from a “market perform” rating to an “outperform” rating and set a $21.00 target price for the company in a report on Tuesday, December 17th.

Institutional Investors Weigh In On Broadstone Net Lease

Hedge funds and other institutional investors have recently bought and sold shares of the business. State of Alaska Department of Revenue lifted its stake in shares of Broadstone Net Lease by 1.0% during the fourth quarter. State of Alaska Department of Revenue now owns 90,318 shares of the company’s stock valued at $1,432,000 after acquiring an additional 882 shares during the period. Cerity Partners LLC raised its holdings in Broadstone Net Lease by 2.2% during the 3rd quarter. Cerity Partners LLC now owns 40,480 shares of the company’s stock worth $767,000 after purchasing an additional 886 shares during the last quarter. Rockefeller Capital Management L.P. raised its holdings in Broadstone Net Lease by 3.9% during the 4th quarter. Rockefeller Capital Management L.P. now owns 23,826 shares of the company’s stock worth $378,000 after purchasing an additional 892 shares during the last quarter. Corient Private Wealth LLC lifted its position in Broadstone Net Lease by 2.2% during the 4th quarter. Corient Private Wealth LLC now owns 41,892 shares of the company’s stock valued at $664,000 after purchasing an additional 907 shares during the period. Finally, Blue Trust Inc. boosted its stake in shares of Broadstone Net Lease by 23.7% in the 4th quarter. Blue Trust Inc. now owns 4,827 shares of the company’s stock valued at $77,000 after purchasing an additional 925 shares during the last quarter. 89.07% of the stock is owned by institutional investors and hedge funds.

Broadstone Net Lease Stock Down 0.5 %

Broadstone Net Lease stock opened at $16.97 on Wednesday. The business has a 50 day moving average price of $16.31 and a two-hundred day moving average price of $17.00. Broadstone Net Lease has a 12 month low of $14.21 and a 12 month high of $19.15. The stock has a market cap of $3.20 billion, a price-to-earnings ratio of 19.50 and a beta of 1.09.

Broadstone Net Lease (NYSE:BNL) last issued its earnings results on Wednesday, February 19th. The company reported $0.36 EPS for the quarter, beating analysts’ consensus estimates of $0.20 by $0.16. Broadstone Net Lease had a return on equity of 5.10% and a net margin of 37.62%. The business had revenue of $112.13 million during the quarter, compared to analyst estimates of $109.80 million. On average, analysts expect that Broadstone Net Lease will post 1.43 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 Tuesday, April 15th. Stockholders of record on Monday, March 31st will be paid a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a dividend yield of 6.84%. The ex-dividend date is Monday, March 31st. Broadstone Net Lease’s dividend payout ratio (DPR) is currently 133.33%.

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.