Broadstone Net Lease, Inc. (NYSE:BNL) Given Consensus Rating of “Moderate Buy” by Analysts

Broadstone Net Lease, Inc. (NYSE:BNL) has been assigned a consensus rating of “Moderate Buy” from the seven ratings firms that are currently covering the stock, Marketbeat reports. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $18.67.

Several equities analysts have recently issued reports on the company. UBS Group reduced their target price on Broadstone Net Lease from $18.00 to $17.00 and set a “neutral” rating on the stock in a research note on Tuesday, May 13th. BMO Capital Markets set a $20.00 price objective on shares of Broadstone Net Lease and gave the company an “outperform” rating in a research report on Monday, March 24th. JMP Securities reaffirmed a “market outperform” rating and issued a $21.00 target price on shares of Broadstone Net Lease in a research report on Monday, June 2nd. Finally, Truist Financial lifted their target price on shares of Broadstone Net Lease from $17.00 to $18.00 and gave the company a “hold” rating in a research note on Monday, May 5th.

Hedge Funds Weigh In On Broadstone Net Lease

Institutional investors have recently added to or reduced their stakes in the company. Federated Hermes Inc. increased its stake in shares of Broadstone Net Lease by 73,833.3% during the fourth quarter. Federated Hermes Inc. now owns 2,218 shares of the company’s stock valued at $35,000 after purchasing an additional 2,215 shares in the last quarter. EverSource Wealth Advisors LLC increased its position in Broadstone Net Lease by 139.3% during the 4th quarter. EverSource Wealth Advisors LLC now owns 2,735 shares of the company’s stock valued at $43,000 after buying an additional 1,592 shares in the last quarter. Tower Research Capital LLC TRC boosted its holdings in Broadstone Net Lease by 192.6% in the fourth quarter. Tower Research Capital LLC TRC now owns 2,914 shares of the company’s stock worth $46,000 after acquiring an additional 1,918 shares in the last quarter. GF Fund Management CO. LTD. bought a new stake in Broadstone Net Lease in the fourth quarter worth $54,000. Finally, Quarry LP purchased a new stake in shares of Broadstone Net Lease in the fourth quarter worth $57,000. Institutional investors own 89.07% of the company’s stock.

Broadstone Net Lease Price Performance

Shares of NYSE:BNL opened at $16.34 on Friday. Broadstone Net Lease has a 1 year low of $13.96 and a 1 year high of $19.15. The stock’s 50-day moving average is $16.07 and its 200 day moving average is $16.08. The company has a market cap of $3.09 billion, a PE ratio of 26.79 and a beta of 1.00.

Broadstone Net Lease Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Monday, June 30th will be given a dividend of $0.29 per share. The ex-dividend date of this dividend is Monday, June 30th. This represents a $1.16 annualized dividend and a dividend yield of 7.10%. Broadstone Net Lease’s dividend payout ratio is presently 190.16%.

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.