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

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

BNL has been the topic of a number of recent analyst reports. Citizens Jmp raised shares of Broadstone Net Lease from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, December 17th. JMP Securities raised shares of Broadstone Net Lease from a “market perform” rating to an “outperform” rating and set a $21.00 target price on the stock in a research note on Tuesday, December 17th. Finally, UBS Group initiated coverage on shares of Broadstone Net Lease in a research note on Thursday, November 14th. They issued a “neutral” rating and a $18.00 target price on the stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Federated Hermes Inc. grew its position in 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 acquiring an additional 2,215 shares during the last quarter. EverSource Wealth Advisors LLC grew its holdings in shares of Broadstone Net Lease by 139.3% in the fourth 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 last quarter. Tower Research Capital LLC TRC grew its holdings in shares of 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 purchasing an additional 1,918 shares during the last quarter. GF Fund Management CO. LTD. bought a new position in shares of Broadstone Net Lease in the fourth quarter worth approximately $54,000. Finally, Quarry LP bought a new position in shares of Broadstone Net Lease in the fourth quarter worth approximately $57,000. 89.07% of the stock is currently owned by institutional investors.

Broadstone Net Lease Trading Up 0.7 %

Shares of Broadstone Net Lease stock opened at $16.65 on Thursday. Broadstone Net Lease has a 12-month low of $14.20 and a 12-month high of $19.15. The company has a market cap of $3.14 billion, a price-to-earnings ratio of 19.14 and a beta of 1.11. The company’s 50-day moving average price is $15.79 and its 200-day moving average price is $17.15.

Broadstone Net Lease (NYSE:BNL) last announced its earnings results on Wednesday, February 19th. The company reported $0.36 earnings per share for the quarter, beating analysts’ consensus estimates of $0.20 by $0.16. The business had revenue of $112.13 million for the quarter, compared to the consensus estimate of $109.80 million. Broadstone Net Lease had a net margin of 37.62% and a return on equity of 5.10%. On average, sell-side analysts predict that Broadstone Net Lease will post 1.43 earnings per share for the current year.

Broadstone Net Lease Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be given a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a yield of 6.97%. The ex-dividend date is Monday, March 31st. Broadstone Net Lease’s payout ratio is currently 133.33%.

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.