Broadstone Net Lease, Inc. (NYSE:BNL) Receives Consensus Recommendation of “Hold” from Brokerages

Shares of Broadstone Net Lease, Inc. (NYSE:BNL) have been assigned an average rating of “Hold” from the eight analysts that are presently covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, four have issued a hold recommendation, two have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $18.60.

A number of research analysts recently commented on BNL shares. The Goldman Sachs Group upped their target price on Broadstone Net Lease from $14.50 to $16.00 and gave the company a “sell” rating in a research note on Friday, September 13th. JMP Securities upgraded shares of Broadstone Net Lease from a “market perform” rating to an “outperform” rating and set a $21.00 price objective for the company in a research note on Tuesday, December 17th. UBS Group assumed coverage on shares of Broadstone Net Lease in a research report on Thursday, November 14th. They set a “neutral” rating and a $18.00 target price on the stock. Finally, Citizens Jmp raised shares of Broadstone Net Lease from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, December 17th.

Broadstone Net Lease Price Performance

Shares of Broadstone Net Lease stock opened at $15.86 on Wednesday. The company has a market cap of $2.99 billion, a PE ratio of 20.87 and a beta of 1.10. The firm has a fifty day moving average price of $17.15 and a two-hundred day moving average price of $17.41. Broadstone Net Lease has a fifty-two week low of $14.20 and a fifty-two week high of $19.15.

Broadstone Net Lease (NYSE:BNL) last released its earnings results on Wednesday, October 30th. The company reported $0.19 earnings per share for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.15). The firm had revenue of $108.40 million for the quarter, compared to analyst estimates of $106.47 million. Broadstone Net Lease had a return on equity of 4.47% and a net margin of 33.56%. During the same period last year, the business earned $0.36 earnings per share. Analysts expect that Broadstone Net Lease will post 1.39 earnings per share for the current fiscal year.

Broadstone Net Lease Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be issued a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a dividend yield of 7.31%. The ex-dividend date is Tuesday, December 31st. Broadstone Net Lease’s payout ratio is 152.63%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. JPMorgan Chase & Co. raised its position in Broadstone Net Lease by 4.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,834,413 shares of the company’s stock valued at $34,762,000 after purchasing an additional 84,509 shares during the last quarter. Franklin Resources Inc. raised its holdings in shares of Broadstone Net Lease by 66.8% in the third quarter. Franklin Resources Inc. now owns 574,124 shares of the company’s stock valued at $10,512,000 after buying an additional 229,874 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Broadstone Net Lease by 1.3% in the third quarter. Geode Capital Management LLC now owns 4,844,943 shares of the company’s stock valued at $91,827,000 after buying an additional 62,515 shares during the last quarter. Barclays PLC lifted its position in Broadstone Net Lease by 131.1% during the 3rd quarter. Barclays PLC now owns 318,142 shares of the company’s stock worth $6,028,000 after buying an additional 180,456 shares in the last quarter. Finally, Public Employees Retirement System of Ohio grew its holdings in Broadstone Net Lease by 0.9% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 270,542 shares of the company’s stock worth $5,127,000 after acquiring an additional 2,387 shares during the last quarter. 89.07% of the stock is owned by institutional investors and hedge funds.

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.