Broadstone Net Lease (NYSE:BNL) Cut to “Sell” at Wall Street Zen

Wall Street Zen downgraded shares of Broadstone Net Lease (NYSE:BNL) from a hold rating to a sell rating in a report released on Saturday.

Other equities research analysts have also recently issued reports about the company. Truist Financial increased their price objective on Broadstone Net Lease from $17.00 to $18.00 and gave the company a “hold” rating in a research report on Monday, May 5th. JMP Securities reissued a “market outperform” rating and issued a $21.00 price target on shares of Broadstone Net Lease in a report on Monday, June 2nd. Finally, UBS Group decreased their price target on shares of Broadstone Net Lease from $17.00 to $16.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 16th. Two analysts have rated the stock with a sell rating, two have issued a hold rating, four have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $18.57.

Broadstone Net Lease Stock Down 0.6%

BNL opened at $15.78 on Friday. The stock’s 50 day moving average price is $16.01 and its two-hundred day moving average price is $16.09. The firm has a market capitalization of $2.98 billion, a P/E ratio of 25.87 and a beta of 1.00. Broadstone Net Lease has a 12-month low of $13.96 and a 12-month high of $19.15.

Broadstone Net Lease Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th were paid a dividend of $0.29 per share. The ex-dividend date was Monday, June 30th. This represents a $1.16 dividend on an annualized basis and a yield of 7.35%. Broadstone Net Lease’s dividend payout ratio is currently 190.16%.

Institutional Investors Weigh In On Broadstone Net Lease

Institutional investors and hedge funds have recently bought and sold shares of the business. Federated Hermes Inc. boosted its position in shares of Broadstone Net Lease by 73,833.3% during the 4th 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 in the last quarter. Wolff Wiese Magana LLC bought a new position in Broadstone Net Lease during the second quarter worth about $45,000. Tower Research Capital LLC TRC boosted its holdings in Broadstone Net Lease by 192.6% during the fourth quarter. Tower Research Capital LLC TRC now owns 2,914 shares of the company’s stock valued at $46,000 after purchasing an additional 1,918 shares in the last quarter. GF Fund Management CO. LTD. bought a new stake in shares of Broadstone Net Lease in the 4th quarter valued at approximately $54,000. Finally, Quarry LP acquired a new position in shares of Broadstone Net Lease in the 4th quarter worth approximately $57,000. 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.