UBS Group Cuts Broadstone Net Lease (NYSE:BNL) Price Target to $16.00

Broadstone Net Lease (NYSE:BNL) had its price target lowered by UBS Group from $17.00 to $16.00 in a research note issued to investors on Wednesday,Benzinga reports. UBS Group currently has a neutral rating on the stock.

Several other research firms have also commented on BNL. Truist Financial increased their target price on shares of Broadstone Net Lease from $17.00 to $18.00 and gave the company a “hold” rating in a report on Monday, May 5th. JMP Securities reissued a “market outperform” rating and set a $21.00 price target on shares of Broadstone Net Lease in a research report on Monday, June 2nd. Finally, BMO Capital Markets set a $20.00 price target on shares of Broadstone Net Lease and gave the company an “outperform” rating in a research report on Monday, March 24th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $18.50.

Broadstone Net Lease Stock Performance

BNL stock opened at $15.78 on Wednesday. Broadstone Net Lease has a 52 week low of $13.96 and a 52 week high of $19.15. The firm’s fifty day moving average is $16.04 and its 200 day moving average is $16.07. The firm has a market cap of $2.98 billion, a P/E ratio of 25.87 and a beta of 1.00.

Broadstone Net Lease Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th were given a $0.29 dividend. The ex-dividend date was Monday, June 30th. This represents a $1.16 annualized dividend and a dividend yield of 7.35%. Broadstone Net Lease’s dividend payout ratio is 190.16%.

Institutional Investors Weigh In On Broadstone Net Lease

Institutional investors and hedge funds have recently modified their holdings of the stock. Federated Hermes Inc. lifted its position in shares of Broadstone Net Lease by 73,833.3% in the 4th quarter. Federated Hermes Inc. now owns 2,218 shares of the company’s stock worth $35,000 after purchasing an additional 2,215 shares during the period. EverSource Wealth Advisors LLC lifted its position in shares of Broadstone Net Lease by 139.3% in the 4th quarter. EverSource Wealth Advisors LLC now owns 2,735 shares of the company’s stock worth $43,000 after purchasing an additional 1,592 shares during the period. Wolff Wiese Magana LLC bought a new position in shares of Broadstone Net Lease in the 2nd quarter worth about $45,000. Tower Research Capital LLC TRC increased its stake in shares of Broadstone Net Lease by 192.6% in the 4th 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. Finally, GF Fund Management CO. LTD. bought a new position in shares of Broadstone Net Lease in the 4th quarter worth about $54,000. 89.07% of the stock is 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.