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

Broadstone Net Lease, Inc. (NYSE:BNL) has earned a consensus recommendation of “Hold” from the seven ratings firms that are covering the firm, Marketbeat reports. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $18.20.

BNL has been the subject of several recent analyst reports. Wedbush initiated coverage on shares of Broadstone Net Lease in a research report on Monday, August 19th. They set an “outperform” rating and a $20.00 price objective for the company. Truist Financial raised their price objective on shares of Broadstone Net Lease from $16.00 to $18.00 and gave the stock a “hold” rating in a research report on Friday, August 16th. The Goldman Sachs Group lifted their price target on shares of Broadstone Net Lease from $14.50 to $16.00 and gave the company a “sell” rating in a research report on Friday, September 13th. Finally, UBS Group started coverage on shares of Broadstone Net Lease in a research report on Thursday, November 14th. They set a “neutral” rating and a $18.00 price target for the company.

Broadstone Net Lease Stock Down 0.8 %

Shares of NYSE BNL opened at $17.07 on Tuesday. The firm has a 50-day simple moving average of $18.17 and a 200-day simple moving average of $17.08. The stock has a market capitalization of $3.22 billion, a price-to-earnings ratio of 22.46 and a beta of 1.12. Broadstone Net Lease has a 52 week low of $14.20 and a 52 week high of $19.15.

Broadstone Net Lease (NYSE:BNL) last released its quarterly earnings data 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 for the quarter, compared to analyst estimates of $106.47 million. During the same quarter in the previous year, the business posted $0.36 earnings per share. As a group, equities research analysts expect that Broadstone Net Lease will post 1.39 EPS for the current year.

Broadstone Net Lease Announces Dividend

The firm 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 6.80%. The ex-dividend date of this dividend is Tuesday, December 31st. Broadstone Net Lease’s payout ratio is 152.63%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Prevail Innovative Wealth Advisors LLC purchased a new position in Broadstone Net Lease in the first quarter worth approximately $1,716,000. Legato Capital Management LLC purchased a new position in Broadstone Net Lease in the second quarter worth approximately $1,404,000. Sei Investments Co. lifted its stake in Broadstone Net Lease by 20.8% in the second quarter. Sei Investments Co. now owns 545,556 shares of the company’s stock worth $8,658,000 after acquiring an additional 94,092 shares during the last quarter. Victory Capital Management Inc. lifted its position in shares of Broadstone Net Lease by 2,302.8% during the 2nd quarter. Victory Capital Management Inc. now owns 1,073,735 shares of the company’s stock worth $17,040,000 after buying an additional 1,029,048 shares during the last quarter. Finally, Meritage Portfolio Management purchased a new stake in shares of Broadstone Net Lease during the 3rd quarter worth approximately $5,610,000. Hedge funds and other institutional investors own 89.07% of the company’s stock.

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.