Broadstone Net Lease, Inc. (NYSE:BNL) Short Interest Update

Broadstone Net Lease, Inc. (NYSE:BNL) was the target of a large growth in short interest in November. As of November 30th, there was short interest totalling 3,890,000 shares, a growth of 5.7% from the November 15th total of 3,680,000 shares. Based on an average daily trading volume, of 1,030,000 shares, the days-to-cover ratio is presently 3.8 days. Currently, 2.1% of the company’s stock are sold short.

Hedge Funds Weigh In On Broadstone Net Lease

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Apollon Wealth Management LLC increased its holdings in shares of Broadstone Net Lease by 1.5% in the second quarter. Apollon Wealth Management LLC now owns 255,648 shares of the company’s stock valued at $4,057,000 after purchasing an additional 3,862 shares during the period. Bank of New York Mellon Corp increased its holdings in Broadstone Net Lease by 3.2% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,767,296 shares of the company’s stock worth $28,047,000 after buying an additional 54,885 shares during the period. Legato Capital Management LLC purchased a new position in Broadstone Net Lease during the 2nd quarter worth approximately $1,404,000. HB Wealth Management LLC lifted its stake in Broadstone Net Lease by 4.8% during the 2nd quarter. HB Wealth Management LLC now owns 21,178 shares of the company’s stock valued at $336,000 after acquiring an additional 967 shares during the period. Finally, Sumitomo Mitsui DS Asset Management Company Ltd boosted its holdings in shares of Broadstone Net Lease by 3.5% in the 2nd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 34,455 shares of the company’s stock valued at $547,000 after acquiring an additional 1,163 shares during the last quarter. Hedge funds and other institutional investors own 89.07% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on BNL. Wedbush started coverage on shares of Broadstone Net Lease in a research note on Monday, August 19th. They issued an “outperform” rating and a $20.00 price objective for the company. UBS Group initiated coverage on shares of Broadstone Net Lease in a research report on Thursday, November 14th. They issued a “neutral” rating and a $18.00 price target for the company. Finally, The Goldman Sachs Group lifted their price objective on shares of Broadstone Net Lease from $14.50 to $16.00 and gave the company a “sell” rating in a report on Friday, September 13th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, Broadstone Net Lease presently has a consensus rating of “Hold” and a consensus target price of $18.20.

Broadstone Net Lease Price Performance

Broadstone Net Lease stock opened at $16.90 on Monday. Broadstone Net Lease has a 1-year low of $14.20 and a 1-year high of $19.15. The business has a fifty day moving average price of $17.63 and a 200-day moving average price of $17.33. The stock has a market capitalization of $3.19 billion, a price-to-earnings ratio of 22.24 and a beta of 1.10.

Broadstone Net Lease (NYSE:BNL) last posted its quarterly earnings data on Wednesday, October 30th. The company reported $0.19 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.34 by ($0.15). Broadstone Net Lease had a net margin of 33.56% and a return on equity of 4.47%. The company had revenue of $108.40 million for the quarter, compared to analyst estimates of $106.47 million. During the same quarter last year, the company earned $0.36 EPS. On average, equities research analysts anticipate that Broadstone Net Lease will post 1.39 earnings per share for the current fiscal year.

Broadstone Net Lease Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be given a $0.29 dividend. This represents a $1.16 annualized dividend and a dividend yield of 6.86%. The ex-dividend date of this dividend is Tuesday, December 31st. Broadstone Net Lease’s payout ratio is 152.63%.

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.