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

Shares of Broadstone Net Lease, Inc. (NYSE:BNL) have earned a consensus recommendation of “Hold” from the seven analysts that are currently covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, four have given a hold recommendation and two have given a buy recommendation to the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $18.20.

Several analysts have commented on BNL shares. Wedbush began coverage on Broadstone Net Lease in a research note on Monday, August 19th. They set an “outperform” rating and a $20.00 target price 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 report on Friday, August 16th. The Goldman Sachs Group boosted their target price on Broadstone Net Lease from $14.50 to $16.00 and gave the stock a “sell” rating in a research report on Friday, September 13th. Finally, UBS Group assumed coverage on shares of Broadstone Net Lease in a report on Thursday. They set a “neutral” rating and a $18.00 price target on the stock.

Broadstone Net Lease Price Performance

Shares of Broadstone Net Lease stock opened at $17.20 on Tuesday. Broadstone Net Lease has a 1 year low of $14.20 and a 1 year high of $19.15. The firm’s 50-day moving average is $18.19 and its 200 day moving average is $17.05. The stock has a market cap of $3.24 billion, a price-to-earnings ratio of 22.63 and a beta of 1.12.

Broadstone Net Lease (NYSE:BNL) last issued its earnings results 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 return on equity of 4.47% and a net margin of 33.56%. The firm had revenue of $108.40 million during the quarter, compared to the consensus estimate of $106.47 million. During the same quarter in the prior year, the company posted $0.36 EPS. On average, equities analysts expect that Broadstone Net Lease will post 1.39 EPS for the current fiscal year.

Broadstone Net Lease Announces Dividend

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

Hedge Funds Weigh In On Broadstone Net Lease

Several large investors have recently added to or reduced their stakes in BNL. GAMMA Investing LLC increased its stake in shares of Broadstone Net Lease by 257.5% in the third quarter. GAMMA Investing LLC now owns 1,766 shares of the company’s stock worth $33,000 after purchasing an additional 1,272 shares in the last quarter. Quarry LP boosted its holdings in Broadstone Net Lease by 93.1% in the 2nd quarter. Quarry LP now owns 2,556 shares of the company’s stock worth $41,000 after buying an additional 1,232 shares during the period. Blue Trust Inc. increased its stake in Broadstone Net Lease by 156.5% in the 3rd quarter. Blue Trust Inc. now owns 3,902 shares of the company’s stock worth $74,000 after buying an additional 2,381 shares in the last quarter. US Bancorp DE raised its holdings in Broadstone Net Lease by 636.6% during the third quarter. US Bancorp DE now owns 3,941 shares of the company’s stock valued at $75,000 after acquiring an additional 3,406 shares during the period. Finally, KBC Group NV lifted its position in shares of Broadstone Net Lease by 29.4% in the third quarter. KBC Group NV now owns 6,220 shares of the company’s stock valued at $118,000 after acquiring an additional 1,413 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.