Broadstone Net Lease, Inc. (NYSE:BNL) Given Consensus Rating of “Hold” by Analysts

Broadstone Net Lease, Inc. (NYSE:BNL) has received a consensus recommendation of “Hold” from the nine brokerages that are covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, three have given a buy rating and one has given a strong buy rating to the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $18.83.

BNL has been the subject of a number of research reports. JMP Securities raised 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. Citizens Jmp raised Broadstone Net Lease from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, December 17th. Finally, BMO Capital Markets set a $20.00 price target on shares of Broadstone Net Lease and gave the stock an “outperform” rating in a report on Monday.

Broadstone Net Lease Price Performance

NYSE BNL traded up $0.26 on Wednesday, reaching $17.06. The stock had a trading volume of 2,144,669 shares, compared to its average volume of 1,198,197. Broadstone Net Lease has a 1-year low of $14.20 and a 1-year high of $19.15. The company has a market cap of $3.22 billion, a P/E ratio of 19.59 and a beta of 1.09. The firm has a fifty day moving average of $16.23 and a two-hundred day moving average of $17.01.

Broadstone Net Lease (NYSE:BNL) last released its earnings results on Wednesday, February 19th. The company reported $0.36 EPS for the quarter, beating the consensus estimate of $0.20 by $0.16. The firm had revenue of $112.13 million for the quarter, compared to analyst estimates of $109.80 million. Broadstone Net Lease had a net margin of 37.62% and a return on equity of 5.10%. Research analysts predict that Broadstone Net Lease will post 1.43 EPS for the current fiscal year.

Broadstone Net Lease Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be given a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a yield of 6.80%. The ex-dividend date is Monday, March 31st. Broadstone Net Lease’s payout ratio is presently 133.33%.

Institutional Trading of Broadstone Net Lease

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. State of Alaska Department of Revenue increased its position in shares of Broadstone Net Lease by 1.0% during the fourth quarter. State of Alaska Department of Revenue now owns 90,318 shares of the company’s stock valued at $1,432,000 after buying an additional 882 shares during the period. Cerity Partners LLC raised its position in shares of Broadstone Net Lease by 2.2% in the 3rd quarter. Cerity Partners LLC now owns 40,480 shares of the company’s stock worth $767,000 after acquiring an additional 886 shares in the last quarter. Rockefeller Capital Management L.P. lifted its stake in shares of Broadstone Net Lease by 3.9% in the 4th quarter. Rockefeller Capital Management L.P. now owns 23,826 shares of the company’s stock valued at $378,000 after purchasing an additional 892 shares during the period. Corient Private Wealth LLC boosted its position in shares of Broadstone Net Lease by 2.2% during the fourth quarter. Corient Private Wealth LLC now owns 41,892 shares of the company’s stock valued at $664,000 after purchasing an additional 907 shares in the last quarter. Finally, Blue Trust Inc. raised its holdings in Broadstone Net Lease by 23.7% in the fourth quarter. Blue Trust Inc. now owns 4,827 shares of the company’s stock worth $77,000 after purchasing an additional 925 shares in the last quarter. Hedge funds and other institutional investors own 89.07% of the company’s stock.

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.