Brokerages Set Broadstone Net Lease, Inc. (NYSE:BNL) PT at $19.89

Shares of Broadstone Net Lease, Inc. (NYSE:BNL) have received a consensus rating of “Moderate Buy” from the eleven research firms that are presently covering the firm, MarketBeat reports. Three research analysts have rated the stock with a hold recommendation, seven have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $19.8889.

A number of brokerages have recently weighed in on BNL. Weiss Ratings reiterated a “hold (c+)” rating on shares of Broadstone Net Lease in a report on Wednesday, October 8th. KeyCorp raised Broadstone Net Lease from a “sector weight” rating to an “overweight” rating and set a $20.00 price objective for the company in a research report on Tuesday, August 19th. UBS Group lifted their price objective on Broadstone Net Lease from $16.00 to $17.00 and gave the company a “neutral” rating in a research report on Friday, August 15th. Wall Street Zen raised Broadstone Net Lease from a “sell” rating to a “hold” rating in a research report on Friday, October 3rd. Finally, Cantor Fitzgerald assumed coverage on Broadstone Net Lease in a research report on Wednesday, October 1st. They set an “overweight” rating and a $21.00 price objective for the company.

Hedge Funds Weigh In On Broadstone Net Lease

Several large investors have recently made changes to their positions in the business. Wolff Wiese Magana LLC bought a new position in Broadstone Net Lease during the second quarter valued at about $45,000. EverSource Wealth Advisors LLC increased its stake in Broadstone Net Lease by 80.9% during the second quarter. EverSource Wealth Advisors LLC now owns 4,261 shares of the company’s stock valued at $68,000 after acquiring an additional 1,906 shares during the period. BI Asset Management Fondsmaeglerselskab A S bought a new position in Broadstone Net Lease during the first quarter valued at about $115,000. CWM LLC increased its stake in Broadstone Net Lease by 885.2% during the second quarter. CWM LLC now owns 7,773 shares of the company’s stock valued at $125,000 after acquiring an additional 6,984 shares during the period. Finally, EMC Capital Management bought a new stake in shares of Broadstone Net Lease in the 2nd quarter valued at approximately $127,000. Institutional investors and hedge funds own 89.07% of the company’s stock.

Broadstone Net Lease Stock Performance

BNL opened at $18.32 on Friday. The company has a market capitalization of $3.46 billion, a PE ratio of 35.23 and a beta of 1.00. The stock’s fifty day moving average is $18.03 and its 200-day moving average is $16.72. Broadstone Net Lease has a one year low of $13.96 and a one year high of $18.85.

Broadstone Net Lease Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Tuesday, September 30th will be given a $0.29 dividend. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 6.3%. Broadstone Net Lease’s payout ratio is currently 223.08%.

About Broadstone Net Lease

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.