UBS Group Initiates Coverage on Broadstone Net Lease (NYSE:BNL)

UBS Group started coverage on shares of Broadstone Net Lease (NYSE:BNL) in a report published on Thursday morning, Marketbeat.com reports. The brokerage issued a neutral rating and a $18.00 price objective on the stock.

BNL has been the topic of a number of other research reports. Wedbush assumed coverage on shares of Broadstone Net Lease in a report on Monday, August 19th. They set an “outperform” rating and a $20.00 price target on the stock. The Goldman Sachs Group boosted their price objective 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, Truist Financial boosted their target price 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. One 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’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $18.20.

Broadstone Net Lease Trading Up 1.4 %

Broadstone Net Lease stock traded up $0.23 during midday trading on Thursday, reaching $17.16. 446,996 shares of the stock traded hands, compared to its average volume of 1,159,729. The firm has a fifty day moving average price of $18.22 and a two-hundred day moving average price of $17.02. The firm has a market cap of $3.24 billion, a price-to-earnings ratio of 22.28 and a beta of 1.12. Broadstone Net Lease has a fifty-two week low of $14.20 and a fifty-two week high of $19.15.

Broadstone Net Lease (NYSE:BNL) last issued its quarterly earnings results on Wednesday, October 30th. The company reported $0.19 earnings per share for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.15). The company had revenue of $108.40 million during the quarter, compared to analyst estimates of $106.47 million. Broadstone Net Lease had a return on equity of 4.47% and a net margin of 33.56%. During the same period in the prior year, the company posted $0.36 earnings per share. Analysts anticipate that Broadstone Net Lease will post 1.39 earnings per share for the current year.

Broadstone Net Lease Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be paid a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a yield of 6.76%. The ex-dividend date is Tuesday, December 31st. Broadstone Net Lease’s payout ratio is currently 152.63%.

Hedge Funds Weigh In On Broadstone Net Lease

Hedge funds and other institutional investors have recently made changes to their positions in the business. GAMMA Investing LLC lifted its holdings in shares of Broadstone Net Lease by 257.5% during the 3rd quarter. GAMMA Investing LLC now owns 1,766 shares of the company’s stock worth $33,000 after acquiring an additional 1,272 shares during the period. Quarry LP grew its position in shares of Broadstone Net Lease by 93.1% during 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. grew its holdings in Broadstone Net Lease by 156.5% during the third quarter. Blue Trust Inc. now owns 3,902 shares of the company’s stock valued at $74,000 after purchasing an additional 2,381 shares during the period. US Bancorp DE grew 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 purchasing an additional 3,406 shares during the period. Finally, KBC Group NV lifted its stake in 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 buying an additional 1,413 shares in the last quarter. 89.07% of the stock is owned by institutional investors.

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.