Broadstone Net Lease, Inc. (NYSE:BNL) Receives $18.60 Consensus Price Target from Analysts

Shares of Broadstone Net Lease, Inc. (NYSE:BNL) have received a consensus recommendation of “Hold” from the eight brokerages that are presently covering the company, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation, two have given a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $18.60.

A number of analysts recently issued reports on BNL shares. The Goldman Sachs Group raised their target price on shares of Broadstone Net Lease from $14.50 to $16.00 and gave the stock a “sell” rating in a research report on Friday, September 13th. UBS Group initiated coverage on Broadstone Net Lease in a research report on Thursday, November 14th. They set a “neutral” rating and a $18.00 target price on the stock. Citizens Jmp upgraded Broadstone Net Lease from a “hold” rating to a “strong-buy” rating in a report on Tuesday, December 17th. Finally, JMP Securities upgraded shares of Broadstone Net Lease from a “market perform” rating to an “outperform” rating and set a $21.00 price objective on the stock in a report on Tuesday, December 17th.

Broadstone Net Lease Price Performance

Shares of BNL opened at $15.61 on Wednesday. Broadstone Net Lease has a 1-year low of $14.20 and a 1-year high of $19.15. The stock has a market cap of $2.94 billion, a price-to-earnings ratio of 20.54 and a beta of 1.11. The firm has a 50 day simple moving average of $16.87 and a 200-day simple moving average of $17.42.

Broadstone Net Lease (NYSE:BNL) last released its quarterly earnings results on Wednesday, October 30th. The company reported $0.19 earnings per share 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 company had revenue of $108.40 million for the quarter, compared to analysts’ expectations of $106.47 million. During the same period in the previous year, the business posted $0.36 EPS. On average, equities analysts expect that Broadstone Net Lease will post 1.39 earnings per share for the current fiscal year.

Broadstone Net Lease Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be issued a $0.29 dividend. The ex-dividend date is Tuesday, December 31st. This represents a $1.16 dividend on an annualized basis and a yield of 7.43%. Broadstone Net Lease’s dividend payout ratio is currently 152.63%.

Institutional Trading of Broadstone Net Lease

Several large investors have recently modified their holdings of BNL. GAMMA Investing LLC lifted 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 acquiring an additional 1,272 shares in the last quarter. Quarry LP raised its position in shares of Broadstone Net Lease by 93.1% in the 2nd quarter. Quarry LP now owns 2,556 shares of the company’s stock valued at $41,000 after purchasing an additional 1,232 shares in the last quarter. Blue Trust Inc. boosted its stake in shares of Broadstone Net Lease by 156.5% during the 3rd quarter. Blue Trust Inc. now owns 3,902 shares of the company’s stock valued at $74,000 after buying an additional 2,381 shares during the last quarter. US Bancorp DE boosted its stake in shares of Broadstone Net Lease by 636.6% during the 3rd quarter. US Bancorp DE now owns 3,941 shares of the company’s stock valued at $75,000 after buying an additional 3,406 shares during the last quarter. Finally, KBC Group NV grew its position in shares of Broadstone Net Lease by 29.4% during the third quarter. KBC Group NV now owns 6,220 shares of the company’s stock worth $118,000 after buying an additional 1,413 shares in the last quarter. 89.07% of the stock is currently owned by institutional investors and hedge funds.

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.