UBS Group Initiates Coverage on Broadstone Net Lease (NYSE:BNL)

UBS Group started coverage on shares of Broadstone Net Lease (NYSE:BNL) in a report published on Thursday, MarketBeat reports. The firm issued a neutral rating and a $18.00 price target on the stock.

Other analysts also recently issued reports about the stock. Wedbush assumed coverage on shares of Broadstone Net Lease in a report on Monday, August 19th. They set an “outperform” rating and a $20.00 price target on the stock. Truist Financial increased their price objective on Broadstone Net Lease from $16.00 to $18.00 and gave the company a “hold” rating in a research note on Friday, August 16th. Finally, The Goldman Sachs Group raised their target price on shares of Broadstone Net Lease from $14.50 to $16.00 and gave the stock a “sell” rating in a research note on Friday, September 13th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $18.20.

Broadstone Net Lease Price Performance

BNL stock opened at $17.20 on Thursday. The firm’s fifty day simple moving average is $18.19 and its 200-day simple moving average is $17.07. The company has a market capitalization of $3.24 billion, a P/E ratio of 22.63 and a beta of 1.12. Broadstone Net Lease has a 12 month low of $14.20 and a 12 month high of $19.15.

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

Broadstone Net Lease Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be issued a $0.29 dividend. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $1.16 dividend on an annualized basis and a yield of 6.74%. Broadstone Net Lease’s dividend payout ratio (DPR) is presently 152.63%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Russell Investments Group Ltd. boosted its stake in shares of Broadstone Net Lease by 7.0% in the 1st quarter. Russell Investments Group Ltd. now owns 112,984 shares of the company’s stock valued at $1,770,000 after buying an additional 7,384 shares during the period. ProShare Advisors LLC lifted its stake in Broadstone Net Lease by 8.6% in the first quarter. ProShare Advisors LLC now owns 33,802 shares of the company’s stock worth $530,000 after acquiring an additional 2,677 shares during the last quarter. Prevail Innovative Wealth Advisors LLC acquired a new position in Broadstone Net Lease during the 1st quarter worth approximately $1,716,000. Vanguard Group Inc. increased its position in shares of Broadstone Net Lease by 0.6% in the 1st quarter. Vanguard Group Inc. now owns 27,962,340 shares of the company’s stock valued at $438,170,000 after purchasing an additional 178,102 shares during the last quarter. Finally, Allstate Corp lifted its position in shares of Broadstone Net Lease by 42.6% during the 1st quarter. Allstate Corp now owns 247,714 shares of the company’s stock worth $3,882,000 after purchasing an additional 74,048 shares during the last quarter. 89.07% of the stock is owned by institutional investors and hedge funds.

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.